Bad Blood Over Bad Loans – Business Week

[PerryChase]

“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.

[powayseller]

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.

[Author]

Posts