Exact(29)
Bond insurers, including MBIA, guaranteed mortgages while big investors bought securities backed by home loans.
Since November, the Fed has bought securities at a rate of about $75 billion a month.
Shareholders and bondholders bought securities KNOWING there was the possibility of loss.
In Europe, commercial banks have bought securities firms and insurance companies.
"Congress's intent was to protect a customer's legitimate expectations, even if the broker stole the customer's money and never bought securities," Mr. Neville said.
In the MiG case some of the money went first to an investment bank, MFK, a Uneximbank subsidiary, which bought securities and passed them on to Unikombank.
Similar(27)
Brokers provide loans to clients to buy securities.
Investors will still buy securities backed by those loans.
Lockhart also buys securities not put together by Zions.
They discussed further "quantitative easing"—ie, printing money to buy securities.
Mr Bernanke may not want to keep buying securities at this point.
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