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Tag Archive 'subprime'

I Stepped into the Wardrobe

Holman Jenkins is one of my favorite columnists, until today. In today’s article he recommends destroying tens of thousands of new, but vacant, homes as a way to buoy home prices, restore confidence in home buyers and to sure up the many financial institutions that have a horse in the housing race.

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On Preventing Foreclosure

A self-professed¬†“classically liberal” friend of mine continues to make the claim that.¬†“It is difficult to deny the relief to the mortgage borrowers once the pirates have helped themselves to the Treasury.” In other words, since the Fed and Treasury are taking actions to bail-out the major financial institutions (a terrible idea, I agree), then it […]

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You Say Potato …

The following is excerpted from remarks by David Einhorn in October 2007: Consider municipal bonds. According to S&P’s long-term data the 10 year default rate on an A rated municipal bond is 1%; while a corporate bond’s default rate is 1.8%; and a CDO’s is 2.7%. An A rated muni has the same chance of […]

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Read a bit more about this here. Insights and guidance, as always, appreciated. Where are markets seizing up? It does not appear to be in bank credit; it does not appear to be in the commercial paper market? Is it simply that the MBS market has frozen? Perhaps, and that does not seem to have […]

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Gloom and Doom

While funny, I’ll just add that it is not necessary reflective of my view.

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