From the monthly archives:

July 2008

Alesco & The Land of the Living Dead

July 16, 2008

REITWrecks: July 16, 2008 Where to start? First, a mea culpa: I wish I had written about this more explicitly a lot sooner. Alesco was first brought to my attention during the Accredited Home Lender fiasco (then public and trading under the symbol “LEND”). LEND had been crippled by the credit crisis, and it had [...]

More on this topic (What's this?)
Alesco Agony Reaches a Crisis Point (Mortgage REIT Journal, 7/15/08)
IndyMac Failure Priced in at Alesco (Prudent Speculations, 7/14/08)
Alesco Declares Dividend, Doubt (Mortgage REIT Journal, 6/10/08)
Read more on Alesco Financial at Wikinvest
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SEC Issues Emergency Order; Prohibits Naked Shorts on Banks/Brokers

July 15, 2008

Hot town, Summer in the city! And it just got a little hotter. In an April 5th post, regarding the downfall of Bear Stearns, I wrote that “There is also conspiratorial talk at the highest levels of these [investment banks] regarding the hedge funds that brought down Bear Stearns. They are determined not to let [...]

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Anthracite Shelf Offering: Pick Your Poison

July 14, 2008

Way back on June 3rd, when thoughts of Fannie Mae crashing to the ground like Icarus on a hot July weekend were not so prevalent, Anthracite filed a shelf offering with the SEC, stating that it may periodically sell up to $500 million in common and preferred stock, debt securities and warrants, with the exact [...]

More on this topic (What's this?)
Anthracite: The Silent Bailout? (Mortgage REIT Journal, 4/7/08)
($AHR) Anthracite Capital Hears from the NYSE on Listing Standards (Stock Blog Hub, 9/18/09)
Read more on Anthracite Capital at Wikinvest
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U.S. Treasury Planning to Rescue Fannie/Freddie on Sunday

July 13, 2008

According to published reports, Treasury Secretary Hank Paulson is working on plans to inject up to $15 billion of capital into Fannie Mae and Freddie Mac to stem the crisis at America’s biggest mortgage firms. The two companies lost almost half their market value last week as rumours of a government bail-out swept the stock [...]

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Blackrock: Back up the Truck on CMBS

July 1, 2008

Last week, traders reported volatility over CMBS and CMBX as headlines of bank downgrades and quoted predictions of summer oil at $170 a barrel influenced investor confidence. CMBX spreads widened and dollar prices dropped across all tranches of all series during the past week, according to JPMorgan research. Spread widening has continued this week amid [...]

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