by Tanta on 4/14/2007 07:05:00 AM
Saturday, April 14, 2007
Welcome to Saturday Calculated Risk Rock Blogging. You want intellectually serious content? I suggest skipping down to the next post. It's Saturday, and we all need a break. I owe you all an UberNerd post, but to be honest I've been a little tired in the last few days, and what attention span I possess has been divided between the unwind of the great mortgage bubble and flashbacks to the summer of 1972 on this whole "the dog ate my server" business of the White House emails.
Every time I read some new former cheerleader for the Great Housing Economy (with free debit card!) get all shocked--shocked, I tell you!--that those lenders have been offloading that wretched credit risk into those sexy bonds that approximately three market participants appear to understand, and--OMG!--said bonds seem to be having a bit of a "lower class" problem (the revenge of the UnterTranche?), I have a hard time not replying with the only thing that makes sense to a cheerleader:
Nah nah nah-nah nah nah. Nah-nah-nah nah-nah-nah nah nah.
So this week, you'll just have to write your own lyrics. Go nuts, folks.