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The $4.5 Billion Dollar Bank Run
Nov 07 201111:20 am EDT -
The Times' Rorshach Geithner Story
Apr 27 20099:26 am EDT -
Sinking Animal Spirits
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Counter-cyclical Urban Policy
Apr 26 200910:00 am EDT -
Be Your Own Counterfeiter
Apr 26 20099:36 am EDT -
Being Tim Geithner
Apr 25 200912:37 pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:41 am EDT -
What Good is the News?
Apr 25 20098:32 am EDT -
Stressful Enough
Apr 24 20092:29 pm EDT -
Not Regretting the Pound
Apr 24 20091:09 pm EDT
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The Credit Suisse Writedown: Less Than Meets the Eye
Credit Suisse has $34 billion in CMBS, RMBS and CDO exposures. Or, hang on a minute, cut that by $2.85 billion: apparently there were some "mismarkings" going on.
There seems to be a lot of people who are very shocked by this, but it's worth bearing in mind that all these securities are very illiquid, and that in a volatile market with wide bid-ask spreads, reasonable individuals probably can differ by more than 8.5% on the valuation of asset-backed bonds.
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