Rising Defaults on Credit Card Bills
This can’t be good: "US consumers are defaulting on credit card payments at a significantly higher rate than last year,...
“Capitalism without Financial Failure is Not Capitalism...
Jim Grant with a very worthwhile read in this yesterday morning’s NYT: The Fed’s Subprime Solution. Grant notes that credit boom...
CDO Insiders: “We Knew We Were Buying Time Bombs”
Here’s an email I received late yesterday from a friend, "R," who was in the CDO business from way back when to right...
Five Reasons Why the Fed Won’t Cut Rates
The Fed assumption made by many is that its a sure thing that Bernanke and the FOMC are going to give into the whining and pleading and...
Truth-in-Lending Disclosure Failure Leads to Mortgage becoming...
Every now and again, a potentially significant story manages to slip through the cracks, barely noticed by anyone. A recent Dow Jones...
Capital One 0.75 Financial
Kevin Depew of MV notes that Capital One Financial was closing their GreenPoint Mortgage division and laying off 1,900. With tongue...
Catching up with the Fed’s Thinking
The WSJ has what appears to be an "All Fed, All the Time" edition out this morning. A combination of articles does a very good...
The Quants Explain Disaster
Floyd Norris posted a fabulous take down of the report from Goldman Sachs entitled “The Quant Liquidity Crunch." The...