A tsunami of hope or terror? How synthetic CDOs might end up saving the banking system.
FHA-Backed Loans: The New Subprime: Those subprime lenders never went away, and the FHA is outmatched.
The Brad DeLong question – and how to design a bailout that works: "It was pretty easy to stop believing in Citigroup because nobody (at least nobody normal) can understand their accounts. I can not understand them and I am a pretty sophisticated bank analyst. I know people I think are better than me – and they can’t understand Citigroup either. So Citigroup was always a “trust us” thing and now we do not trust."
Big Bank Watcher: JP Morgan is worth more than Bank of New York, Citi, Goldman Sachs, and Morgan Stanley — combined.