http://www.nytimes.com/2009/02/13/bu…t.html?_r=1&hp By STEVE LOHR Published: February 12, 2009 Some of the nation’s large banks, according to economists and other finance experts, are like dead men walking. A sober assessment of the growing mountain of losses from bad bets, measured in today’s marketplace, would overwhelm the value of the banks’ assets, they say. The banks, in their view, are insolvent. None of the experts’ research focuses on individual banks, and there are c
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Treasury Secretary Timothy Geithner has unveiled a new plan to combat the financial crisis: convincing private financial institutions to buy up “toxic assets” with the government’s backing.
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Feb. 9 (Bloomberg) — South African sales of bonds backed by mortgages, car loans and other consumer credit slumped 78 percent in 2008 as higher interest rates and a global credit crisis curbed investor demand for the assets, Moody’s Investors Service said.
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Feb. 5 (Bloomberg) — Citigroup Inc., paring assets after accepting a $346 billion U.S. government bailout package, agreed to sell servicing rights on 185,000 loans to Wilbur Ross ’s American Home Mortgage Servicing Inc. for $1.5 billion.
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Feb. 5 (Bloomberg) — Citigroup Inc., paring assets after accepting a $346 billion U.S. government bailout package, agreed to sell servicing rights on 185,000 loans to Wilbur Ross ’s American Home Mortgage Servicing Inc. for $1.5 billion.
The Mortgage Crisis Blog Mortgage Crisis
