Economy

dixiegrrrrl

(60,158 posts)

103. If I read this right( so ealy in the am)

Sun Jan 15, 2012, 08:53 AM

Jan 2012

it is admitting that the banks, which SOLD the toxic mortgages to funds, ( and knew they were toxic)
also got themselves insured against the losses of said toxic mortgages
and now are worried that one of the insurance companies is running out of money.

( perhaps because the banks had so many claims for insurance on the toxic mortgages they sold???)

One reason the banks had claims is because part of the agreement they made to the funds they sold the mortgages, was they
(the banks) would have to buy back any "bad" mortgages.

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