China Owns the United States so China Comdemns US

China roundly condemned the United States for its “debt addiction” and “short sighted” political wrangling and said the world needed a new stable global reserve currency. “China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s …

Moody’s Downgrades $42.2 Billion of Subprime RMBS

This week Moodys Investment Service downgraded its ratings on a total of $42.2 billion of residential mortgage-backed securities (RMBS) made up of subprime home loans. The agency said the downgrades are a result of “continued performance deterioration in subprime pools,” which is likely to worsen further as still-falling home prices and high unemployment trigger more …