Subprime, the Economy and what it really means "a must read"

thanks for the article..

I like that he called the purchasers of subprime CDOs 'pregnant ghetto teenagers' :D

I agree.. No bail out!
 
The sellers of the CDO's are not entirely out of the picture from what I hear, correct me if I'm wrong. They sell the portfolio but they keep the risk from defaults. Nobody mentions this.
 
Great article, very well written. Thanks for the link!

Just after is was published, another major even unfolded: the carry trade (AUD/JPY) crashed. I would love to see his take on that, more on the global risk premium, and also analysis on the USD currency's recent behavior.
 
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