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Daily Archives: October 20, 2010
Foreclosure fiasco: next phase of the banking crisis now playing
The tentacles of this mess have a strangle hold on the US financial system and the fledgling economic recovery. Christopher Whalen, managing director of Institutional Risk Analytics, talks with Bloomberg’s Mark Crumpton about the impact of U.S. mortgage foreclosures on … Continue reading
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Finger pointing moves to gloves off in the circle of deceit
Ok the inevitable is finally happening. Companies like Countrywide that originated and packaged horrible mortgages as investment grade securities are now getting a fresh wave of big indigestion. The managers and institutions who bought the junk (including the NY Federal … Continue reading
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