Bass Sees BOJ Bond Purchases Overwhelmed as Investors Dump Debt
J. Kyle Bass, whose Hayman Advisors LP made $500 million amid the U.S. subprime crisis, said the Bank of Japan will have to "dramatically" increase bond-buying efforts that have been "overwhelmed" by investors selling.
Finally: Tax-Dodging, Union-Busting, Subprime Mortgage Banker Hauled Before Congress
The Senate will finally confront one of the architects of the subprime mortgage crisis today, hauling a tax-dodging, union-busting, bank-breaking, billionaire member of the "one percent" before the Senate Commerce Committee... to consider her confirmation as Secretary of Commerce in President Barack Obama's Cabinet.
Wasted wealth - The ongoing foreclosure crisis that never had to happen
In 2008, the Emergency Economic Stabilization Act created the Troubled Asset Relief Program , which provided $700 billion to the Treasury to address the subprime mortgage crisis and to "maximize assistance for homeowners." As we know, the majority of that money went to the banks that created the mortgage crisis with high-risk products, and only ... (more)
Sun May 19, 2013
Sir Mervyn King says George Osborne's plan to help housebuyers 'could cause another crash'
Sir Mervyn King has sounded the alarm over the Chancellor's home-buying plan, suggesting it could trigger a US-style economic crash.
National Mortgage News
Brian Collins and Mark FogartyLO Comp Bill a Subprime Effort?
WE'RE HEARING that it is going to take a concerted industry effort to get a legislative fix for the QM rule on loan officer compensation.
Sat May 18, 2013
Amcu leader says union will 'bring economy to standstill'
THE leader of South Africa's biggest platinum mining union threatened on Friday to bring the country "to a standstill" and demanded a meeting with President Jacob Zuma ramping up the rhetoric in an 18-month labour crisis.
Mon May 13, 2013
John HancockVoice: Around The Country, Homeownership Made Possible With State Help
Each From federal to municipal, governments in the United States have long been in the business of promoting homeownership, and for good reason, said director of homeownership for the Ohio Housing Finance Agency , Cynthia Flaherty.
German bank rescue fund swings to profit
Germany's bank rescue fund SoFFin swung to a profit last year for the first time since it was founded in 2008 after writing back 1.39 billion euros on loss provisions for assets once held by bailed-out lender Hypo Real Estate.
Real estate recovery leading to investments in commercial, residential property
Since the real estate market collapsed at the height of the subprime mortgage crisis in 2007 and 2008, the industry has suffered a tremendous downturn and the recovery has been rather sluggish.
Wed May 08, 2013
The Risk Of Recession Is Low And Declining
Credit default swap spreads are coming back down to earth, and they are now at a new post-recession low.
Tue May 07, 2013
Wall Street Journal
DAX Hits New High
Germany's benchmark DAX stock-market index hit its highest level ever Tuesday, becoming the first major European stock-market index to follow Wall Street into new territory as investors bet on the continued success of the country's exporters.
Mon May 06, 2013
Obama nominates Mel Watt to head FHFA, not a joke
Mel Watt has been nominated to lead the FHFA, and while his personal story is inspiring, his political career and role in the subprime crisis put him at odds with Republicans and even many Democrats, making his confirmation unlikely, so why nominate such a divisive character? President Obama has nominated Democratic Rep.
Fri May 03, 2013
Asia's Economic Imbalances
Stephen Roach argues that behind most major financial crises - the Asian financial crisis, the US subprime mortgage crisis, and the European debt crisis - are unsustainable economic imbalances.