Jim Lockhart Has No Idea Why Fannie Went Bankrupt, Kanjorski’s "Bank Run" Sequel

Alan Grayson, the not-so-caped crusader who has a penchant for irreverently exposing weapons grade stupidity especially when it is manifested by such systemic cogs as FHFA’s Jim Lockhart, who is “supposed” to know what it was that caused the implosion of the GSEs he currently presides over, continues his rampage, and this time takes on [...]

Roubini On The Failure To Predict Financial Crises

A very insightful videos from the Perimeter Institute in which Nouriel lectures on his interpretation of the lack of vision of bubble participants, as well as the implicit bubble-creation facilitation by regulators and economists. Definitely worth watching. Read more….

No Recovery For Mortgages

Just as the futures buying hand starts gobbling up them spoos on the horrible housing and mortgage news, mortgages fail to stage any recovery. But please, keep equities artificially high – money out of treasuries into equities, on the road to 7% mortgages, is exactly what the doctor ordered. Read more….

Optimism And Fact

Just to drive in the point of what is really happening on the green shoots front, I present a housing starts and housing permits chart. Yes, those second derivative inflection points – they turned out to be smoke and mirrors. Just as will all other second derivatives, as the economy continues collapsing, albeit a little [...]

The Housing Surplus Question

The market did some strange things today. Those who follow it (and maybe trade it), will tell you it went up. The catalyst: communists lose some Indian political leverage, which will usher American style… socialism… in India, and homebuilders apparently are building homes again. The first item is open to discussion (mostly by political pundits), [...]