Calling the Housing Market Bottom, ContinuedLegend has it that Joseph Kennedy (father of President John F., and the first SEC Commissioner) bailed out of the stock market just before the 1929 crash because of something his shoeshine told him. Specifically, the shoeshine had discovered stocks, and was blithely sharing his latest “can’t-miss” picks with Kennedy....Read More
Securitization Pipeline Still Clogged Buried in Thursday’s Wall Street Journal — the significant news always is — was a stunning tidbit about the state of the securitization market (insecuritization market?). According to the Journal, securitizations of home loans totaled $19 billion in March, compared with $218.6 billion in March 2007 (“The Bank Loan Haircut,” WSJ;...Read More
