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May 1, 2008 at 8:17 AM in reply to: Bank of England Lays Down the Analytical Gauntlet on US Sub-prime Losses #197115May 1, 2008 at 8:17 AM in reply to: Bank of England Lays Down the Analytical Gauntlet on US Sub-prime Losses #197149
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ParticipantThe report is quite detailed so a summary would be useful. My limited understanding is that mortgage backed securities are not directly commensurate with real estate values anyway. They were a means of selling on wholesale debt in order to re-finance more selling of debt. Insofar as the two may appear inextricably linked, aren’t MBSs, CDO’s etc exposed as much to the whims of the securities market, as the real estate market?
BTW, I loved the metaphor of a little old lady threading her needle. I hope it’s not a camel she’s using.
May 1, 2008 at 8:17 AM in reply to: Bank of England Lays Down the Analytical Gauntlet on US Sub-prime Losses #197174ParticipantThe report is quite detailed so a summary would be useful. My limited understanding is that mortgage backed securities are not directly commensurate with real estate values anyway. They were a means of selling on wholesale debt in order to re-finance more selling of debt. Insofar as the two may appear inextricably linked, aren’t MBSs, CDO’s etc exposed as much to the whims of the securities market, as the real estate market?
BTW, I loved the metaphor of a little old lady threading her needle. I hope it’s not a camel she’s using.
May 1, 2008 at 8:17 AM in reply to: Bank of England Lays Down the Analytical Gauntlet on US Sub-prime Losses #197198ParticipantThe report is quite detailed so a summary would be useful. My limited understanding is that mortgage backed securities are not directly commensurate with real estate values anyway. They were a means of selling on wholesale debt in order to re-finance more selling of debt. Insofar as the two may appear inextricably linked, aren’t MBSs, CDO’s etc exposed as much to the whims of the securities market, as the real estate market?
BTW, I loved the metaphor of a little old lady threading her needle. I hope it’s not a camel she’s using.
May 1, 2008 at 8:17 AM in reply to: Bank of England Lays Down the Analytical Gauntlet on US Sub-prime Losses #197236ParticipantThe report is quite detailed so a summary would be useful. My limited understanding is that mortgage backed securities are not directly commensurate with real estate values anyway. They were a means of selling on wholesale debt in order to re-finance more selling of debt. Insofar as the two may appear inextricably linked, aren’t MBSs, CDO’s etc exposed as much to the whims of the securities market, as the real estate market?
BTW, I loved the metaphor of a little old lady threading her needle. I hope it’s not a camel she’s using.
Participantyou might suddenly find families living down in their dinghy… You should sublet the slips now and advertise them as “waterfront apartments”.
HaHa! Good one. You Yanks have got a sense of humor after all.
Participantyou might suddenly find families living down in their dinghy… You should sublet the slips now and advertise them as “waterfront apartments”.
HaHa! Good one. You Yanks have got a sense of humor after all.
Participantyou might suddenly find families living down in their dinghy… You should sublet the slips now and advertise them as “waterfront apartments”.
HaHa! Good one. You Yanks have got a sense of humor after all.
Participantyou might suddenly find families living down in their dinghy… You should sublet the slips now and advertise them as “waterfront apartments”.
HaHa! Good one. You Yanks have got a sense of humor after all.
Participantyou might suddenly find families living down in their dinghy… You should sublet the slips now and advertise them as “waterfront apartments”.
HaHa! Good one. You Yanks have got a sense of humor after all.
ParticipantI suppose debt becomes a liability and can be written off as losses, but how much tangible wealth is actually being lost here? If lunacy had a price on it, you’d be able to buy it in Walmart. But it’s not just houses values that are baffling, the whole securitisation (horrible word) of debt that seems to be causing concern. Valuing mortgage backed securities is one thing but their schizophrenic cousin CDO’s, dreamed up by researchers with PHDs in maths, confounded everyone. I think we may have seen the last of them.
ParticipantI suppose debt becomes a liability and can be written off as losses, but how much tangible wealth is actually being lost here? If lunacy had a price on it, you’d be able to buy it in Walmart. But it’s not just houses values that are baffling, the whole securitisation (horrible word) of debt that seems to be causing concern. Valuing mortgage backed securities is one thing but their schizophrenic cousin CDO’s, dreamed up by researchers with PHDs in maths, confounded everyone. I think we may have seen the last of them.
ParticipantI suppose debt becomes a liability and can be written off as losses, but how much tangible wealth is actually being lost here? If lunacy had a price on it, you’d be able to buy it in Walmart. But it’s not just houses values that are baffling, the whole securitisation (horrible word) of debt that seems to be causing concern. Valuing mortgage backed securities is one thing but their schizophrenic cousin CDO’s, dreamed up by researchers with PHDs in maths, confounded everyone. I think we may have seen the last of them.
ParticipantI suppose debt becomes a liability and can be written off as losses, but how much tangible wealth is actually being lost here? If lunacy had a price on it, you’d be able to buy it in Walmart. But it’s not just houses values that are baffling, the whole securitisation (horrible word) of debt that seems to be causing concern. Valuing mortgage backed securities is one thing but their schizophrenic cousin CDO’s, dreamed up by researchers with PHDs in maths, confounded everyone. I think we may have seen the last of them.
ParticipantI suppose debt becomes a liability and can be written off as losses, but how much tangible wealth is actually being lost here? If lunacy had a price on it, you’d be able to buy it in Walmart. But it’s not just houses values that are baffling, the whole securitisation (horrible word) of debt that seems to be causing concern. Valuing mortgage backed securities is one thing but their schizophrenic cousin CDO’s, dreamed up by researchers with PHDs in maths, confounded everyone. I think we may have seen the last of them.
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