Tuesday, December 20, 2011
Pimco's Gross to Investors: Load Up on MBS Before the Fed Does
Headlines and Blogs from Around the Web |
Pimco's Gross to Investors: Load Up on MBS Before the Fed Does... “If the EU economies and the euro basically go down, the dollar goes up," Gross told CNBC. "It’s hard to see the Fed raising rates and thus reinforcing a higher and higher dollar making U.S. industries less and less competitive." Moreover, Gross says, "next year the expectation is that if there is a QE3, it will be mortgage-directed, and it would pay holders to load up on mortgages before the Fed does." ... |
Four More House Members Were 'Friends of Angelo'Congressional investigators said Monday that four House members received VIP discounted loans from the former Countrywide Financial Corp., the lender whose subprime mortgages was largely responsible for the nation's foreclosure crisis. Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, declined to name the four but wrote the House Ethics Committee that it should investigate the lawmakers. ... |
Fannie and Freddie's High Risk Loans Estimated at $2 Trillion
An analysis of data disclosed in new lawsuits against former executives of Fannie Mae and Freddie Mac indicates that the two own high-risk loans estimated at $2 trillion -- far more than they originally disclosed to investors.
The Securities and Exchange Commission last week announced two lawsuits filed against former senior executives at Fannie and Freddie. The defendants are accused of hiding their exposure to higher-risk loans. ...
