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)
-
March 11 is the anniversary for the Fukushima Daiichi disaster of 3 nuclear meltdowns, at least one melt through, and a fire in at least ...
-
The weekend edition of the Wall Street Journal reports that PG&E suffered a massive loss of control of the utility's databases, le...
-
The Brunswick nuclear power plant operated by Duke in North Carolina reported an unusual event because its surroundings were flooded. here...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.