We hope that his earlier actions haven’t caused irreparable damage, but we’re doubtful.
This is a longish post that covers several aspects of the ongoing financial crisis and, for the convenience of new visitors, contains plenty of reference links to earlier posts.
In our mind, until last week, the current Treasury Secretary had an incredibly long and unbroken string of wrong […]

We were surfing the web this morning, and found this very nice analysis of Warren Buffet at Yahoo Finance: Down $16 Billion - Has Warren Buffett Lost His Touch?
It’s well-balanced and well-written, but the author, Simon Maierhofer, notes that the last two months of reality have not been very kind to Mr. Buffett.
We’re not into hero worship; […]

We’ve discussed Commercial Mortgage-Backed Securities or CMBS in a number of posts.  So, it’s worth mentioning that spreads on AAA CMBX (CDS) increased substantially on Tuesday.  At about 550 basis points, those spreads seem to be twice as high as the previous all-time high, which was reached in the late winter of this year, and […]