Relevant:
- SEC seeks tighter rules on asset-backed securities
- FDIC Board to Weigh Risk-Retention for Asset-Backed Securities
- Residential mortgage backed securities - a fresh start
- FASB May Let Banks Delay Losses on Some Asset-Backed Securities
- JPMorgan Chase To Sell Mortgage-Backed Securities Backed By Loans In Default: Report
2010-04-07 — reuters.com
"U.S. securities regulators on Wednesday proposed plans to restore confidence in credit markets with strict rules for complex asset-backed securities such as those linked to shoddy mortgages that contributed to the financial crisis."
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Comments:
tvsterling at 07:02 2010-04-08 said:
Nice Try but not enough. What happens when another Bushy The Bungler gets into the Whitehouse & fires all the regulators or installs crony bosses who dismantle the whole thing? Who picked 5% retained risk on SOME paper? More like 10% at least on ALL paper. These jerks still won't have enough skin in the game. Whopee, investors get a few days to look over some cooked up prospectus. Wall St now has lying with statistics honed to a fine art. The whole thing smells like the banker's lawyers wrote it. At least the raters (like Standard & Poors)are out of the picture. Permalinkadd a comment | go to forum thread
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