Are Bankers Incompetent Morons?
Shorter Floyd Norris: We bankers are idiots, we can’t do basic math, have little in the way of risk management. Lobbying for FASB...
Read it here first: Incentives Distorting Home Prices
Since the Housing market peaked in August 2005, we have argued that reported home sale prices dramatically understate the actual price...
NYT: Blaming the Fed for the Sub-Prime Mortgage Crisis
> “Hindsight is always 20-20, but it’s clear the Fed should have acted earlier. Financial innovation is great, but you have to...
Federal Reserve Department of Irony
The Fed released these two announcements today: Federal Reserve and other central banks announce measures designed to address elevated...
More Trouble for Mortgage Securitizers?
Looks like the Bankruptcy Courts in San Diego are challenging parties far removed from the original mortgage to provide actual proof that...
Treasury Plan to Freeze Mortgage Rates
>"More than 30 percent of borrowers with subprime adjustable- rate mortgages are behind on their payments before their loans...
No Conspiracy Theory — Just Data
One of the things people do not understand is a basic truth about the BLS, BEA, Commerce Department, and other government data sources. I...
US Leading Global R&D Spending
Nice interactive data set, from FT: Source:US ahead as global R&D spending up 10%John Willman in LondonFT, November 11 2007 18:21 |...
The Abysmal Track Records of Moody’s, Fitch and S&P
> “How could the credit-rating agencies be so wrong consistently? [They were] wrong on Mexico, wrong on Asia, wrong on Enron, wrong...