Subprime Not Over For Banks [Housing Tracker [View article]
Many of these banks have standby facilities with their clients who have the VRDOs outstanding. What will happen to the banks balance sheets when their clients start to use the facilities to "guaranty" their VRDOs to stabilize their rates?
The Bloody Knife Used to Gut Bear Stearns? [View article]
Wow. So the Fed got a two-fer by guaranteeing the Bear's garbage which was actually JPMs? That must've been some very interesting conversation over that weekend. One wonders who was next in that Ponzi chain after JPM.
Would be very interesting if people had to raid (those that could) their 401ks, IRA's etc, sell stock? to cover the mortgage? which is ironic given that those vehicles are protected in bankruptcy and the house isn't. It makes more sense to walk away and start over.
Thinking About the Bear Stearns Bailout [View article]
Unbelievable from $159 to $2 in a year. No one could've seen this coming. JPM got the deal of the century. Between this deal, the discount rate cut, and the yen weakening, what does Monday portend?
The Bailout's Pathetic - Here's Who To Blame [View article]
why aren't management and the creators of these instruments and the risk management (LOL) part of the board being carted off to jail? This is clearly negligent if not criminal....
Subprime Not Over For Banks [Housing Tracker [View article]
The Bloody Knife Used to Gut Bear Stearns? [View article]
28/36- Why House Prices Must Fall [View article]
Why aren't we seeing any perp walks yet?
Bear Stearns Buyout: Don't Panic - Initial Reactions Look Overdone [View article]
Thinking About the Bear Stearns Bailout [View article]
What's In Store for Bear on Monday? [View article]
The Bailout's Pathetic - Here's Who To Blame [View article]