NY TIMES – Deadbeats??? Biggest Defaulters on Mortgages Are the Rich

“Two years ago when the first waves of defaulting mortgages started occurring I saw a lot of ‘moral hazard’ references in comment sections. The less well to do and financially unsophisticated were scorned for being so foolish as to take on debt they should have known they couldn’t handle. So where’s that moral hazard now. … Read more

Yep, Those Scumbag Deadbeat Defaulting Homeowners Finally Pay the Price

Somebody Everybody want to educate this “fool” on how the Homeowners took down the Entire Global Economy??? Defaulting Homeowners Finally Pay the Price By Dan Caplinger July 2, 2010 | Comments You can send Dan feedback via email Excerpts… For years, defaulting homeowners who couldn’t repay their mortgages have been portrayed as victims. That mentality … Read more

Understanding the Securitization of Subprime Mortgage Credit

Federal Reserve Bank of New York Staff Reports In this paper, we provide an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. We discuss the ways that market participants work to minimize these frictions and speculate on how this process broke down. We continue with a complete picture … Read more