Christopher Whalen, managing director of Institutional Risk Analytics, talks with Bloomberg’s Mark Crumpton about the impact of U.S. mortgage foreclosures on banks and the housing market and the outlook for the economy.
Whalen is author of the book “Inflated: How Money and Debt Built the American Dream.” (Source: Bloomberg)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Money is power, & you ought to be reasonably ambitious to have it." —Russell H. Conwell, Temple Univ, 1877
"It's the end of the world as we know it and I feel fine" say the French as consumer confidence in May rose to the highest since Nov '10 as they welcome and get excited about new Pres Hollande. Also, the French 10 yr bond yield touched the lowest on record this morning. June consumer confidence in Germany held at 5.7, just .2 pts off the highest since Mar '11. To the euro bond debate which is now taking on greater rhetoric with those with high bond yields wanting them and those with low ones saying no way, ECB member...
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October 22nd, 2010 at 10:01 am
Listening to Whalen is always a treat. A knowledgeable guy with the rare ability to explain complex issues in a straightforward manner. I always walk away feeling smarter.
October 23rd, 2010 at 1:26 am
Chris Whalen, along with Barry, has been ahead of the curve on this foreclosure story. It’s still very early in the game. Whalen describes this problem as a cancer. Well all they’ve done at this point is find locate the tumor. They have yet to biopsy it or treat it. No one yet knows how deadly this cancer will be. And yet the stock market continues to climb the wall of worry. The stock market euphoria is the equivalent of arranging an around the world vacation after just being diagnosed with cancer. Investors may not return home safe and sound.
October 23rd, 2010 at 1:15 pm
Since mortgages are time based, has anyone seen a graph that shows how the scale of this problem changes over time?
Can a time base be associated to a specific MBS? i.e can an MBS be all ten year notes constructed in 2005?