Home » Blogs » Aleksandrs Rozens

Taking Stock of Bonds

By Aleksandrs Rozens

What Would Carlin Say About Subprime?

June 23, 2008 - The passing of the legendary comedian has us wondering what he thought of the mortgage mess.

Note To BBA: Fix Libor Now -- It Needs Fixing

April 29, 2008 - In these uncertain times, everyone -- from lenders to investors to borrowers -- needs to know that the tools they use are accurate.

An Empty Box

March 25, 2008 - Does exodus from Countrywide offer any hints as to what's in store at Bear?

The Same Old Song

March 14, 2008 - Wall Street's been around this block before.

Black Scholes, or Black Holes?

March 5, 2008 - Famed options-pricing model comes under fire. Is it to blame, or are we?

The Definition Of Farce

February 13, 2008 - Decades from now they will be asking of this generation in Washington D.C.: What were they thinking? Banks were forced to go with a beggar's cup overseas, the social fabric is being torn by a serious housing crisis and the big issue is whether an athlete spiked his vein with performance enhancing dope.

The Financial Ecosystem

February 11, 2008 - While New Yorkers like to think they are special and that the world begins and ends with the Hudson and Harlem Rivers, the drop in tax revenue because of problems on Wall Street probably are not unique to the city.

Hurting Consumer

February 4, 2008 - Charge-off and delinquency rates are 'clearly on the rise' and in coming months will continue their upward climb,' Moody's says.

Mean Business

January 28, 2008 - Is the Fed simply being cautious, or is there a more deep-rooted issue that has been spotted?

Exhibit A

January 15, 2008 - A reality check for the data crunchers.

The Creepshow

January 11, 2008 - The credit mess that began with problems in subprime mortgage debt has in five months enveloped Wall Street, sucking the life out of many disparate business lines. There are signs that the commercial mortgage backed securities market is the next victim.

Truth Serum

January 10, 2008 - In recent years Wall Street - and some of the investors that bought its securities - engaged in some interesting language games and plenty of wishful thinking.

The Hits Keep Coming

January 8, 2008 - Moody's on Tuesday downgraded transactions issued by two Wall Street dealer firms -- Bear Stearns and Deutsche Bank -- that were backed by Alt-A mortgage loans.

Dancing Around the Minefield

December 7, 2007 - Investors and deal makers by now have heard about the rise in delinquencies and foreclosures recorded by industry trade group Mortgage Bankers Association. Investors that hold Fannie Mae and Freddie Mac shares or bonds now face what was once "only a subprime problem."

Another Drip of Morphine, Please?

December 5, 2007 - Countrywide's Angelo Mozilo seeks help from the government. His essay illustrates naive or wishful thinking that should alarm Countrywide shareholders.

Artists and Bankers

December 3, 2007 - Monday's Wall Street Journal feature about Philip Knight's - yes, he of Nike fame - secretive efforts to learn about the process of writing a novel at Stanford should be required reading for all business professionals - those on Wall Street and those in other areas of corporate America.

Transfusion For A Corpse

November 30, 2007 - Legislators and banks have reportedly come up with a proposal to offer relief to some borrowers with adjustable rate loans by extending the teaser period on their ARMs. The plans to extend or put off higher monthly payments for mortgage shows a lack of imagination or, maybe just plain desperation.

Wake Up Call

November 19, 2007 - It's been generally accepted that US housing agencies Freddie Mac and Fannie Mae are immune to problems in the subprime mortgage arena, but the share prices of the government sponsored enterprises suggest some investors may have changed their thinking.

Answered Prayers

November 13, 2007 - Answered prayers can turn out to be a nightmare, and this may be the case for the multi-trillion dollar mortgage debt mart. Some well-meaning government policy makers have floated the notion that consumers with costly home loans should be able to get an extension on their mortgages. Well, what happens if everyone starts asking for more time to pay off a loan? For now, Wall Street would welcome any balm to promote calm. But when…

The Big Bounce

November 13, 2007 - Much has been made of the upcoming wave of resets within adjustable rate mortgages. ARMs - developed for a high interest rate market in the 1980s - have grown in popularity since 2001, and even former Fed chief Alan Greenspan tacitly advocated ARM loans. They allowed consumers to qualify for larger homes and this, in turn, helped propel prices higher. …