N.Y. Fed can relate to mortgage woes of banks, investors

04/2/2010 | Wall Street Journal, The

A look at portfolios that the Federal Reserve Bank of New York assumed as part of financial rescues reveals a mix of troubled commercial-property loans, securities backed by subprime mortgages and other nonperforming loans. The takeover of Bear Stearns' assets left the New York Fed holding credit default swaps on debt issued by Florida, California and Nevada.

View Full Article in:

Wall Street Journal, The

Published in Brief: