"A republic, if you can keep it." Vegas, taxes.
"A republic, if you can keep it." Vegas, taxes.
That’s 20% of their work force. Just a few weeks ago their CEO was boasting about how Countrywide, the largest mortgage company in the US, would be gobbling up distressed mortgage companies. Now it’s clear they are in distress themselves.
The CEO of the largest bank in Germany says the US subprime problem will hurt the world economy, something which seems obvious enough. Yet this is not something you’ll hear from CEOs or governmental officials in the US. Why is…
Calculated Risk wonders how a retired investor thought he could get a low risk investment yielding 12% from a Bear Stearns hedge fund invested in mortgages when mortgages weren’t paying anywhere close to 12%. Thus, the hedge fund must have…
Author Richard Bookstaber, a hedge fund “rocket scientist”, presents a scary scenario in Demon of Our Own Design. Today’s financial markets are so complex and tightly coupled that a tremor in one area can have massive, unexpected fallout in another.…
It only applies to 80,000, a mere drop in the bucket compared to the millions of mortgages about to reset. Plus, as Mish points out, seems designed to help lenders, not homeowners. Big surprise, eh?