Weekend Notes: The Loan Modification Edition
Loan Modification Plans
The US government and JP Morgan Chase race to massive loan modification plans.
Naked Capitalism reviews the JP Morgan plan with skepticism:
So despite the use of mortgage counsellors, borrowers are NOT being assessed on an individual basis. I hate to sound like a perennial skeptic, but I doubt that these programs will be terribly [...]
Ben Bernanke Talks to New York Economic Club
It is mostly about FINANCIAL MARKETS:
Bernanke Themes:
Talk about unique nature of the financial market crisis
Recent history recapped, as only an economic historian could
More about TARP
Federal Reserve’s role in all this, relative to Treasury and FDIC
Stabilization confidence talk
Oops, a little talk about inflation again…
Global coordination is still important
Full Text of Bernanke’s address to New York Economic [...]
