Links 7/31/08

Sad end for bear with jar on head BBC

Subprime lending not main trigger of real estate bubble PhysOrg

No Shorting. That’s the Rule Barry Ritholtz

Most Heavily Shorted ETFs Bespoke Investment Group

Fannie Mae, Freddie Mac Live to Die Another Day Caroline Baum, Bloomberg

Regrettable Comments by Bank CEOs Portfolio

Just how stabilizing? Brad Setser. This is an important post, and if I weren’t behind on a zillion fronts, I’d discuss it in a separate post. Be sure to read it.

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  1. Dave Raithel

    RE the PhysOrg article, which states: “Instead, the considerable 2003 pullback of government-sponsored financial service corporations Fannie Mae and Freddie Mac from the credit market and their replacement by aggressive, private mortgage securities issuers in late 2003 had a significant impact on home prices and was more responsible than subprime lending for the drastic price runup that peaked in early 2006.” I don’t speak financier well enough to follow the arcane details of accounting practices which got Fannie and Freddie in trouble, but from what I gather, they were trying to hide how much money they were actually making while the various CEO’s were filling their pockets… Is there irony in this, or is it just me? Nobody else get a sense of the medicine killing the patient – cannot even say “but the disease didn’t spread”….

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