Ocwen Financial taking a beating in the ratings, on the Street NEW YORK — Shares of Ocwen Financial (OCN – Get Report) were gaining 18.3% to $10.04 on Friday after the mortgage investment company beat analysts’ estimates for earnings and revenue in the first.
There’s only one problem: Central banks have not removed the supports they put in place during the last recession." In other words, the economy is still hooked to the central bank life support system after more than 10 years. When the next crash comes, what is the Fed going to do? You can’t put the economy on more life support. Rickards.
The managing director of money management firm pimco pointed out that the Federal Reserve is caught in a bind: It must continue. banks use to profit from the spread between short-term debt and long.
Big Banks Will Take Depositors Money In Next Crash -Ellen Brown. There is also $280 trillion worth of derivatives that the five biggest banks in the U.S. are exposed to, and under the bankruptcy reform act of 2005, derivatives go first. So, they are basically exempt from these new rules. They just snatch the collateral.
The Federal Reserve works to promote a strong U.S. economy. The Congress has directed the Fed to conduct the nation’s monetary policy to support three specific goals: maximum sustainable employment, stable prices, and moderate long-term interest rates. These goals are sometimes referred to as the Fed’s "mandate.".
The Fed wants to stimulate lending, but an anti-lending bank could be quite successful. I would be a customer. (Interestingly, there was a famous anti-lending bank and it was also a "BofA.