Subprime Credit Rot

Rather than respond to the various cheerleaders and pollyannas (Ben Stein, Brian Wesbury, David Malpass, et. al.) who have been telling us how great things are even as recently as this week, I prefer to respond via some humor, culled from around the web.

First up: Long or Short Capital:

The Jitters
by Johnny Debacle

Guy #1: Subprime?
Guy #2:
Guy #1: Subprime.
Guy #2:
Guy #1: Exposure?
Subprime Jitters.
Guy #1:
Guy #2: No, CONTAGION.
But the expected loss on all residential subprime loans is de
to the greater economy.
Guy #2: Liquidity. And
Guy #1: Oh. Fuck.
Guy #2:
Commercial paper.
Guy #1: The end.

And I love  their tag line: "Let us think for you, since we’re better at it."


And, the always amusing Ben Sargent:


via Yahoo!

Category: Credit, Derivatives, Hedge Funds, Psychology

Off to Bloomberg TV

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