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