All Posts Tagged With: "mortgage-backed securities"
Why Bernanke Is Wrong On Mortgage-Backed Securities
Oh no, Federal Reserve Chairman Ben Bernanke wants more taxpayer dollars to bailout the upper-class. He doesn’t actually say that, of course, but what else would be the result if the government — us — starts to buy mortgage-backed securities from poor, down-trodden investors who hold billions of dollars in mortgage-backed securities? In basic terms [...]
3Nov2011 | Peter G. Miller | 0 comments | Continued
America’s Big Banks, America’s Financial Vietnam
Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures [...]
3Oct2011 | Peter G. Miller | 0 comments | Continued
Mortgage Reform Now — 6 Ways To Fix What’s Broke
For all the talk of reform on Wall Street, a quicker and easier way to assure that big banks don’t fail and small borrowers don’t get screwed is to simply fix the mortgage origination system. Fixing the mortgage system is crucial if we’re to prevent another financial meltdown. If the mortgages are done right than [...]
22Apr2010 | Peter G. Miller | 0 comments | Continued
SEC — No Help For Mortgage Borrowers
The news is now filled with SEC accusations that Goldman Sachs defrauded investors who bought mortgage-backed securities, allegations Goldman Sachs strongly denies. But nowhere in the news do we hear of any effort to help the mortgage borrowers whose screwing made the financial meltdown possible. While the SEC is concerned about helping securities investors who [...]
19Apr2010 | Peter G. Miller | 0 comments | Continued
Mortgage Modifications Threatened by Higher Interest Rates
Mortgage interest rates have spiked during the past two weeks, so is there a need to worry? The news is unsettling because last August the Federal Reserve announced that it would stop purchasing mortgage-backed securities (MBS) in the open market on March 31, 2010. The thought of one less buyer in the marketplace — one [...]
12Apr2010 | Peter G. Miller | 0 comments | Continued
How Paper Mortgage Losses Turned Real
The question that keeps coming up is this: If only a small portion of all mortgages are failing how come the general financial impact has been so enormous? To resolve this mystery, let’s go back to the 1970s when the mortgage-backed security — the MBS — was developed. The MBS was a financial device designed [...]
15Dec2008 | Peter G. Miller | 0 comments | Continued
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