Quotable
"One of the lessons that investors seem to have to learn over and over again, and will again in the future, is that not only can you not turn a toad into a prince by kissing it, but you cannot turn a toad into a prince by repackaging it. But very imaginative people in the securities market try to do that. If you have bad mortgages they do not come better by repackaging them. To some extent the chickens are coming home to roost for the mortgage originators and securitisers."
Warren Buffett, Financial Times, October 26, 2007
Top News
More News
Fannie, Freddie Won’t Repay All Aid, Lockhart Says
- Bloomberg
- 07/30/2009 10:25 AM
U.S. Initial Jobless Claims Rise by 25,000 to 584,000
- Bloomberg
- 07/30/2009 07:59 AM
U.S. States Face Ongoing Deficits, Rockefeller Institute Says
- Bloomberg
- 07/30/2009 04:57 AM
Market Movers
Archive
Treasuries Decline on Concern Demand to Wane at 7-Year Auction
- Bloomberg
- 07/30/2009 11:58 AM
Gold Rises as Dollar’s Drop, Equity Rally Boost Commodities
- Bloomberg
- 07/30/2009 11:59 AM
Oil, Gasoline Surge as Corporate Earnings Boost Confidence
- Bloomberg
- 07/30/2009 11:59 AM
U.S. Stocks Rally, S&P 500 Nears Nine-Month High, on Earnings
- Bloomberg
- 07/30/2009 11:58 AM
Commentary
Credit Bubble Bulletin
by Doug Noland | Jul 24
Increasingly speculative markets were overjoyed to hear that the Fed has no plans to stop spiking the punch.
Read moreThe Bear's Lair
by Martin Hutchinson | Jul 27
China's recent announcement that it would use its $2 trillion of foreign reserves to boost its companies overseas acquisitions tells us that its economic beliefs are neither those of Adam Smith, nor of Karl Marx, but of the 17th Century mercantilist Thomas Mun.
Read moreFeatured Commentary
by Satyajit Das | Jul 6
Ponzi Prosperity – Built-to-Fail Economic Models
Governments have limited resources to help with the current economic crisis; unfortunately, that’s not stopping them from trying. Their behavior — and the global financial collapse — calls into question social and political models based on growth fueled by high finance.
Read moreGuest Commentary
by Stewart Dougherty | Jul 16
Six Syllables to a Savage Truth
On December 9, 2008, $65 billion of investor money was at peace.
Read more
Posts
