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October 11, 2008 9:41:04 AM CDT

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Stories related to: mortgage backed securities

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  • October 2008

    • Bailout Czar Kashkari Joins World's Big Money Elite

      Politico  |  Oct 7, 08 1:01 PM CDT

      Bailout Czar Kashkari Joins World's Big Money Elite

      (Newser) - A behind-the-scenes player at the Treasury Department just weeks ago, 35-year-old Neel Kashkari’s financial heft as the agency’s bailout czar puts him on par with the heads of sovereign wealth funds, Politico reports. The self-described “free-market Republican” enjoyed a meteoric rise through the department, where he was part of a small team working on the $700 billion plan months before it was proposed. More »

    • GOP Is Brilliant at Blaming the Victim: Frank

      Wall Street Journal  |  Oct 1, 08 1:22 PM CDT

      GOP Is Brilliant at Blaming the Victim: Frank

      (Newser) - Even in a financial crisis obviously precipitated by an orgy of deregulation, writes Wall Street Journal columnist Thomas Frank, the right has done a spectacular job deflecting blame. Looking to point the finger at something other than "unbridled pecuniary motives," conservatives have targeted Democrat-friendly Fannie Mae and Freddie Mac for buying up subprime mortgages—as if that somehow induced lenders to "hand them out like candy." More »

      Tags

      subprime mortgages  • credit market  • mortgage backed securities  • conservatives  • deregulation

  • September 2008

    • O'Neill on Bush: He Doesn't Get It, and 'It Shows'

      ABC News  |  Sep 26, 08 11:50 AM CDT

      O'Neill on Bush: He Doesn't Get It, and 'It Shows'

      (Newser) - Former Treasury chief Paul O'Neill doesn't have a lot of confidence in the ability of his old boss to find a financial solution, ABC News reports. “I don’t think he understands or knows much about any of this and it shows,” O’Neill said of President Bush. He said the president and other leaders are in a “panic” and acting rashly by rushing the bailout plan. "It is possible to re-liquefy the credit system without ‘We the People’ owning $700 billion worth of homes,” O’Neill said. More »

      Tags

      Financial Crisis  • bailout  • housing crisis  • subprime crisis  • mortgage backed securities

    • The GOP Plan: Less Regulation, Private Funding

      Washington Post  |  Sep 26, 08 8:09 AM CDT

      The GOP Plan: Less Regulation, Private Funding

      (Newser) - When John Boehner scuppered the nearly-sealed bailout deal at yesterday's meeting, the House minority leader proposed an alternative plan: a bank-financed insurance system that would rescue individual mortgages. Under the GOP proposal, the government would not buy up the toxic mortgage-backed securities at the heart of the crisis but instead rely on a more market-based approach. The treasury and the Federal Reserve had already considered and rejected such a plan, notes the Washington Post . More »

      Tags

      John McCain  • George W. Bush  • bailout  • Henry Paulson  • Ben Bernanke  • credit market  • mortgage backed securities  • John Boehner

    • Paulson Outlines His 'Bold' Bailout

      Wall Street Journal  |  Sep 19, 08 10:10 AM CDT

      Paulson Outlines His 'Bold' Bailout

      (Newser) - Henry Paulson confirmed today that he is working on a "bold" plan to buy bad loans from banks, the Wall Street Journal reports. Such a plan would cost taxpayers “hundreds of billions of dollars,” Paulson said, but he believes it is necessary to stabilize the economy. “The ultimate taxpayer protection will be the stability this troubled asset-relief program provides to our financial system,” he said. More »

      Tags

      Financial Crisis  • bailout  • Henry Paulson  • Fannie Mae  • Freddie Mac  • credit market  • mortgage backed securities  • financial markets

    • Feds Search for WaMu Buyer

      New York Post  |  Sep 17, 08 1:06 PM CDT

      Feds Search for WaMu Buyer

      (Newser) - Washington Mutual, America's largest savings and loan, may be the next big financial institution to fail, the New York Post reports. Fearing a run on the struggling bank, federal regulators placed calls yesterday gauging interest in a WaMu buyout to Wells Fargo, JP Morgan Chase, HSBC, and others, but no further negotiations have been scheduled. More »

      Tags

      credit crisis  • mortgage backed securities  • Wells Fargo  • Washington Mutual  • bank failure  • savings  • Standard and Poor  • J.P. Morgan Chase

  • August 2008