Word: mortgagees
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Paulson's current plan exacts no such a price from the financial institutions it proposes to bail out; the idea has not been publicly discussed by either the Congress of the Bush Administration. But it ought not be considered ideologically beyond the pale, since the U.S. government did get equity...
“I think it’s inappropriate of him to assume the incomes of my neighbors... I can tell you they’re having to mortgage their houses and we know this isn’t any favorable environment to do that,” said...
In August 2007, two internal hedge funds, intended to take bets in the subprime mortage market, collapsed, despite being provided with $3.2 billion by Bear CEO James Cayne to bail out both the funds. After the collapse of the funds, Bear continued to lose money throughout the fall and winter...
Paulson knows this as well as anyone. He and his team had been working on his proposal for more than six months, in the event that more piecemeal approaches like the bailout of Bear Stearns or the takeover of Fannie Mae and Freddie Mac didn't stop the bleeding. When...
But Asia's financial systems "are not expected to face a crisis situation," according to a Standard & Poor's report released this month. The primary reason is that the region's banks had little need to dabble in high-risk U.S. mortgage investments. With economies roaring at home, they found...