Category Credit crisis

Nearly half of blacks who bought a house in 2005 or 2006 ended up with a high-interest mortgage, compared with 13 percent of white home buyers, according to an Atlanta Journal-Constitution analysis of federal mortgage data. The disparity was striking,…

It’s a truism that Wall Street runs on greed and fear. The fear factor just got cranked up for some of them. The NY Atty General is suing Washington Mutual for inflating real state appraisals while the SEC likely to…

Even the Brahmins at Barron’s are skeptical of the current stock market. Countrywide announced hideous earnings and a huge write off last Friday which triggered, you got it, a big rise in the stock price as the Bloomberg cheerleaders joined…

I took me a little while to understand this chart. Here’s what it says. 14% of the total dollar amount of subprime mortgages in 2006 went into 60-day delinquencies. Most did so within the first six months, a staggeringly high…

Wherein it is explained how an unemployment man sitting on a stoop morphs into a Structured Investment Vehicle worth $100 million. Oh wait, it was worth $100 million, then it wasn’t, now no one has a clue what actually it’s…