- [Bill] Gross said the downward path of home prices “will dominate Fed policy over the next several years . . ."
- But Gross said rate cuts might not cushion the blow in housing.
- “Derivatives and structures with three- and four-letter abbreviations – CDOs, CLOs, ABCP, CPDOs, SIVs (the world awaits investment banking's next creation; perhaps IOU?) – can now take a 'depositor's' dollar and multiply it 10 or 20 times.”
- “If the Fed was so slow to grasp the role that subprime mortgages played in the housing boom and bust, do the Fed and the Treasury of today totally comprehend what happens when the nonbanking private system suddenly stops flooding the market with credit?”
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Wednesday, October 3, 2007
Pimco's Gross – housing to dominate Fed for years
A few direct quotes about the US housing market from SignOnSanDiego.
Labels:
Economics
Native Speaker of American English
Conversation practice. Chatting or in-depth discussion of news articles.
TOEFL-IELTS practice / CV, SOP, journal paper, essay revision
英語家教
彈性排課, 免通勤, 托福, 職場英文, 履歷/論文修改…等。
請看我的學生推薦信。
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