tag:blogger.com,1999:blog-6616959642391988608.post2192137302938791008..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Commercial mortgage-backed securities are doing very wellScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6616959642391988608.post-39048289997293178812010-09-23T09:06:13.216-07:002010-09-23T09:06:13.216-07:00I noticed this too. Excellent commentary by Scott ...I noticed this too. Excellent commentary by Scott Grannis. Maybe we are seeing the end of the tunnel.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34058046574226208732010-09-23T08:25:02.648-07:002010-09-23T08:25:02.648-07:00Gorton's analysis of what happened to the shad...Gorton's analysis of what happened to the shadow banking system is very helpful here. AAA-rated mortgage backed securities were used as collateral for short term investments. This worked fine as long as they had a stable value that could easily be supported, that is, as long as they were liquid. As soon as they became questionable, they could not serve as collateral and had to be dumped. TheyCharleshttps://www.blogger.com/profile/00607057013050715435noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-85129373504418426392010-09-23T07:47:07.020-07:002010-09-23T07:47:07.020-07:00I think everyone gets your point. However, when t...I think everyone gets your point. However, when the Sh&t hit the fan in 2008, no one could trust any securitization pool or any asset valuation provided by banks. <br /><br />Of course at times some babies were thrown out with the bathwater, but it remained that investors had zero confidence on rating agencies, investment banks, and third party asset selectors.<br /><br />So this pool was Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-63805553261694929282010-09-22T20:43:29.849-07:002010-09-22T20:43:29.849-07:00does musical chairs mean the chairs are more valua...does musical chairs mean the chairs are more valuable intrinsicly than before the manufactured shortage?septizoniomhttps://www.blogger.com/profile/14253705209662419429noreply@blogger.com