Joint Economic Committee report on subprime lending. Notes Calculated
Risk: "In 2006, 29% of all mortgage loans were originated through mortgage
brokers, but 63% of all subprime mortgages were originated through brokers."
The Brazilian stock exchange, at the end of its first
day as a listed company in its own right, is worth more than $13 billion.
Man Walking: The Epicurean Dealmaker on Stan O’Neal.
Being a CEO at an investment bank is not unlike crowd surfing at a mosh pit:
it’s a pretty cool way to move around quickly, you are supported entirely
by other peoples’ efforts, and everyone tries to get a piece of you. Unfortunately,
when the crowd loses interest in supporting you, you tend to fall fast, hard,
and painfully.
Tale of Whoa: On the importance of choosing your hold music carefully.