flatman

Ambac's Earnings: You Can't Make This Stuff Up

So what do you bet XLF is up again today?

Financials Likely in Dead Cat Bounce, But Fed's Now a Wildcard

To me the big difference this time is that so many mortgages were interest only or no down payment. A down payment of 20% basically makes it pretty tough to walk out on your house. Even a 10% or 15% decline in house values leaves you with skin in the game. That may be why 'this time things are different'.