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1/5 mortgags held by banks non-current!

Started by Riversider
almost 15 years ago
Posts: 13573
Member since: Apr 2009
Discussion about
This is just more proof that the banks are insolvent and only kicking the can down the road. FT. reports that 1/5 non GSE loans held by banks are 30 days or more delinquent and actually performing far worse than GSE insured loans. The banks have turned themselves into a REIT managing non-performing loans. Maybe we need a new RTC so that there can be an orderly liquidation, have these losses recognized and move on. http://www.ft.com/intl/cms/s/0/6be61b08-9518-11e0-a648-00144feab49a.html#axzz1OzjpkNod
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