Harp-ing on about mortgages and market share
When the godfather of mortgage securitisation speaks, you listen.This week Lewis Ranieri devoted a not insignificant amount of time from his Milken conference panelist discussion...
Cooking (CDOs) with SocGen
Take one seasoned collateralised debt obligationCrack it open.Sell the underlying constituents. Garnish with yield.So “Cooking with SocGen” is probably not coming...
Plus ça (accounting) change at Goldman
What’s this? Something you haven’t seen before in Goldman Sachs’ results?Net revenues in Investing & Lending were $2.14 billion for 2011. Results for 2011...
MF Global – 2008 parallels like you wouldn’t believe
For today’s edition of history rhyming, have a look at this (seminal) piece of research from Citigroup’s Matt King.On September 5 2008 — just weeks before Lehman...
Origins of the EFSF monoline plan
Or, Allianz talking out of its… ah, never mind.The German insurer has recently taken to touting a proposal for the EFSF to insure sovereign debt.Interestingly, the nub...
Hooray for, erm, Greek ELA?
Things you might not have noticed in recent Greek bank results:Eurobank EFG ability to generate recurring profits is reflected in pre provision income, which amounted to €749m...
Eurozone wars, or vigilante vs vigilante
Bond vigilantes — per James Carville — are intimidating things.And no more so than in Europe. Rising bond yields in the region have managed to force austerity onto places like Greece,...
No tail risk, please. I’m a bank
Spotted by the sharp-eyed creditplumber in a new paper from the Bank of England’s Paul Fisher:And the footnote:How many indeed.
Un petit French funding problème
Rumours of funding problems at French banks have been rife this summer.Without even getting into specific financial firms, you can see a potential issues.French banks do have...
Further reading
Elsewhere on Thursday,- Why Buffett’s BofA deal is bad news.- George Magnus says, give Karl Marx a chance.- What is debt? An anthropological point of view.- And facts...
