Haircuts And Downturns
3 stories for your consideration:
Obama Administration a year late and a lot of dollars short with haircuts for banks:
The Obama administration is trying to push through a settlement over mortgage-servicing breakdowns that could force America's largest banks to pay for reductions in loan principal worth billions of dollars. [. . .] Under the administration's proposed settlement, banks would have to bear the cost of all writedowns rather than passing them on to other investors. [. . . E]ven if banks agree to a $20 billion penalty, the number of mortgages that can be cured with that number is limited [. . .]
Goldman Sachs says budget cuts will significantly reduce economic growth:
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