"A republic, if you can keep it." Defeat MAGA
"A republic, if you can keep it." Defeat MAGA
Bizarrely, even though subprime in the US was the trigger that caused the now worldwide financial crisis, we will probably suffer the least because, impossible as it sounds, our banks weren’t as insane as those elsewhere. Sure, our banks are…
GE says everything’s fine, just fine, thanks for asking, as the stock drops off a cliff. The problem is their finance unit, which threatens to turn the entire company into smoking rubble. Those bothersome auditors say GM is circling the…
An ex-Countrywide honcho is buying mortgages for pennies on the dollar, then offering distressed homeowners greatly reduced monthly payments. Kurland’s new company, PennyMac (!), goes to a demolished bank or the FDIC and buys up delinquent mortgages at, say, 20…
From Wired. In 2000 a brilliant quant named David X. Li devised a mathematical formula called a copula function that got widely used by Wall Street to model risk. Li came up with an ingenious way to model default correlation…