Looks like the FED is going to put all those shitty mortgage loans on the balance sheet. Great now the American tax payer can bail out the banks again. What bullshit.
Edit: I have to take this back, looks like the loans will be on the books only temporary as these will be LOANS, not outright purchases of bad mortgage backed securities. Furthermore the FED will be charging a premium for the loans, where only 90% of the mortgage is available to borrow.
I stand corrected
Edit: I have to take this back, looks like the loans will be on the books only temporary as these will be LOANS, not outright purchases of bad mortgage backed securities. Furthermore the FED will be charging a premium for the loans, where only 90% of the mortgage is available to borrow.
I stand corrected