Monday, April 13, 2009

More Housing Pain

This is one of the few guys CNBC has had on that gets it.














2 key issues he discusses that I am in complete agreement with:

1) The fact that banks are trying to unload ALL assets is an indication that, other than for superficial purposes, there is no way that they intend on ramping up lending in a period of dramatic economic decline. The TARP was never going to accomplish this, and was doomed from the start.

2) The pace of decline is about to pick up velocity further up the housing price range. This should have ever more dramatic effects on the mortgage securities market.

1 comment:

  1. Talk about playing both sides of the fence. Nice move - wish I would have done the same.

    ReplyDelete