The Subprimal Carnival
Mike's Corner celebrates the Carnival with an overwhelming subprimal
- Brian Brady explains the history of mortgage backed securities that would make Michael Lewis, author of Liar's Poker, proud.
- My favorite Silicon Valley Blogger writes up a textbook-worthy tome on how to identify and avoid mortgage fraud
- Steve Faber describes the subprime death spiral.
- Nigel Swaby explains why leverage is not necessarily bad, and down payments not necessarily good - read the comments, it boils down to financial philosophy.
- And finally first place congrats to Roger of Trulia's Transfer Tribulations. (yes, the rest were worthy reads, I just thought the focus on the worries of debt was remarkable...)
Technorati Tags: carnival of real estate, subprime
I did read Liar's Poker and much of the Lucky Lewie story came from it. The OC BK part came from my experiences at Merrill selling MBS (I was too "green' to work the derivatives desk).
I guessed the rest.
Thanks for the mention, Pat
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Brian Brady's article is illuminating, to say the least. Senator Chris Dodd opens hearings tomorrow promising "to hear the regulators’ responses before my Committee on Thursday, and hope they are equipped with effective policy proposals to help Americans who are at risk of losing their homes due to abusive practices in the market."
Ouch!!!
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