Sandra Braunstein
Fri, May 16, 2008
Federal Reserve Bank of Chicago's Annual Conference on Bank Structure and Competition
If government steps in too quickly, it could stifle innovation and hurt the financial sector. But on the other hand, if regulators wait too long, they find themselves "sweeping up after the elephant", she said.
"What is the next thing that's going to happen after we finish this crisis, and can we get ahead of it?" Braunstein said, during a panel on the subprime mortgage outlook.
As reported by Market News International
See Also: Financial Stability Source: www.marketnews.com
Thu, May 22, 2008
Conference of State Bank Supervisors
[The mortgage crisis] is bad and it's getting worse.
As reported by Bloomberg News
See Also: Forecast , Mortgages, Housing, Current Economic Conditions/Outlook Source: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=at0_gfTgjcI8
Thu, May 22, 2008
Conference of State Bank Supervisors
We have been pushing [mortgage servicers] to help more struggling homeowners avert foreclosure. It is our feeling, I will state very bluntly, that not enough is being done.
[The Fed is] pushing the industry to consider principal writedowns on these loans, and we have met with a lot of resistance.
As reported by Bloomberg News
See Also: Forbearance, Lending Practices, Mortgages, Housing Source: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=at0_gfTgjcI8