Here is part of an article "The Subprime Mortgage Crisis and its Wake," dated November 15, 2007, that was emailed to me by a reader. It discusses the present housing crisis and appears to have been put out by Deutsche Bank. I'm not sure if this was meant for public consumption. It seems legit.The bank has been accused of being one of the biggest homeowners (by way of foreclosure) in the U. S.
Page 6 displays their view of the future housing problem.
Double click for larger picture. Source: Deutsche Bank.
Page 28 lists the CDO and SIV exposure for banks in US and Europe. Where is Asia????
Double click for larger picture. Source: Deutsche Bank.
It does seem to confirm my contention that the banks know pretty well what's happening three months from now,
right now.
4 comments:
Jim, thanks for this site.
I wish you would consider writing a book of how you were raised, and what your Father and Grandfather taught you as you were growing up.
You could put an ad at the top of your website.
Just a thought.
Hi Anon 4:27
Thank you for your suggestion. I think I will pass on it, it takes forever to write a book.
Take care
Just today I received a letter from Countrywide (are they still in business?) offering me a 10 year interest only loan. I thought 5 yr IO was pretty far out there, but 10 years?
Also, if the securitiazation markets are dead, who is backing these things?
Hi Anon 8:39
You must have an excellent credit rating and live in some part of the country not in a bubble. If you can, scan the doc and email it to me, and I'll see about putting it on the blog. It could be good for a laugh or two
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