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« Wall Street Truthiness: A New Series | Main | Bloomberg Economics Podcasts: James D. Hamilton Interview »

December 03, 2008

Comments

RB

Here's the chart, explained with typical clarity by Tanta (I'll miss her!):
http://calculatedrisk.blogspot.com/2008/08/reset-vs-recast-or-why-charts-dont.html

RB

Jeff,
The more important story, I believe, is the ARM recast, not the ARM resets because of the lower rates currently as Paul Kedrosky's post of a reader's comments described.
http://paul.kedrosky.com/archives/2008/11/21/the_option_arm.html

oldprof

RB - -This is interesting. About a year ago many sources were saying that this year would be the tough one for ARM resets. I have not seen the updates showing that we were past the peak.

Addressing this question is indeed a priority.

Thanks for your comment.

Jeff

RB

On rate resets, I believe the more important story for 2009 may be the ARM recasts -- therefore a principal modification plan would be more bullish. Sheila Bair seems sceptical of this plan:

http://www.marketwatch.com/news/story/fdictreasury-idea-wont-help-people/story.aspx?guid={2C6F1908-93CD-488C-8D25-8CF859AC09AC}&siteid=rss

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