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Subprime Reading

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by Felix Salmon
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Cuomo Stalks Wall Street, Mortgage Edition   The Subprime Plan: Now, It's Political

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Dec 06 2007 12:00am EDT

Subprime Reading

The Milken Institute has chosen today to launch three big studies on subprime mortgages, which certainly makes it timely. In the first one, we're told that subprime mortgages do help increase homeownership. (Whether that's a good thing or not is of course a different question.) In the second, the catch-all term "subprime" is examined in the context of 29 different mortgage products and found to be not particularly illuminating. The third paper looks at hybrid loans, concluding that they "will indeed worsen the foreclosure problem, but they are not the cause of it."

Also worth reading: Nouriel Roubini, Tanta, Elizabeth Warren, Barry Ritholtz, and the news that S&P thinks the mortgage freeze may cause downgrades.

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