Subprime crisis: warning signs glaring in 1999!

July 23, 2016

Representatives from the Office of Thrift Supervision, the FDIC, and banking associations,  symbolically slashing red tape in 2003

While doing some file management, I stumbled on an investment newsletter published in 2001: “A house without equity is rental with debt” by Wall Street analyst Josh Rosner, whose analysis of industry and macro factors turned out to be prescient.

Here’s an overview, and, after that, I’ll briefly contrast it with a 2005 article that wasn’t so prescient, yet was published by a prestigious economic paper… Read the rest of this entry »