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@sarahcuda you're so sweet ;* |
@mattrixDOTinfo CRE is funny. it is generally more conservative and better reserved, so bulls have a point. but weakness elsewhere is key. |
@kelly2277 naw, this is all part of the new banking normal. no-one will bat an eye. |
@IRON100 agreed entirely. |
it was an FDIC two-fer tonight, with two failed banks taken over: Sanderson State Bank in Texas, and Havens Trust Bank in Georgia. |
i am in awe at how many people think commercial real estate is different. in essence, CRE investors are smarter, is the argument. sure. |
@GregorMacdonald interesting idea. some combination of worst congestion, total population, etc.? |
@GregorMacdonald you had me at "unimpressed by economists" |
@jamesoreilly whoops. Sent you note on CDS tearups. Error. |
@jamesoreilly noted recently explosion in num of CDS tear-ups. Just had someone who should know say Fed is privately beating banks to do it. |
There is something meteorologically existential and sad about a cut-off low. |
@jamesoreilly thanks for that. Will seek his writing out. |
@s_m_i thanks. Glad I could help. |
@AlexBerger speaks volumes about a shared financial geek sensibility. Be afraid. |
@mybiziz precisely. It will be huge. |
@kevinmarks yes, good point. A fave book. |
Even in rarified world of serial sovereign debt defaulters, Ecuador is a true outlier. It now defaults out of spite. |
@cheapsuits crazy thing is this is a wilful political default. Ecuador debt load small. Sixth default in 20 yrs |
More Madoff Near-Misses: Barron's, MAR/Hedge, etc.: A Barron's story from 2001 is being forwarded everywhere tod.. http://tinyurl.com/6rlnr7 |
Friday Quiz Question: Card Tricks and Market Risk: The following is from Paul Wilmott: You are in the audience a.. http://tinyurl.com/6y4cea |
