Mortgage news

News, trends and analysis of the mortgage and credit market

Sunday, August 12, 2007

Bernanke Was Wrong: Subprime Contagion Is Spreading





August 10 2007 Bloomberg.com
Federal Reserve Chairman Ben S. Bernanke was wrong. So were U.S. Treasury Secretary Henry Paulson and Merrill Lynch & Co. Chief Executive Officer Stanley O'Neal. The subprime mortgage industry's problems were contained, they all said. It turns out that the turmoil was contagious. The $2 trillion market for mortgages not backed by government- sponsored agencies is at a standstill.
More

Find Rated Best Mortgage Companies in Your State

Email this article to a friend | Send us a comment

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home