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Loan Modification
: Mortgage Lender Implode-o-MeterThe Fed ?Owns Credit-Default Swaps ... On Debt Owed by California and Nevada. So the Fed Would Profit If One of Those States Defaulted on its Debt.?
By Implode-Explode Heavy Industries
In the you-can't-make-this-stuff-up department, NPR points out:
As part of the bailouts of AIG and Bear Stearns, the Federal Reserve Bank of New York spent more than $70 billion to buy toxic assets the companies owned. Last week, prompted by a lawsuit filed by Bloomberg News, the Fed finally told the world exactly what it bought.
Full post as published by Mortgage Lender Implode-o-Meter on May 13, 2010 (boomark / email).
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