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Notícies :: globalització neoliberal : corrupció i poder : especulació i okupació |
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crisi hipotecà ria als u.s.a
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per bubble burst |
11 mar 2007
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"Will the meltdown in the market for subprime mortgages spread to other forms of housing finance and trigger a housing credit crunch that will further depress sales and prices?" Not a Great Foundation for Optimism. The Washington Post. Sunday, March 11, 2007 |
"The analyst’s untimely call, coupled with a failure among other Wall Street institutions to identify problems in the home mortgage market, isn’t the only familiar ring to investors who watched the technology stock bubble burst precisely seven years ago (...) “This is far more dramatic than what led to Sarbanes-Oxley,� he added, referring to the legislation that followed the WorldCom and Enron scandals, “both in conflicts and in terms of absolute economic impact.�
While real estate prices were rising, the market for home loans operated like a well-oiled machine, providing ready money to borrowers and high returns to investors like pension funds, insurance companies, hedge funds and other institutions. Now this enormous and important machine is sputtering, and the effects are reverberating throughout Main Street, Wall Street and Washington.
Already, more than two dozen mortgage lenders have failed or closed their doors, and shares of big companies in the mortgage industry have declined significantly. Delinquencies on loans made to less creditworthy borrowers — known as subprime mortgages — recently reached 12.6 percent. Some banks have reported rising problems among borrowers that were deemed more creditworthy as well (...)
“There are delayed triggers in many of these investment vehicles and that is delaying the recognition of losses,� Charles Peabody, founder of Portales Partners, an independent research boutique in New York, said. “I do think the unwind is just starting. The moment of truth is not yet here.�" Crisis Looms in Market for Mortgage By GRETCHEN MORGENSON. The New York Times, March 11, 2007 |
Mira també:
http://www.nytimes.com/2007/03/11/business/11mortgage.html?_r=1&oref=slogin
http://www.washingtonpost.com/wp-dyn/content/article/2007/03/10/AR2007031000071.html
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This work is in the public domain |
