Thursday, April 03, 2014

ITYS #432,014

Yes, I did tell you so. Be sure to note the date.

Here We Go Again
I mean really, how many times do we have to hear it before we’re sick of it ? This time it’s the sub-prime mortgages. Last time it was the deregulation of electricity (Enron) and telecommunications (World Com.) Before that it was the deregulation of the Savings and Loans (Charles Keating and Neil Bush.)
In case you missed it, Charles Keating died this week.  Hindsight is 20/20. And the further back you go, the sharper it gets.  It's hard to believe things are so fuzzy as they are happening...when they look so clear after a decade passes.  From MarketPlace:

Keating's legacy, from John McCain to a camp classic


 "You have to remember that the S&L crisis actually spawned two of the financial industry's most lucrative product streams," he says. "One was the securitization of mortgages into mortgage-backed securities. Hello! Those things that blew up in 2008..." 

Such is life.

Don Brown
April 3, 2014

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