Whoops - En uppföljning.... (Nästa finanskris?)
2010-10-20 08:59Please note: Community posts are written by its members and not by Redeye’s research department. As a reader you’re always encouraged to critically analyze the content.
Skrev häromda´n bloggen "Whoops. The court gave your house to the wrong bank.", där jag bl.a. skrev: "I periferina av ForeclosureGate börjar det så sakterliga mummlas att de som idag investerat i MBS, (mortgage backed securities) eventuellt kan vilja göra en "Ctrl+Z", d.v.s lämna tillbaka sina MBS till bankerna i utbyte mot att få sina pengar tillbaka."
Igår började investerares Ctrl+Z-önskan nå Amerikansk media med stora rubriker, Bloomberg har idag bl.a. denna artikel på sin webb:
"N.Y. Fed Adds `Weight' to Mortgage Investors Seeking Relief"
http://www.bloomberg.com/news/2010-10-20/new-york-fed-adds-weight-to-mortgage-bond-investors-seeking-loan-relief.html
Saxar aptitretare:
"The regulator joined a group including Pacific Investment Management Co. and BlackRock Inc. in a letter to the lender and to Bank of New York Mellon Corp., the trustee for $47 billion of mortgage-backed bonds sold by Bank of America’s Countrywide Financial Corp. unit, people familiar with the matter said. Countrywide failed to service loans properly, law firm Gibbs & Bruns LLP said in a statement that didn’t name the firms."
"Banks’ costs from repurchasing mortgages in securities without government backing may total as much as $179.2 billion, Compass Point Research and Trading LLC analyst Chris Gamaitoni estimated in August, including expenses related to lawsuits against bond underwriters."
"JPMorgan Chase & Co. analysts said in an Oct. 15 report the costs may reach $80 billion, reduced in part by the difficulty investors have getting trustees to act and a typical requirement that misstatements about loan quality must be “material.”
"The initiative covered by the letter sent to Bank of America and BNY Mellon yesterday is separate from the effort coordinated through Dallas lawyer Talcott Franklin, Patrick said. That firm is coordinating action for a larger group of mortgage-bond investors holding more than $500 billion of the debt."
Jag avslutar med ett annat stycke ur min förra blogg:
"Efter att under helgen ha läst in mig en del runt det som i USA numera kallas ForeclosureGate börjar jag få en allt starkare känsla av att den nya (evetuella) kvatitiva lättnad som FED började flagga för i slutet av Augusti egentligen inte är ngt. annat är ett nytt program för att rädda de Amerikanska banksystemet från en ny kolaps."
PS/
Jag rekar att de som är intresserade även läser John Mauldins blogg, (speciellt delen "The Foreclosure Mess):
http://seekingalpha.com/article/230458-the-subprime-debacle-act-ii