Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: nextrade! who wrote (6986)	11/20/2002 8:51:17 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

UK bank chief warns on house prices news.bbc.co.uk Mervyn King, the Bank's deputy governor, said late on Tuesday that sustained house price growth at a time of global economic weakness could lead to a "large negative demand shock" later on. "Beneath the surface of stability in the UK economy lies a remarkable imbalance between a buoyant consumer and housing sector on the one hand, and weak external demand on the other," Mr King said in a speech at the London School of Economics. "Even the optimistic Mr Micawber would realise that this cannot continue indefinitely," Mr King added, referring to a character in the Charles Dickens novel David Copperfield.

To: nextrade! who wrote (6986)	11/21/2002 7:18:40 AM
From: nextrade!	Read Replies (1) \| Respond to of 306849

"They're supposed to be bullet proof," Investors in asset-backed securities are still questioning how bonds that had carried a top credit rating could now be worth just a fraction of their face value. Moody's Investors Service rated National Century's bonds AAA until Oct. 25. Credit Suisse First Boston underwrote the bonds, and J. P. Morgan Chase had two bankers on the National Century board, including Hal Pote, head of the audit committee. Deloitte & Touche audited the books. Both Bank One and J. P. Morgan were bond trustees. Most of these securities are backed by mortgages and other assets with relatively predictable cash flows. "They're supposed to be bullet proof," one specialist said nytimes.com