Tyler Cowen: “Predatory Borrowing The Bigger Problem”
Original title: Tyler Cowen, Apologist for Fraud? > Over the years, I’ve noted the problems I’ve had with Economists...
Consumer Debt & Spending
This week, the Federal Reserve reported that revolving consumer credit had risen 7.4% from the same period last year. Outstanding...
Mozilo Exit Payday: $110 Million Dollars
Nothing like a combination of reckless lending standards, aggressive stupidity and irresponsible behavior being rewarded. For pushing no...
The Danger from Bear Stearns New CEO
Scarsdale Equities holds a regular luncheon, immortalized in the book The Money Game. I am privileged to occasionally break bread with...
Merrill vs Bear: Two Contestants, No Winners
You may have overlooked this short but fascinating column in Bloomberg yesterday: "Merrill Lynch, founded in 1914, sold hundreds of...
Quote of the Day: How Banks Lose Money
This is a classic:> "I don’t know why the banks had to find new ways to lose money when the old ones were working so...
The Credit Crunch, as told by Dr. Suess
The following has ben pinging round the inter-tubes for weeks . . . The author is Cameron Crise of Fortis Investments in London:...
Dollar Value Inventory of Unsold Homes
Since we have New Home Sales at 10:00am this morning, let’s take a look at U.S. House Inventory, Priced in Dollars: > Total...
The Making of a Mortgage CDO
There’s a wonderful set of flash based illustrations of how CDOs are put together as an online companion that goes with the must...
Shiller: Single-family Housing Market is “Grim”
Data through October 2007 for the Case-Shiller Home Price Indices fell 6.1% year over year, showing broadbased declines in the prices of...