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主题:【编辑】美国经济周报2010年10月第1期 -- 南方有嘉木

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家园 “不是不错”?

可能多打了第一个“不”字?

家园 大不了来一个清零?

反正联储制造出来的流动性需要一个目标。银行有了钱,干脆把disclosure延期到无穷远。这样欠了银行钱的人没有被赶到大街上,也不会造反。

就像现在争论的东汉明帝那个动不动来一个“赐天下男子爵,人二级;三老、孝悌、力田人三级”那样,自上而下清零总比自下而上来的安稳。不过玩不好就成了当年俄罗斯那个全民赠送债券了。

家园 已改! 花! 谢!
家园 没有那么容易

主要涉及到两个问题

所有权的法理问题

银行的OPERAITING EXPENSE和MBS的交易。

前者会动摇美国的法制根本,后者会让银行破产。所以另一场金融危机正在蕴酿中。现在就要看美国的经济和政治以及法律系统如何互动了。这比前一次向银行注资所涉及到的MORAL HAZARD 要复杂得多。它需要解决得很快以避免危机的扩大,但由于它必须由政府和法律系统来解决,所以没法解决得快。因为尽管表面上看来很简单,但其中涉及到的法理问题和案件潜在的广泛性却使它的处理变得很困难。这里有一个很好的总结

http://pragcap.com/subprime-debacle-act-2

家园 BOA重新开始foreclosure

晚上看NBC,Bank of America 宣布在23个州重新开始foreclosure的程序,最近一段股价压力太大了吧。记得WellsFargo 没有理这个茬去freeze foreclosure.

家园 今年到明年

del

家园 more to go

http://www.bloomberg.com/news/2010-10-19/pimco-new-york-fed-said-to-seek-bank-of-america-repurchase-of-mortgages.html

Oct. 19 (Bloomberg) -- Pacific Investment Management Co.,

BlackRock Inc. and the Federal Reserve Bank of New York are

seeking to force Bank of America Corp. to repurchase soured

mortgages packaged into $47 billion of bonds by its Countrywide

Financial Corp. unit, people familiar with the matter said.

The bondholders wrote a letter to Bank of America and Bank

of New York Mellon Corp., the debt’s trustee, citing alleged

failures by Countrywide to service the loans properly, their

lawyer said yesterday in a statement that didn’t name the firms.

Investors are stepping up efforts to recoup losses on

mortgage bonds, which plummeted in value amid the worst slump in

home prices since the 1930s. Last month, BNY Mellon declined to

investigate mortgage files in response to a demand from the

bondholder group, which has since expanded. Countrywide’s

servicing failures, including insufficient record keeping, may

open the door for investors to seek repurchases by bypassing the

trustee, said Kathy Patrick, their lawyer at Gibbs & Bruns LLP.

“We now are in a position where we have to start a clock

ticking,” Patrick, who is based in Houston, said today in a

telephone interview.

MetLife Inc., the biggest U.S. life insurer, is part of the

group represented by Gibbs & Bruns, said the people, who

declined to be identified because the discussions aren’t public.

TCW Group Inc., the manager of $110 billion in assets, expects

to join BlackRock, the world’s largest money manager, and Pimco,

which runs the biggest bond fund, in the group, the people said.

Countrywide also hasn’t met its contractual obligations as

a servicer because it hasn’t asked for repurchases itself and is

taking too long with foreclosures, either because of document or

process mistakes or because it doesn’t have enough staff to

evaluate borrowers for loan modifications, Patrick said. If the

issues aren’t fixed within 60 days, BNY Mellon should declare

Countrywide in default of its contracts, she said.

家园 请问谁知道葡萄在茶馆发言的链接?
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