Comments for Crash Survival Zone

Comment on Featured Website: Swaptree by Jenny

Jenny — Tue, 23 Jun 2009 23:01:50 +0000

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Comment on The Quiet Coup by Is America the new Russia? | Crash Survival Zone

Is America the new Russia? | Crash Survival Zone — Fri, 17 Apr 2009 03:21:49 +0000

[...] and a professor at the Sloan School of Management at the Massachusetts Institute of Technology. In an article in the May issue of the Atlantic Monthly, Prof Johnson compares the hold of the “financial oligarchy” over US policy with that of [...]

Comment on About by Caren

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Comment on Has Fear Blinded Investors to Value? by ns trading platforms

ns trading platforms — Mon, 06 Apr 2009 16:29:23 +0000

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Comment on Weak economy … strong dollar by voluntary repossession\par

voluntary repossession\par — Thu, 26 Mar 2009 10:45:19 +0000

The growing perception is that Japan is falling back into a dark hole of recession again.\par

Comment on Monopoly Money by mtnchk

mtnchk — Sat, 21 Mar 2009 14:04:22 +0000

And print the real money for the rest of us. We won’t tell AIG about our little secret……

Comment on Monopoly Money by mtnchk

mtnchk — Sat, 21 Mar 2009 14:02:41 +0000

I think they should give the monoploy currency they print to AIG, et al to pay all those bonuses!

Comment on Monopoly Money by Monopoly Money | Crash Survival Zone

Monopoly Money | Crash Survival Zone — Fri, 13 Mar 2009 03:23:17 +0000

[...] Monopoly Money | Crash Survival Zone [...]

Comment on The Crisis of Credit Visualized by rogergeary

rogergeary — Mon, 23 Feb 2009 15:16:17 +0000

Sorry, but this is plain wrong on a number of levels. For a start banks didn’t just buy T bills before 9/11. Securitization has been around for decades - since the early 80s at least - and that includes mortgage-backed securitization, by the way. It just got crazy in the aftermath of 9/11 as credit got cheaper. Next, let me ask you how many people have walked away from their houses because they’re underwater? Precious few (although that may change, and Obama’s plan clearly indicates that he thinks that number may rise - still there’s no clear indication that it will.) The CDO part of this is really irritating because it is inaccurate and misleading. The investment banker who manages the CDO has ALREADY sold all the risk at the point that the mortgage holders start to default. The people who are stuck and can’t sell are the ones who bought the mortgage-backed bonds when the CDO was first put together. The investment banker who arranged the CDO probably only holds equity at this point, and probably not much of that either. If he used leverage and he can’t pay it back, well, that’s the LENDER’s problem, not his - he already made his money.
Whatever, you say, the point is that the market for CDO paper is frozen. OK, but that doesn’t explain why the CREDIT MARKETS are frozen, in other words, why big banks won’t lend to each other - there’s a big leap here that is not explained. This is pretty criminal, given this entire presentation is supposed to be an explanation of the credit crisis. The reason, of course, is that the banks were big buyers of CDOs, many of which are now worthless . But no-one knows how much worthless crap the big banks have. The central part of the credit market is the overnight lending business, where big banks lend billions to each other overnight. But if bank X doesn’t know how much CDO exposure bank Y has, it won’t lend bank Y money, because it won’t be sure that bank Y will be solvent enough to pay it back. And if bank Y can’t borrow from bank X, it can’t lend to other banks and they can’ lend to you and me. THAT’s the credit crisis.
A word of advice for Jonathan Jarvis - read more of the WSJ, or listen to marketplace (some great videos on that site spelling this out). Or watch CNBC (David Faber has it nailed).

Comment on Mortgage Rates Fall to Record Lows by You Have the Power » Blog Archive » The New President is Starting To Bend To the Old Washington Rules …

Mon, 23 Feb 2009 07:19:14 +0000

[...] Mortgage Rates Fall to Record Lows | Crash Survival Zone [...]