“Come on, JWM you are chronically concerned about this, truth be told. Getting nervous? It will be o.k.”
2 -3 months ago, I was quite honestly concerned. At that point, the subprime mess finally started to get publicized and yet a lot of the posters didn’t want to believe that there was a systemic credit issue developing. Then suddenly in the past few weeks, BSC blows up and all of the ratings issues come to light and we begin to the credit contraction in earnest. I would say that the MBS investors did my work for me.
