Posts Tagged ‘asset backed securities’

If You Think the Meltdown Was the Fault of Homeowners, Think Again…

Written on 25 May, 2011 at 18:46

So... in "Pillage," Nomi Prins explains in terms anyone can understand that factoring in the leverage at 11:1, we're looking at a $140 TRILLION economic problem... yes, you read that correctly... that's trillion, with a 'T'... (Continue reading)

The Federal Reserve Made a Record $47.4 Billion HELPING Housing Market in 2009?

Written on 27 Jul, 2010 at 20:05

The Federal Reserve, by the way, doesn't exist to make a profit like the commercial banks. Until 2009, the Fed paid no interest on the bank reserves and other monies it holds, and it earns interest on the Treasury... (Continue reading)

Tagged with: AIG AIG bailout asset backed securities bear stearns budget deficit CDOs central banking Deflation double dip economy emergency lending programs Fannie Mae FDIC FDIC Chair Sheila Bair fed makes record profits federal reserve Federal Reserve Chairman Ben Bernanke financial reform bill foreclosure crisis Freddie Mac HAMP inflation jpmorgan chase loan modifications maiden lane I Maiden lane II maiden lane III mandelman matters martin andelman mortgage backed securities mortgage refinancing NACA New York Times recession RMBS TARP Treasury Secretary Tim Geithner US Treasury WaMu washington mutual