Rortybomb quotes Megan McArdle: This is why I’m still having trouble wrapping my brain around the notion that even a very large increase in the default rate can wipe out something like 2/3 of the value of these assets. Most of these loans will perform. And in the case of those that don’t perform, while [...]
Archive for April 10th, 2009
Toxic Asset Pricing
Posted in Meltdown on April 10, 2009 | 1 Comment »
Disconnected
Posted in Meltdown, Obama, Tim Geithner on April 10, 2009 | Leave a Comment »
What does this mean (courtesy Baseline): Credit Default Swap Spreads (PDF) Somehow, despite all the rosy talk of the government, stocks are going up yet CDS on banks is at an all-time high. Hasn’t the government made clear that it will defend the bank creditors at all costs? Johnson explains it this way: The latest [...]
Piracy
Posted in Africa, Military on April 10, 2009 | Leave a Comment »
Somali pirates, after rather unsuccessfully taking over the Maersk Alabama, have taken the captain hostage and fled on a lifeboat. They are now somewhere off the coast of Somalia, ostensibly out of range of land and surrounded by Navy warships.
