John McLeod

http://HousingDoom.com

4 Comments

    • ON: Tue Aug 26th 10:23 AM
      Commented on:
      Does Moral Hazard Apply to Sovereign Wealth Funds?
      This is the third advocate for an agency debt haircut I've seen in the last month (1st Nouriel Roubini, 2nd James P. Tuthill). I believe the sticking point here is what would happen to yields over treasuries of agency debt (90bp over yesterday in the FRE bill sale heard around the world) if Paulson were to endorse Roubini's "very modest" 5 percent haircut. The rates on 30 year fixed conforming mortgages (unless Paulson himself bought the paper) would likely rise.
      View article »
    • ON: Sun Aug 10th 18:56 PM
      Commented on:
      The Auction-Rate Security Mess: Read the Writing on the Wall
      This is the first time I've seen an assertion about Dark Pools affecting ARS, or for that matter any market. I expect that we will see more and more stories about how the perfection of Romulan cloaking technology for institutional investors has wreaked subtle havoc with just about everything.

      But congratulations on being first.
      View article »
    • ON: Tue Jul 8th 10:55 AM
      Commented on:
      Several Firms Come to Defense of Fannie, Freddie
      Even if FASB allows the GSEs (and heaven knows how many other sectors) to keep their QSPEs, I'm concerned about just who is on the buy-side of those $1.4+ trillion of deals Fannie and Freddie wrote. There is curiously little talk about just who is supposed to have taken on all that risk in the first place.
      View article »
    • ON: Mon Nov 19th 10:24 AM
      Commented on:
      Fannie Mae Looks Like Hell
      Tanta at Calculated Risk blog has a long detailed rebuttal to Eavis that is a must-read for anyone trying to make sense of this story.
      View article »
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