Argentine dog saves abandoned baby BBC
Meet Yoda the cat with FOUR ears Mail Online
Japanese scientists seek quake secrets in Parthenon design PhysOrg
Beijing’s Bad Faith Olympics New York Times
Medium Lobster: Your guide to America’s next vice president Guardian. Funny
The Ebay Fannie/Freddie Insider Selling Sign Paul Kedrosky
Corporate Competitiveness: Are Taxes Really the Problem? ataxingmatter
Prime Jumbos Showing Strain: S&P Housing Wire
Some depressing thoughts John Hempton. Be sure to read the recent post he links to, on the unexpected and as of now, forecast-defying in prime mortgages. Important stuff.
On the Unfair Treatment of Certain Common Equity Holders Roger Ehrenberg. A great post. Key section:
Investing in common stocks, particularly those of financial institutions, is akin to holding the “z-bond” – the residual – of a pool of mortgage-backed securities. It is a massively leveraged interest, one that rides extremely high when things go well and falls precipitously when things go poorly….I didn’t hear anybody complaining or read any stories about disgruntled investors when shares of BSC (Bear Stearns), FNM (Fannie Mae) and FRE (Freddie Mac) were top-ticking in the wake of low interest rates, calm markets and rising real estate prices. But when conditions turned, liquidity dried up and counterparties got scared, managements and investors started crying foul.
Antidote du jour:
Also, happy birthday to me!
16 comments
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So Yves,
Best birthday wishes, and all good prospects to your enterprises diverse.
Happy B’day Yves :) love reading your column.
Best,
od
Happy Birthday Yves,
Hope you have a fantastic day.
Love your work. Been a daily reader via rss for a good while now – you’re always informative and interesting.
–Q
Yes, happy birthday! had mine on 21st -last of leo, that’ll make you virgo. Makes me understand a little the excellent and thorough job you’re doing with this blog. Thank you!
Happy Birthday Yves. I am a regular reader of your blogs. Thanks for your great insights
Happy Birthday
Thanks for yet another great picture! and for everything you make available here!
Happy Birthday, Yves!
Happy Birthday – I hope you have a fantastic weekend!
Very much appreciate your thoughts for the rest of us – ‘the great unwashed’ :-)
Oh Birthday?
Wish a very happy one! Thanks for your great work all this year.
Have a great birthday! Thank you for your excellent and informative posts!
Ted
Happy Birthday Yves!
Friends are many. Helpers are few.
You are a helper.
Happy Birthday, yves!
Many happy returns!
Yves,
No one told me, so Happy Birthday. I assume the bunny in the bag is you, but I’m not sure what that means, but I think it has something to do with getting everything you want….
Happy Birthday Yves.
Wished my birthday horoscope was as impressive:
http://www.cafeastrology.com/birthday/august2308.html
Is Yves on a diet? I’m noticing animals as edible artifacts as an emerging theme.
Any way..
Have a great Birthday. I appreciate the material you put into this site. May your blessings be many this year.