Although this blog post is somewhat sensational (even more than me):CDS Phantom MenaceIt did have some pretty sweet pictures of how big the CDS market is getting. For those who don’t know, basically a Credit Default Swap (CDS) is like an insurance contract. In principle, it lets someone who wants to own a company’s bonds [...]
Lawrence Summers, former Chief Economist of the World Bank Secretary of the Treasury and President of Harvard, wrote an OpEd this weekend in the Financial Times that echos much of what you have read on this blog. The full article is linked here: Wake Up to the Dangers of a Deepening Crisis Several streams of [...]
I am glad to be in school right now so that I don’t have to face the pragmatic consequences of the largest train wreck in history that we have been watching since June. Another land mine was revealed recently when it Citi and others acknowledged that they basically wrote put options on CDO liquidity. For [...]
Google rox. As the blogosphere has been buzzing about they are pushing – not a phone – but an open source type alliance for building the next generation of cell-phone operating systems and software. Here is a video that will make you smile from the Official Google scoop on the matter: addthis_url = ‘http%3A%2F%2Fparanoidbull.com%2F2007%2F11%2Fgphone-g-reat%2F’; addthis_title [...]
This site is really funny: Predatory Lending Association A nice source for all the know-how you need to be an awesome predatory lender. addthis_url = ‘http%3A%2F%2Fparanoidbull.com%2F2007%2F11%2Fa-new-website-for-predatory-lenders%2F’; addthis_title = ‘A+New+Website+For+Predatory+Lenders’; addthis_pub = ”;
I just stumbled on this gem of a press release from S&P in April 2005: S&P Comments On Risk In Newer Mortgage Products, As Discussed At Industry Event There are really a lot of good quotes in here for a one page article, but here is a good one from a research analyst discussing Zero [...]
Well it is official for anyone who ever had any doubt – the biggest distressed cycle in history is underway. Remember the ABX charts I first posted in June? Take a look at them now. From high to low, these are BBB, A, AA and AAA (yes, TRIPLE A) Asset-backed security indices. This is really [...]