Tuesday, February 27, 2007

Subprime Mortgage Index Tumbles an Eighth Day

now that the fallout is obvious "the blame game" will get started soon....? everybody reading a bubble blog could see this coming fast and furious. amazing that the "smart" (haha) money didn´t see this coming....... just watch aaron "mortgage lender-implode-o-meter" http://mortgageimplode.com/ or read some stories under the label.

wann wird der schwarze peter herumgereicht.......? jeder der die letzten monate ein bubble blog gelesen hat wußte das es so kommen würde. erstaunlich das das angebliche "smart" money vollkommen ahnungslos war..... lest einfach unter dem link oben oder under den label um mehr zu erfahren.

Feb. 27 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds jumped to a record for an eighth straight day, according to an index of credit-default swaps on 20 securities rated BBB- and created in the second half of 2006.

The ABX-HE-BBB- 07-1 index fell 6.3 percent today to 63, according to New York-based derivatives broker GFI Group Inc. The index has fallen by more than a third since trading started Jan. 18,

About 2 percent subprime mortgages made last year were more then 60 days late after five months, nearly twice the rate for ones made in 2005, and the worst rate in at least seven years,....

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