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Economy Blame Game.
- Article from:
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Kiplinger's Personal Finance Magazine
- Article date:
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April 1, 2008
- Author:
- Siegel, Jeremy J.
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Copyright informationCOPYRIGHT 2008 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JEREMY J. SIEGEL
Who's to blame for the sorry mess the economy finds itself in? Is it former Federal Reserve chief Alan Greenspan, who failed to sound an alarm about "no doc-no income" loans and kept short-term interest rates too low for too long in an attempt to jump-start the economy early in this decade? Is it the investment banks that packaged and sold billions of dollars' worth of high-risk home loans, often bundled in complicated "tranches" that nobody really understood? Or perhaps it's the bond-rating agencies that stamped these loans AAA.
The answer is: all of them and none of them. Yes, they all contributed to the housing boom and the proliferation of ...
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Tyson Subprime mortgages and the economy
Intelligencer Journal Lancaster, PA;
December 19, 2007 ;
461 words
......because of all the concern about subprime mortgages and the fallout from those risky...suggests that the concerns about subprime mortgages (those mortgages made to borrowers...from falling. Another way to look at subprime mortgages is to consider that there is slightly...
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Feds Caution on Subprime Mortgages
AP Online;
March 3, 2007 ;
650 words
......especially for people who took out subprime mortgages - higher-interest loans for those...risks and consequences" of taking out subprime mortgages, and that the mortgages "may pose...the relative benefits and risks" of subprime mortgages. Fed Chairman Ben Bernanke has said...
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Feds Urge Caution on Subprime Mortgages
AP Online;
March 2, 2007 ;
591 words
......especially for people who took out subprime mortgages - higher-interest loans for those...financial companies that specialize in subprime mortgages have seen their shares plummet in...sales. And rising delinquencies on subprime mortgages have forced an array of lenders...
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NSW: Police seize millions of dollars worth of drugs
AAP General News (Australia);
November 20, 2002 ;
106 words
......NSW: Police seize millions of dollars worth of drugs Police have used several trucks to remove millions of dollars worth of cannabis plants seized during...people and seized millions of dollars worth of cannabis during morning raids...
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Russia exports 4.8 billion dollars worth of arms in 2002
Xinhua News Agency;
February 18, 2003 ;
187 words
...Russia exports 4.8 billion dollars worth of arms in 2002 MOSCOW, Feb...Russia exported 4.8 billion US dollars worth of weapons last year and broadened...the exports were 350 million dollars worth of arms that were used to pay...
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Subprime Mortgages Scrutinized: Thousands Face Foreclosure.
Hartford Courant (Hartford, CT);
April 11, 2007 ;
359 words
......in Connecticut holding so-called subprime mortgages now face foreclosure and how those...is estimated that $8.1 billion in subprime mortgages have been underwritten for properties...homeowners with past credit issues, these subprime mortgages were their only path to homeownership...
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U.S. subprime mortgages not likely to destabilize global financial...
Xinhua News Agency;
April 10, 2007 ;
220 words
...U.S. subprime mortgages not likely to destabilize global...WASHINGTON, April 10 (Xinhua) -- U.S. subprime mortgages have deteriorated a bit more...deterioration in the credit quality of subprime mortgages has, in turn, translated into...
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Foreclosure rise blamed on subprime mortgages
The Milwaukee Journal Sentinel;
December 1, 2002 ;
MICHELE DERUS;
400 words
...Foreclosure rise blamed on subprime mortgages By MICHELE DERUS mderus@journalsentinel...Sentinel Sunday, December 1, 2002 Subprime mortgages played a pivotal role in Milwaukee...foreclosure problem. Nationwide, 1 million subprime mortgages were written last year, accounting...
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Myanmar to Sell 17.52 Million Dollars Worth of Gems
Xinhua English Newswire;
March 15, 1999 ;
182 words
...A total of 17.52 million U.S. dollars worth of locally produced gems, jade, pearl...year, a total of 3.15 million U.S. dollars worth of these items were sold. The emporium...October, during which 4.29 million dollars worth of such items were sold. Myanmar, a...
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Foreclosures expected to surge ; Homeowners carrying subprime mortgages...
Portland Press Herald (Maine);
January 7, 2007 ;
EDWARD D. MURPHY Staff Writer;
787 words
......expected to surge ; Homeowners carrying subprime mortgages are watching their interest rates...that foreclosures on homes carrying subprime mortgages in southern Maine will accelerate...purging of homeowners continue." Subprime mortgages are riskier loans made to borrowers...
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Guangdong exports 1 bln dollars worth of garments in January
Xinhua News Agency;
February 17, 2005 ;
210 words
...Guangdong exports 1 bln dollars worth of garments in January GUANGZHOU...Province exported 1 billion US dollars worth of garments in January, up 29...country exported 3.73 billion US dollars worth of textile garments in January...
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Thailand to export 2.1 bln US dollars worth of jewelry
Xinhua News Agency;
August 1, 2002 ;
136 words
...Thailand to export 2.1 bln US dollars worth of jewelry BANGKOK, Aug. 1 (Xinhua) -- Thailand is expected to export 2.1 billion US dollars worth of jewelry this year, 12 percent more than a year earlier despite the economic slowdown in the US, the...
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WHO donates 580,000 dollars worth medicines, equipment to Angola
Xinhua News Agency;
July 1, 2007 ;
145 words
...WHO donates 580,000 dollars worth medicines, equipment to Angola LUANDA, July 1 (Xinhua) -- The World Health Organization (WHO) is to donate 580,000 U.S. dollars worth medicines and midwife training equipment to the Angolan government, according...
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LOOK AT NEW JERSEY'S SUBPRIME MORTGAGES IN FORECLOSURE
US Fed News Service, Including US State News;
August 4, 2008 ;
275 words
......today released A Look at New Jersey's Subprime Mortgages in Foreclosure , the first article...d's website. "A Look at New Jersey's Subprime Mortgages in Foreclosure" traces patterns of...concentration of, owner-occupied subprime mortgages in foreclosure. New Jersey ranks...
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