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Click to read - Bubbles and leverage cause crises: Alan Greenspan - Asset bubbles alone don't cause financial crises like the one in 2008, former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday. Instead, the combination of bubbles and leverage is the problem, he said. "We missed the timing badly on September the 15th, 2008 [the day Lehman Brothers filed for bankruptcy]. All of us knew there was a bubble. But a bubble in and of itself doesn't give you a crisis," he said in a "Squawk Box" interview. "It's turning out to be bubbles with leverage."/span>
Click to read - Reading The MBA Mortgage Purchase Index - The MBA Mortgage Purchase Index is a weekly measure that tracks the volume of nationwide mortgage loan application activity. It is based on a sample of approximately 75% of U.S. mortgage activity, including new loan origination and refinancing for single-family homes. The survey is a well-established measure of U.S. residential mortgage applications, having been conducted weekly since 1990, and it serves as a forecast of future housing construction activity. It is released by the Mortgage Bankers Association (MBA) every Wednesday at 7 am EST. MBA is the national association representing the real estate finance industry.
Click to read Ford Profit Beats Estimates as Focus to F-150 Eases CEO Concerns - Ford reported net income of $1.27 billion in a statement distributed at its Dearborn, Michigan, headquarters. Excluding one-time items, the per-share profit was 45 cents, exceeding the 37-cent average estimate of 15 analysts surveyed by Bloomberg. The second-largest U.S. carmaker raised its forecasts for total company pretax profit and operating margin for the full year.