Update @ 11:07 — Looks like the credit markets are easing up now. Fed funds rate has dropped to 2.5% now… Briefing.com just posted the following note about what’s going on in the credit markets today. This is what many, including Art Cashin this morning, are very concerned about: Floor Talk: Equity markets rebounding but [...]
Posted by 18 September 2007
Fine Line: Sub-Prime Decline – The Richter Scales
Posted by 18 August 2007
Countrywide, oh Countrywide…
The Chairman posted a link to an article about a “bank run” on Countrywide Financial Corp. (CFC) . I just had to shake my head and laugh after reading that article. I’ve been watching that company, which happens to hold my mortgage, closely this year. Back in March when the subprime/credit concerns first got serious [...]
Posted by 28 June 2007
Subprime Quote of the Day
From a Bloomberg article about the second U.K. hedge fund this week to blow up due to subprime mortgage investments (via Jack Stevison): “The losses are going to be phenomenal” for funds worldwide holding subprime debt, said Peter Schiff, president of securities brokerage Euro Pacific Capital in Darien, Connecticut. “My guesstimate in the subprime world [...]
Posted by 26 June 2007
Subprime Crisis is Not an Isolated Event says Bill Gross
PIMCO’s Bill Gross covers the Bear Stearns/subprime crisis in his July 2007 investment outlook, which is entitled “Looking for Contagion in All the Wrong Places”. Here are some snippets: Many of these good looking girls are not high-class assets worth 100 cents on the dollar. And sorry Ben, but derivatives are a two-edged sword. Yes, [...]
