Today's WSJ illustrates that the mortgage market remains frozen. The Treasury is backing 85% of new mortgages and the Fed is purchasing 80% of the securities into which the mortgages were packaged.
The question is, "Why aren't the banks lending with all the $$$$ pumped into their operations by the Fed?"
The answer must be that the banks are (a) either still insolvent or (b) are quite concerned about further debt defaults on mortgages, credit cards, etc.
Subscribe to:
Post Comments (Atom)
-
As many of my readers point out in their comments, Hurricane Florence endangers aging nuclear power plants in the Carolinas. Below find ...
-
The weekend edition of the Wall Street Journal reports that PG&E suffered a massive loss of control of the utility's databases, le...
-
I had the good fortune of meeting Dr. Kate Brown some years back at a conference. She is an amazing person and formidable intellect. Her l...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.