Remember when I said banks were under-reserving?
Listen to what Jeffrey Gundlach has to say about subprime bonds -- yes subprime. Hint: he thinks banks will have to take more credit writedowns.
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Browsing Tag
asset-backed securities
Covered bonds are not the answer
As Hank Paulson looks to push through his Economic Patriot Act, it bears remembering that just a few months ago he saw Covered Bonds as a potential solution to U.S. problems with declining home prices.
They are not the solution. This…
Are covered bonds really the solution?
Last month, Hank Paulson, the U.S. Treasury Secretary, was waxing prosaically about covered bonds and their benefits to mortgage markets. From his comments, one gets the impression he sees this a potential solution to preventing a future…
Covered bonds: German Pfandbriefs are the new US solution
Hank Paulson, the U.S. Treasury Secretary has decided that the German Covered Bond is a solution to many of the woes of the U.S. housing market meltdown. He is backed by four large U.S. banks: Bank of America, Citigroup, JP Morgan Chase…