Helping Good Investors Make Better Decisions
There’s been a fair amount of discussion regarding the term “Moral Hazard” of late. Once the province of academicians and those working in the insurance world, the term has become one used by the masses – even my grocery store checker here in our metropolis of Bozeman used it (incorrectly) yesterday.
The Editorial Board at WSJ […]
Several of our board team have sent a heads up in today regarding an article published at Brookings today – “A Brief Guide to Fixing Finance”.
Written by a couple of their senior fellows – Martin N. Baily and Robert E. Litan, the article has a particularly good, if not over-simplified, explanation of what went […]
Barrons / MarketWatch have both posted an article today titled “The Endgame Nears for Fannie and Freddie”. The articles takes a very critical look at the accounting shenanigans that are practiced daily by these GSE behemoths, and the author posits that after accounting for deferred tax assets and generous assets marks, the Fannie and Freddie […]
Hotly discussed in many venues today, the morning’s big news was the intervention planned and underway for Fannie and Freddie by Treasury and the Fed.
Interestingly details of the actions proposed are still lacking. The Treasury announced late Sunday that it will seek Congressional approval for a temporary (it would be interesting to see how many […]
Apparently waiting until the markets closed this afternoon, the feds seized control of IndyMac Bank, one of the largest S&Ls in the nation with over $32 billion in assets. IndyMac is by report the second largest bank to fail in the nation, topped only the Continental Illinois National bank and trust company ($40 billion, 1984).
The […]
Wow, what a difference twenty-four hours can make.
You’d have to be hiding under a rock today to not know that Fannie and Freddie’s free-fall has not slowed, but in fact picked up steam today. I’d venture the lunch of your choice at our favorite outdoor eatery here in Bozeman today (The Garage) that you’re probably not […]
Over the past 24 hours there has been a tremendous amount of variant speculation and some very thoughtful journalism being proffered as to the status and potential fate of both Fannie and Freddie.
Here are several articles and posts that we’d suggest you scan today to at least cover what some bright and considerate folks are […]
Bert Ely has an op-ed in today’s WSJ that deserves some read time. Ely has an interesting track record of being way ahead of the curve in predicting the S&L crisis several years ago, and he’s the principal of Ely and Company. That’s not a picture of Ely as far as we know.
Here’s a link […]
The lead article in today’s WSJ reports the Journal’s continued investigation into the reliability of the LIBOR – a “crucial global lending benchmark”. We’ve been following the story for some time, and are putting together a special report on the LIBOR for the June issue of the Single Family Emerging Market Report due out next […]
Here’s an interesting follow-up to our Libor post a few days ago.
The BBA (British Bankers’ Association) decided on Wednesday to speed up an inquiry into the daily borrowing rates that banks are reporting which are then used to calculate the Libor (London Interbank Offered Rate).
The crux of the issue is this – there has been […]
There was a very thoughtful op-ed written by Ethan Penner in Tuesday’s (25 Mar) WSJ – titled “Of Markets and Mortgages”. Fair disclosure right off the bat requires noting that Penner helped pioneer the application of securitization technology to real estate finance during his earlier days.
Penner makes several compelling points in his discussion – the […]
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