Will the bailout for Democratic Capitalism avert Depression?
Tags: Bailout + Bailout Plan + BOA + C + Econonmy + Federal Reserve + investing + JPM + Mark to Market + SEC + Treasury Bailout Plan + WFS
For years US banks and their off-balance sheet subsidiaries originated mortgages with no money down, easy to meet, first year payment terms and then sold them to Fannie Mae, Freddie Mac and Ginnie Mae which guaranteed them enticing worldwide investors to purchase them in the secondary market. These same banks also structured derivative contracts to […]
October 1, 2008 - Economy, Markets, Politics - 0 Comments
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