Money & Company

Tracking the market and economic trends
that shape your finances.

« Previous Post | Money & Company Home | Next Post »

Wall Street Roundup: Hot-potato mortgages. Vulture saviors.

August 18, 2010 |  9:29 am

Hedge-fund giant quits. George Soros' one-time deputy Stanley Druckenmiller, who never had a losing year, told Bloomberg he decided to quit after having to miss a golf tournament in Scotland because of work.

Hot-potato mortgages. Fannie Mae and Freddie Mac are trying to make banks buy back bad mortgages they originated, but banks are doing everything they can to avoid the repurchases and the write downs they would force. 

Financiers on Fannie and Freddie. A number of big finance folks said at a conference this week they wanted the government to stay involved in the mortgage market.

Vulture saviors. The Wall Street Journal looks at the vulture investors who are helping homeowners modify their mortgages to stay in their homes.

-- Nathaniel Popper