Tag Archives: chief investment officer

Who Wants To Buy Some Toxic Mortgages?

Not TCW apparently. It is pulling out of this government program. This can’t be good news for the U.S. Treasury. Report: L.A. money manager TCW Group has dropped out of the Treasury’s program to buy toxic-mortgage assets from banks, and … Continue reading

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Fed Keeps Short-Term Interest Rates Near Zero

Most economists expect inflation to jump as the federal government must finance enormous deficits, theoretically crowding out private businesses in the struggle for loans. Though economic activity is no longer declining, it’s not advancing much either. A shaky economy prompts … Continue reading

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Wall Street Jumps 900 Points

From the Los Angeles Times: In Wall Street’s continuing game of stock-market roulette, share prices soared in the last hour of trading Tuesday, sending the Dow Jones industrial average up almost 900 points, its second-biggest point gain on record. But … Continue reading

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Tough Medicine For The Mortgage Sickness

From Freep.com: Like medicine that works but tastes awful, the government bailout of Wall Street may help Main Street families — but only by causing them considerable discomfort. Without a bailout, financial markets may have collapsed in a string of … Continue reading

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Tightened Credit Arteries

From the New York Times: “The mortgage finance system in the United States has been badly damaged,” said Anthony Lembke, co-head of investments at MKP Capital Management, a hedge fund firm that is a big investor in mortgages. Bond investors … Continue reading

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Housing Market Crumbles

From the BBC: Shares in US mortgage finance giants Freddie Mac and Fannie Mae have plunged again on fears that the government will be forced to bail out the pair. The slide reignited concerns about the health of the financial … Continue reading

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Mortgage Mess Still Unfolding

From the New York Times: As home prices sink, people are falling behind on their mortgages in growing numbers. The index just had its worst June (down 8.6 percent) since 1930 (down 16.5 percent). Financial shares keep falling. Even as … Continue reading

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USB Mortgage Losses

May 26 (Bloomberg) — UBS AG, the European bank hardest hit by the U.S. subprime contagion, fell the most in more than two months in Swiss trading after saying it may face more losses from mortgage securities. UBS declined 1.74 … Continue reading

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Where Do Small Businesses Go To Raise Money?

The New York Times reports on a recent conference in Southern California for small businesses seeking capital. Surprisingly, the mood was upbeat. The market for venture capital is nowhere as overheated as a few years ago. The internet is a … Continue reading

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Buying Bad Mortgages

Reuters reports that there are buyers for distressed mortgages: BOSTON (Reuters) – Money management firm BlackRock Inc (BLK.N: Quote, Profile, Research) and hedge fund Highfields Capital Management are backing a new firm that will buy up distressed mortgages, betting that … Continue reading

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