Items Tagged with 'the Financial Times'


  • The Statistic Behind a Mortgage Meltdown

    Whether you know it or not, you’re looking at a formula that set Wall Street – and global investors, too – up for one of the single largest financial asset bubbles and crashes in world history. But it’s not quite the villain that some have painted it to be, as we’ll see.
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  • Repo Overhaul May Include Federal Clearing Bank

    A plan said to be in the works at the Federal Reserve to bring sweeping changes to the broad repurchase markets may involve the formation of a federal clearing bank to take the place of banks like Bank of New York Mellon [stock BK][/stock] and JPMorgan Chase [stock JPM][/stock]. Repurchase markets -- or repo markets -- involve a borrower putting up collateral in return for short-term loans from large investment managers. The transactions literally occur overnight, meaning the lender repurchases the funds the next morning.
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  • Oh, snap! BofA's Lewis trashes Citi

    Here's an FT exclusive, and note just how badly BofA's Ken Lewis does NOT want to be put into the Pandit bucket: Bank of America’s request for $20bn of government money to prop up its acquisition of Merrill Lynch was a “tactical mistake” that made the bank appear as weak as Citigroup, Ken Lewis, BofA’s chief executive told the Financial Times on Monday...
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  • Foreclosure Moratoria Gaining Traction Overseas

    Here at HW, we've spilled a fair amount of digital ink covering the rising popularity of foreclosure moratoria as a response to a growing number of troubled borrowers here in the States -- but the idea of halting foreclosure activity is gaining traction overseas, as well, as borrowers outside of the U.S. are increasingly facing similar struggles with their own mortgages.
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  • MBIA Cries Fraud; Sues Countrywide

    MBIA Insurance Inc. [stock MBI][/stock] filed a suit Tuesday against several units of Countrywide Financial Corp. over $14 billion in guarantees it provided for Countrywide mortgage bonds, alleging the lender fraudulently misrepresented its loan underwriting standards.
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