http://www.youtube.com/watch?v=mA0HYGaHDZM&feature=related
Hey it's 2010 now
Here comes the commercial mortgage resets.
TARP II
What exactly is a toxic asset: Foreclosed on homes that are now no longer generating income for the major investment banks
Showing posts with label Toxic assets. Show all posts
Showing posts with label Toxic assets. Show all posts
Saturday, October 9, 2010
Sunday, October 18, 2009
How Moody's sold its ratings -- and sold out investors
http://www.mcclatchydc.com/227/story/77244.html
-- As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped Wall Street plunge the country into its worst financial crisis since the Great Depression.
A McClatchy investigation has found that Moody's punished executives who questioned why the company was risking its reputation by putting its profits ahead of providing trustworthy ratings for investment offerings.
Instead, Moody's promoted executives who headed its "structured finance" division, which assisted Wall Street in packaging loans into securities for sale to investors. It also stacked its compliance department with the people who awarded the highest ratings to pools of mortgages that soon were downgraded to junk. Such products have another name now: "toxic assets
-- As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped Wall Street plunge the country into its worst financial crisis since the Great Depression.
A McClatchy investigation has found that Moody's punished executives who questioned why the company was risking its reputation by putting its profits ahead of providing trustworthy ratings for investment offerings.
Instead, Moody's promoted executives who headed its "structured finance" division, which assisted Wall Street in packaging loans into securities for sale to investors. It also stacked its compliance department with the people who awarded the highest ratings to pools of mortgages that soon were downgraded to junk. Such products have another name now: "toxic assets
Tuesday, August 11, 2009
Watchdog says bad assets still threaten banks
http://finance.yahoo.com/news/Watchdog-says-bad-assets-apf-2147038643.html?x=0&sec=topStories&pos=6&asset=&ccode=
When people have no jobs, what other outcome can they really expect seriously?
If you have no money you can't buy the honey
Owners of shopping malls, hotels and offices have been defaulting on their loans at an alarming rate, and the commercial real estate market isn't expected to hit bottom for three more years, industry experts have warned. Delinquency rates on commercial loans have doubled in the past year to 7 percent as more companies downsize and retailers close their doors, according to the Federal Reserve.
The commercial real estate market's fortunes are tied closely to the economy, especially unemployment, which registered 9.4 percent last month. As people lose their jobs, or have their hours reduced, they cut back on spending, which hurts retailers, and take fewer trips, affecting hotels.
Ten months into the federal rescue program, the troubled assets "remain a substantial danger to the financial system," the report says. "Financial stability remains at risk if the underlying problem of toxic assets remains unresolved."
When people have no jobs, what other outcome can they really expect seriously?
If you have no money you can't buy the honey
Owners of shopping malls, hotels and offices have been defaulting on their loans at an alarming rate, and the commercial real estate market isn't expected to hit bottom for three more years, industry experts have warned. Delinquency rates on commercial loans have doubled in the past year to 7 percent as more companies downsize and retailers close their doors, according to the Federal Reserve.
The commercial real estate market's fortunes are tied closely to the economy, especially unemployment, which registered 9.4 percent last month. As people lose their jobs, or have their hours reduced, they cut back on spending, which hurts retailers, and take fewer trips, affecting hotels.
Ten months into the federal rescue program, the troubled assets "remain a substantial danger to the financial system," the report says. "Financial stability remains at risk if the underlying problem of toxic assets remains unresolved."
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