Tough times for bond insurers.

This is definitely not a good time to be in the bond insurance business. With large-scale insurers Ambac and MBIA — and with smaller players faring no better — one could well think that in the end the lending crisis has brought to light considerable flaws at the very basis of the American — and indeed global — financial sector. (all links above except the first lead to 6-month stock charts).

Continue reading “Tough times for bond insurers.”

Deutsche Bank: Merry Christmas renters! You’re now homeless!

Nothing says “Happy Holidays” more than being evicted from your apartment because your landlord got caught up in the subprime lending mess… at least that’s what Deutsche Bank clearly thinks, as they decide it’s absolutely necessary for a partially-blind pensioner to get the f… out of a building they’re trying to sell. Bonus: they “don’t see an upside” in explaining why that is so necessary, so they can’t be bothered.