Archive - Jul 4, 2009

Anytime someone tells you that a mortgage is less risky than “subprime” you know you have a problem. The Alt-A mortgage is largely absent from the current mainstream housing debate but is really the next wave that will further depress housing prices. Data produced from a June 2009 OTS and OCC report highlighting market conditions for 64 percent of U.S. mortgages finds that some 3.5 million loans are categorized as Alt-A. California issuing IOUs is home to many of the Alt-A mortgages.

After days of configuring, we've finally managed to get subscriptions working properly.  If you checked your email box you already know this because you likely received 900 emails at once as all the notifications queued up over the last week were batch-sent in one massive climax of SMTP server intercourse.

Sorry about the mess.

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ETst

Hmmmmmmmmm

This is only a test.

• More on StevePerkinsGate: PVM taking a page from the oldest playbook in the world (FT)
• India joins China, Russia in questioning USD dominance (Bloomberg)
• Palin to resign as Alaska governor, will not seek reelection (WSJ) [not even worth discussing the Republican due diligence process]
• Ignoring prophetic predictors (Nader)
• Staffer at SEC had warned of Madoff (WaPo, h/t dartmont)