Mortgage-backed Securities | featured news

Bank of America Corp's Countrywide mortgage unit has been sued by investors claiming they were victimized in a "massive fraud" when they bought mortgage-backed securities.

Despite the massive repayments of TARP money coming from our biggest banks, the financial system is still very much dependent on the rescue operations of the government.

Perhaps the best illustration of this is the massive balance sheet of the Federal Reserve, which has inflated by purchases of $1.058 Trillion of mortgage backed securities.

The board that sets U.S. accounting standards voted to adopt guidelines that could reduce the losses banks have been forced to report as the values of their securities have crumbled.

Treasury Secretary Timothy Geithner says government will spend up to $100 billion to join private investors in buying up to $1 trillion in bad sub-prime mortgages, securities and other ailing assets.

The Obama administration today formally unveiled details of its long-awaited plan to help cleanse banks and financial institutions of bad home loans and toxic securities, making a calculated gamble that partnering with private investors to buy the assets will stabilize the crisis while limiting the

The trustee in charge of untangling the mess brought on by the Bernard Madoff scandal told investors Friday there was no indication the financier bought securities for his clients.

U.S. Treasury Secretary Timothy Geithner will lay out a bank-rescue plan on Tuesday that will rely on public and private funds to take $500 billion of bad assets off banks' books, sources said.