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Apple Daily Sentences Show a New Era of Media Peril in Hong Kong
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Two editors and an opinion writer from Jimmy Lai’s now-shuttered newspaper
were each sentenced to 10 years in prison, a significant escalation in
media pro...
40 minutes ago
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THE MASTERSTROKE, ...It’s never been so profitable for US banks to give mortgages.
Yet they’ve almost never been so reluctant to do it.
So now, the Fed is forcing them.
Much has been written about the Fed’s announcement of its latest effort to support the US economy with a new round of money creation and mortgage-bond buying—QE3—on Sep. 13. But few have recognized that it amounted to a shot across the bow of some of the biggest financial institutions in the country.
Here’s why. The Fed is aiming its unlimited buying power (since it can literally create money) at the market for mortgage-backed securities (MBS), the pools of mortgages where nearly all American home loans eventually end up. And the one of the largest holders of these MBS are the banks.
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