"A republic, if you can keep it." Vegas, taxes.
"A republic, if you can keep it." Vegas, taxes.
“I think there ought to be regulation of subprime. I think there ought to be regulation of prime. I don’t think that the economy is best left to its own devices almost ever. The excesses that are permitted in the…
The bond rating companies cut ratings on $12 billion worth of bonds last week, even though the information the downgrades were based was known since February. Why did they wait so long to do it? Because, Asia Times says, it…
While reading up on the subprime debacle, I came across this fascinating and unsettling tidbit. Bond rating agencies to not do due diligence but rather unquestioningly accept the data as presented by the firm who wants their bond rated. As…
More on the subprime and alt-a implosions. Investors in Bear Stearns High-Grade Structured Credit Strategies Enhanced Leveraged Fund are not only locked in, but are getting bids of 5 cents on the dollar. The ask is a mere 11 cents.…
From the Wall Street Journal, no less. (Their investigative reporting remains excellent even as neanderthals lumber across their editorial page. Lest we forget, it was WSJ that broke the Enron story. Two of their reporters went digging and said, whoa,…