Rolfe Winkler
Option ARMageddon
Lunchtime Links 9-22
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AIG may never pay backtaxpayer billions, GAO (WaPo) $120.4 billion to be precise. Why make AIG pay all that money back? Why can’t we go after banks like Goldman that were the ultimate recipients of much of the money?
MUST READ–USDA Home Loans, subprime redux? (BusinessWeek, ht Felix) You can get 100% financing from the Dept of Agriculture. They’ve extended $10.5 billion worth of loans this year. Here I thought FHA was offering the easiest terms on government home loans!
Housing is getting less affordable (ML-Implode)
Lebanon’s “Madoff” embarrasses Hezbollah (Reuters)
A D.C. whodunit: Who leaked and why? (Politico) Bob Woodward scores another scoop.
Vikings were warned to avoid Scotland (Telegraph)
Recession-style iPhone case (core77, ht NG)
For LPHI shareholders, it’s been one heck of a ride, but now it’s over (Citron) The Stock Lemon guys have another short idea for us. I wonder if the borrow is actually available for this one…
Cool time-lapse video…
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Rolfe, thanks for the article on LPHI. Until recently, the last I heard of this was when Viatical settlements became more popular when HIV was first making the news. Like other articles you’ve written regarding insurable interest in the CDS market, exchange trading, etc; I’m getting concerned that there is nothing that some people won’t sell.
GS et al were not the ultimate recipients of the AIG money. They were simply the brokers to the big money clients who were the ultimate recipients. Follow the money and you will find those with the greatest interest in bailouts. They will likely be owners of CMBS CDS as well and staring at another massive lottery win in 2010.