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Dr. Kalinda Rose Stevenson
Banks’ Self-Dealing Super-Charged Financial Crisis
by Jake Bernstein and Jesse Eisinger ProPublica, Aug. 26, 10:09 p.m.
Over the last two years of the housing bubble, Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history.
Faced with increasing difficulty in selling the mortgage-backed securities that had been among their most lucrative products, the banks hit on a solution that preserved their quarterly earnings and huge bonuses:
They created fake demand. Read more
Sphere: Related ContentTags: bank, bankers, banking, cdo, cdos, collateralized debt obligations, financial crisis, foreclosure, housing bubble, lending, money, mortgage backed securities, mortgage bonds, mortgages, subprime, subprime mortgage, Wall Street
If You Are Thinking About Buying Foreclosures, Ask Yourself This Question
Are you thinking about buying foreclosed properties? If you are thinking about this, know that you are not alone. Anyone who has even the slightest interest in real estate investing is probably thinking the same thoughts.
All across the United States, and in other places around the world, property owners are losing their properties to foreclosure. Blame it on corrupt mortgage brokers, greedy bankers, and unqualified, irresponsible buyers, if you want. Whatever happened to cause foreclosure for any particular property owner, the harsh reality is that one person’s loss can be another person’s gain. Read more
Sphere: Related ContentTags: buying foreclosures, foreclosed properties, foreclosure, No Money Limits, real estate, real estate investing, strategy, tactics
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