The Mortgage Crisis Explained
A Naybob of executive note forwarded this primer on the subprime crisis to me...
It is a worthy must see... and has been making the rounds on the internet for a couple of weeks.
As I have been saying all along, grab some popcorn and take a seat, cuz this horror show is worth the price of admission.
The powerpoint slideshow is one of the better explanations I've seen for a laymans point of view on what has occured, and sadly all too true.
Whats not covered is all the collateral (no pun intended) damage in the ABCP asset backed commercial paper,
Muni Bond Markets (which are currently imploding), LBO leveraged buyout and stock buy back,
and the GSE's (FNMA, FHLMC, FHA) roll over in the next three years from the jumbo exposure...
brought on by the loan limit increases in the "economic stimulus bill".
Which we have exposed in our pages as nothing but White Collar Welfare enabling gamblers, fools, investors, banks and Wall Street.
All the economic "fall out" is going to DWARF the subprime damage.
Even people who did not sell or profit are going to be screaming at their increasing tax bill, the crooks on Wall Street and their prostitutes in the Senate.
Most will wish they had paid more attention, never cashed those $200 checks and contested the legality of the bailouts.
This copy of The Mortgage Crisis Explained is provided courtesy of Barry Ritholtz at The Big Picture.
Hit the link above, then I recommend hitting F11 for full screen and just left click your mouse to advance each slide. Enjoy, I did.
It is a worthy must see... and has been making the rounds on the internet for a couple of weeks.
As I have been saying all along, grab some popcorn and take a seat, cuz this horror show is worth the price of admission.
The powerpoint slideshow is one of the better explanations I've seen for a laymans point of view on what has occured, and sadly all too true.
Whats not covered is all the collateral (no pun intended) damage in the ABCP asset backed commercial paper,
Muni Bond Markets (which are currently imploding), LBO leveraged buyout and stock buy back,
and the GSE's (FNMA, FHLMC, FHA) roll over in the next three years from the jumbo exposure...
brought on by the loan limit increases in the "economic stimulus bill".
Which we have exposed in our pages as nothing but White Collar Welfare enabling gamblers, fools, investors, banks and Wall Street.
All the economic "fall out" is going to DWARF the subprime damage.
Even people who did not sell or profit are going to be screaming at their increasing tax bill, the crooks on Wall Street and their prostitutes in the Senate.
Most will wish they had paid more attention, never cashed those $200 checks and contested the legality of the bailouts.
This copy of The Mortgage Crisis Explained is provided courtesy of Barry Ritholtz at The Big Picture.
Hit the link above, then I recommend hitting F11 for full screen and just left click your mouse to advance each slide. Enjoy, I did.
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