Noice! He wasn't crazy. That was two people out there on the wing, boning like crazy.
To sorta borrow from Mr. Adams. :-) Thanks Judah, that was a good read. -- No great genius has ever existed without some touch of madness. Aristotle On Tue, Nov 11, 2008 at 11:17 PM, Judah McAuley wrote: > "We always asked the same question," says Eisman. "Where are the > rating agencies in all of this? And I'd always get the same reaction. > It was a smirk." He called Standard & Poor's and asked what would > happen to default rates if real estate prices fell. The man at S&P > couldn't say; its model for home prices had no ability to accept a > negative number. > > > http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom?tid=true > > The best narrative and explanation of the sub-prime mortgage crisis > and CDO swap debacle I've seen with particular attention to those that > saw it coming and profited from it. Long but fascinating read, highly > recommended. > > Judah > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:279964 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
