I'm Not Going to Say "I Told You So"...
even though I did. See here:
"Also, keep in mind that there may be many more hidden surprises out there, especially if the continued cooling of the housing market leads to greater defaults/delinquencies in the mortgage market. [Specifically I am referring to the possibility of a de-rating of the mortgage backed securities which could conceivably trigger all sorts of hell in the financial markets.]"
So for all those who said that it wasn't possible to see the coming financial crisis, it was.
A good summary from a guy at Goldman Sachs.
"Also, keep in mind that there may be many more hidden surprises out there, especially if the continued cooling of the housing market leads to greater defaults/delinquencies in the mortgage market. [Specifically I am referring to the possibility of a de-rating of the mortgage backed securities which could conceivably trigger all sorts of hell in the financial markets.]"
So for all those who said that it wasn't possible to see the coming financial crisis, it was.
A good summary from a guy at Goldman Sachs.
posted by rawls at 2:42 PM
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