Well the greedy lenders were left holding the bag. Many mutual funds and securities purchased and invested in these sub-prime loans so they took huge hits as well. They dump their holdings related to the issue and become more risk averse.
Feds Move Against Investment Fund Owner, alleging fraud scheme | New York Law Journal The Home Equity Theft Reporter: Investments Tied To Subprime Junk May leave florida pension fund "Holding The Bag" Market data is provided for informational purposes only, does not constitute investment advice, and may not be used for trading. Market data.
4. to pension funds.understand how we must understand something which is known as securitization. As the subprime portion of these mortgage pools were defaulting at a much faster rate than expected. it As no one knows who has been left holding the bag with the subprime debt.
With all of the Obamacare news dominating the headlines you may have missed that Obama and Co. sold part of the loan they had made to automaker Fisker to an investor for 25 million dollars, leaving you, the taxpayer, responsible for the $139 million remaining on the government’s original loan.
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The seller may have to pay the buyer for all sorts of costs, including money spent on hotels or temporary housing because they did not honor the deal, the funds expended by the buyer during the course of the The buyer isn’t the only person the seller left holding the bag in such situations.
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The Federal Reserve believed the subprime mortgage crisis would remain confined to the housing sector. The securities were also in mutual funds, corporate assets, and pension funds. No one wanted to get stuck holding the bag. As a result, interbank borrowing costs, called Libor, rose.