Reply by ikando on 10/9/12 4:21pm
Msg #437815
I found these statements interesting:
"As a result of Bear Stearns’ and the other defendants’ alleged negligence, investors suffered cumulative losses of approximately $22.5 billion.
In addition, another $30 billion in unpaid principal on mortgages remains in those trusts, 43 percent of which is currently 90 days past due, in foreclosure, or considered REO. Schneiderman and RMBS Working Group anticipate more losses from those mortgages."
So the SEC is concerned about the investors in the real estate bundles, but what about the subprime borrowers whose properties were in the bundles? It'll be interesting to see how big the slap on the hand will be.
|
