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Article: The McCain campaign launched a salvo of new economic proposals, the most ambitious of which is a plan to buy distressed mortgages at face value.(The Week)(John McCain)(Brief article)
- Article from:
- National Review
- Article date:
- November 3, 2008
CopyrightCOPYRIGHT 2008 National Review, 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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The McCain campaign launched a salvo of new economic proposals, the most ambitious of which is a plan to buy distressed mortgages at face value. The problem with this plan is that it cannot improve on current law without rewarding reckless lenders at an excessive cost to taxpayers. Under the Frank-Dodd housing bill that was signed into law last summer, lenders must agree to "take a haircut"--slang for writing down the value of a distressed asset--in order to qualify for federal mortgage insurance. The lender bears an initial loss but is protected if the ...
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Article: KAMCO to buy distressed property loans from ...
YON - Yonhap News Agency of Korea;
March 31, 2009 ;
700+ words
...SEOUL, March 30 (Yonhap) -- State debt clearer Korea Asset Management Corp. (KAMCO) plans to buy part of the trillions of won in property loans extended by local banks and other financial firms in a bid to stem their deteriorating financial health, the financial watchdog said Monday. Smaller
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