Bad Blood Over Bad Loans - Business Week

User Forum Topic
Submitted by PerryChase on September 24, 2006 - 11:46pm

"Mortgage defaults are rising. Wall Street thinks banks should mop up the mess"


Businessweek article

-----
This one's for you, powayseller. You predicted this. I have a feeling that you'll get many chances to say "I told you so." :)

I subscribe to Business Week and for a long time they were silent about the coming real estate downturn. They were for some time predicting a soft landing.

Now they've suddenly jumped on the bandwagon with a slew of articles on toxic mortgages and nutron loans.

‹ Recession killer Why is oil down? ›

I'm not allowed to be right.
Submitted by powayseller on September 25, 2006 - 3:12am.

I'm not allowed to be right. My husband says that's gloating, LOL.

The article gives a list of lenders with the amount of defaulted loans, but doesn't explain why Merrill Lynch, Morgan Stanley, and Deutsche Bank are buying these distressed lenders.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.