Definitions

Citi, JPMorgan Chase, BofA to create SIV’s to help market

Written by Timothy Blake on October 15, 2007 under Archives, Definitions, Economic Impact, Government Positions, Investors

The stock market was down sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt. Bonds fell after an upbeat economic reading. The stock market’s pullback follows concerns about debt but also as investors also await third-quarter reports due this week from more than 80 members of the Standard & Poor’s 500 index. In addition, oil pushed to new highs.

A Guide to Subprime or ‘How to ruin your country’s economy too’

Written by Leatherneck on August 21, 2007 under Archives, Definitions, Economic Impact, International, Lawsuits, Mortgage Fraud, Root Causes

Economists in any country in the world – except the United States – should study the “interest only” loan. It is imperative so your economy doesn’t get hurt in the future. Just consider the United States as a training ground. We all saw the ripple effect around the world. If your country’s stock market lost $80 million in one day, or if your country’s central bank pumped billions of dollars into your economy, your economists should study the interest-only scam so you can prevent it.

Mortgage fraud, renamed predatory lending, then renamed subprime

Written by Leatherneck on August 09, 2007 under Archives, Definitions, Editorial

Years ago John Bley, Washington State’s Financial Institutions Director, at a Federal Reserve Board hearing in San Francisco once said “Predatory lending isn’t a new problem, it’s just that the name has changed. What was once called mortgage fraud is now called predatory lending. Under either name, our mission to investigate violations and enforce the law has remained the same.” If predatory lending is now called subprime that tells me that mortgage fraud and subprime are the same. Many investors are beginning to think so too.

Credit card asset backed securities fraud examined

Written by Leatherneck on August 09, 2007 under Archives, Definitions, Investors

Credit card balances generate a continuing stream of income. Asset-backed securities are sold to investors, backed by these revenue streams. Investors may not get what they bargained for. Generally the biggest asset-backed securities are backed by home equity loans, auto loans, and credit cards. Here is how credit card asset backed securities can be inflated, defrauding investors in the process:

Dutch merchant bank losses from asset-backed securities

Written by Leatherneck on August 09, 2007 under Archives, Definitions, International, Investors

Many people have asked why I predicted an implosion on or about August 15th. First let me be prefectly clear that I did not believe problems were contained to subprime, as we were told in earlier reports. Nor did I believe problems were contained to the United States, as others would like us to believe. In fact my partner and I tracked subprime and predatory loans every day since 1999, often receiving reports from borrowers. The problem is spreading to asset-backed securities and the credit card market. My position is supported by this article:

« Older Entries
Newer Entries »

Our Sponsors

<
Our Partners Selected Articles


© Copyright 1998 - 2012 Mortgage Crisis Daily | 55 queries in 0.376 seconds.