Monolines = Duolines
A quick definitional linguistic note: From now on, I am no longer calling the misnomered monolines by that incorrect name....
UBS on a Trillion Dollar Meltdown
Interesting discussion from the FT (3 parts) with George Magnus, UBS senior economist advisor: click for video Thanks, Dominique! >...
Site of the Day: Countrywide-Foreclosures
Here’s a fun site: Track how many REO (Real Estate Owned by bank) that Countrywide has taken in: Countrywide Foreclosures...
The Bankers’ Bailout
I mentioned this yesterday (Inflating Our Way Into Recession), but I thought it was an important enough piece to highlight on its own....
Feldstein: Holy S*&#!
Shorter Martin Feldstein: -More Fed regulation of financial institutions is needed; -The national fall in house prices is...
Credit Default Swaps and Financial WMDs
Gretchen Morgenson’s NYT article yesterday offered a good primer about Credit Default Swaps (CDS): Few Americans have heard of...
WTF Headline of the Day: Britain nationalizes mortgage lender...
Holy crap! Britain nationalizes mortgage lender Northern Rock Britain said on Sunday it will nationalize ailing mortgage...
How SubPrime Really Works
Since its a slow Friday before a 3 day weekend, let’s have some fun. As the credit market has gone into the crapper over the past...
FGIC: Let Us Split in Two
Privately held bond insurer Financial Guaranty Insurance Co. (FGIC) asked the NYS Insurance department to allow them to cleave them in...
The Monolines Are F#@%ed!
If you had any doubts that the Monolines (Ambac, MBIA, FGIC) were f$%#ed before, well, they should be totally eliminated from your mind...