OH, YEAH, REMEMBER HOW THE S&L CRISIS WAS GOING TO CAUSE A GREAT DEPRESSION…:
Return of the Resolution Trust Corp.?: Some powerful advocates are calling for a new agency to oversee debt restructuring (Jane Sasseen, 9/18/08, Business Week) In the late 1980s, Washington created the Resolution Trust Corp. to restructure the mortgages held by 750 insolvent savings and loans. By selling off assets over time rather than in a fire sale, the RTC lessened the cost of the crisis to taxpayers. [...] A new RTC would be a buyer of last resort. It might buy the mortgages and related
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Tags: Business, Buyer, Debt, Loan, Mortgage, Mortgages, WASHINGTON