Posted in Housing Issues on Mar 29th, 2008
This article explains the financial rationale for how securitized mortgages were supposed to work and how the failure of a few assumptions turned a nice profit into huge losses.
“The Subprime Crisis Is Just Starting” by Daniel R. Amerman, FSU Editorial 03/20/2008
Posted in Housing Issues on Mar 28th, 2008
Lenders loaned too much money on too easy terms to borrowers who did not have the capacity to make their payments. No alchemy by even the brightest minds on Wall Street could turn bad loans into good assets.
I have to agree with what Ethan Penner says above in the Wall Street Journal opinion piece, Of [...]
On this day, the Virginia Tech community reflects on the vibrant lives of the 32 students and faculty who were tragically taken from us a year ago. Through light, art, and music we pay tribute to each and every person we lost. We gather to honor our friends, colleagues, and family members. We will never forget.