The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (73567)	3/10/2007 6:05:14 PM
From: Dan3	Read Replies (1) of 306849

$6.5 Trillion with a "T" in mortgage securities? From the article you posted: The issuance of mortgage-related securities, which include those backed by home-equity loans, peaked in 2003 at more than $3 trillion, according to data from the Bond Market Association. Last year’s issuance, reflecting a slowdown in home price appreciation, was $1.93 trillion, a slight decline from 2005. The $4 Trillion in mortgage securities created in 2005/2006 are ~1/3 sub prime or Alt-A mortgage based. If this starts to unwind then something like $1.5 Trillion in wealth will disappear in the next year or so. Mish's deflation scenario is looking more likely. Puts a new perspective on what's at risk. The scum bond traders who perpetrated this fraud just gave themselves $24 Billion with a "B" bonuses for cheating bond buyers by selling this trash paper as though it were a safe investment. google.com

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