From the category archives:

LEH

Terminated! The Price of Prudence

September 16, 2008

The alchemy of modern finance is coming back to haunt what were thought to be pretty mundane deals. As every follower of Mortgage REITs knows by now, borrowing short and lending long can be a risky proposition. Those REITs that have any shot at surviving the market carnage were those that matched the average life [...]

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The Markit Group Says "Bienvenido!"

August 4, 2008

“When Citi is cheaper than Colombia, which is on the verge of a war, it wakes you up,” Andrew Phillips, managing director and co-head of U.S. fixed income at BlackRock (BLK), in the March 2008 edition of Pensions & Investments, referring to the historically wide spreads on Citi’s (C) corporate debt.
Or to put it another [...]

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