Did anyone else see a cockroach when the power came back on ?

[Hugh G Recshun]

Or is it just another faux crisis conjured up by the magic mushroom pizza that I ingested last night?

After celebrating one of it's busiest months ever while offering services in 8 states, Sacramento-based Capitol Commerce Mortgage Co. abruptly shuttered its doors yesterday due to inadequately hedging their position in bonds.

http://www.marinij.com/Stories/0,1413,234~24407~1574183,00.html

Hey, it's only 8 states and it's not like the economy relies on mortgages or anything, right? Surely no other mortgage company (or hedge fund) would have taken this position, right?

But just in case it's noticed, what shall be the trade du jour come Monday? Short home builders, mortgage companies? Or is it too late for that trade anyway?

Any other ideas? (aside from staying away from the magic mushroom pizza) Related to trading of course!

 

[Pabst]

Quote from Hugh G Recshun:

Or is it just another faux crisis conjured up by the magic mushroom pizza that I ingested last night?

After celebrating one of it's busiest months ever while offering services in 8 states, Sacramento-based Capitol Commerce Mortgage Co. abruptly shuttered its doors yesterday due to inadequately hedging their position in bonds.

http://www.marinij.com/Stories/0,1413,234~24407~1574183,00.html

Hey, it's only 8 states and it's not like the economy relies on mortgages or anything, right? Surely no other mortgage company (or hedge fund) would have taken this position, right?

But just in case it's noticed, what shall be the trade du jour come Monday? Short home builders, mortgage companies? Or is it too late for that trade anyway?

Any other ideas? (aside from staying away from the magic mushroom pizza) Related to trading of course!

I'm sure one of many......

 

[jem]

My brother in law and a guy on my softball team had the same thing happen to them in the last few weeks but due to a smaller outfit playing the interest rete game.