Greek debt and U.S. subprime crisis similar

The parallel between the Greek debt crisis and the subprime crisis is striking. Trashy debt is alchemised to gold through manipulations driven by a political agenda. In the case of subprime debt, this took the form of collateralized debt obligations consisting of government-supported mortgage-backed securities. In the case of Greek bonds, it was European Monetary …

Morgan Stanley settles lawsuit in Massachusetts

Saxon Mortgage parent company Morgan Stanley agreed to pay millions of dollars to the state of Massachusetts to end an investigation into its role in loaning billions to a company that gave mortgages to unqualified borrowers. The financial services firm, which funded subprime loans throughout the country, agreed to give Massachusetts a settlement of $102 …

Update on SEC Goldman Sachs suit and Paulson bet

Why is Goldman Sachs stalling on a request from the SEC? Goldman Sachs Group Inc. will have longer to respond to the high-profile lawsuit by the Securities and Exchange Commission over disclosures regarding a collateralized debt obligation tied to subprime mortgages, a judge ruled. Apparently the CDO in question was one that caught the eye …

HRA Homeownership Specialist and Saxon Mortgage foreclosure

Rl in Minnesota said: “My husband (Rick) and I have had the same problem as all of the others. Did not receive the information, paperwork is coming so on and so forth. In March we received a foreclosure notice. I had a HRA Homeownership Specialist assisting in this matter and she could not believe how …