Forget Bernanke, forget Paulson, forget FDIC Chief Sheila Bair..
Let’s bring back George to fix things.
http://www.youtube.com/watch?v=MJJN9qwhkkE
Continued Housing Downturn Drives First Quarter Thrift Industry Loss
subprime loans
Bring Back George!
Subprime Primer
Now that the Fed has taken historic steps to bailout the investment bank Bear Stearns, they’ll be renewed interest in how this whole subprime debacle got started and how it reached today’s proportions.
There’s a good article posted on Wikipedia describing the history of the subprime mortgage crisis, the roles of those involved, and it’s impact [...]
Subprime Responsibility
I was reading Treasury Secretary Paulson’s: Remarks on U.S. Housing Market before FDIC’s Forum on Mortgage Lending to Low and Moderate Income Households, and wanted to point out an excerpt from that speech which negatively caught my attention:
..Due to the lax credit and underwriting standards of the past years, some people took out mortgages they [...]