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Prime Time for Subprime

squidiersquidier
edited November 2007 in Housing Bubble
A good article on Slate about who's been reporting well on subprime and the housing bubble, both when no one was looking as well as moving forward.

Who is doing the best reporting on this scary story?

Comments

  • TJ_98370TJ_98370
    .
    As mentioned in the article linked by squidier, the following is a worthy read, IMHO

    What's the damage? Why banks are only starting to uncover their subprime losses
    .
  • deejayohdeejayoh
    TJ_98370 wrote:
    .
    As mentioned in the article linked by squidier, the following is a worthy read, IMHO

    What's the damage? Why banks are only starting to uncover their subprime losses
    .


    Drop in the bucket. just ask Jon over on the blog. what you've failed to do is compare the write off to total assets, you see...
  • TJ_98370TJ_98370
    I'll be the first in line to contribute my savings to offset their write-down losses - NOT.

    What is most disconcerting to me is that nobody has a handle on how severe the damage caused by the once touted "innovations" of mortgage finance will eventually be. They have sliced, diced, and gamed the system so much nobody has a clue as to the true worth of many (all?) mortgage backed securities.
  • deejayohdeejayoh
    What is most disconcerting to me is that nobody has a handle on how severe the damage caused by the once touted "innovations" of mortgage finance will eventually be. They have sliced, diced, and gamed the system so much nobody has a clue as to the true worth of many (all?) mortgage backed securities.
    well, not for lack of trying!

    did you see this article?
    RBS: $250 billion to $500 billion in Credit Crisis Losses
  • TJ_98370TJ_98370
    I think Mr. Paulson and Mr. Bernanke need a bigger container!
  • deejayohdeejayoh
    TJ_98370 wrote:
    I think Mr. Paulson and Mr. Bernanke need a bigger container!

    Well, not if you shrink the dollars...
  • jonjon
    Those markdowns are just the risk inherent in a highly leveraged investment.

    The one thing that is sure is that inflation is headed our way: falling dollar, already full employment, election. Now Clinton friend Rubin heads Citibank, which stands to gain billions overnight if inflation pushes up housing prices and also the wages of the people who need to pay those things off. Usually inflation reduces the value of debt, but those risky tranches are probably the opposite under these conditions.
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