Relevant:
2010-03-19 — housingwire.com
" The mortgage-finance alternative to securitizations, covered bonds, came one step closer to larger acceptance in the US secondary markets with the introduction of the highly-anticipated United States Covered Bond Act by Rep. Scott Garrett (R-NJ)."
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Comments:
tvsterling at 21:58 2010-03-19 said:
So little difference in the two products EXCEPT for big benefits to the creditor. Nothing more than a different color of s@#t. These covered bonds are even a bit smellier. MORE transparency is needed & these look to be twice as murky to me. Twice the opportunities to do dirty deeds in the dark of the moon. Twice the danger to the holder of some pitiful, make believe, second rate interest in the property. Rat poison with a sugar coating. Wouldn't it be better just to end all of this class of instrument instead of letting it breed & raise a family? Typical Republican legislation; written by & for the big money interests. Permalinkadd a comment | go to forum thread
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