The Business Cycle Dating Committee of the National Bureau of Economic Research, the semi-official arbiter of whether we’re in a recession or not, has finally made the call: The committee determined that a peak in economic activity occurred in the U.S. economy in December 2007. The peak marks the end of the expansion that began [...]
On the sad occasion of the death of Doris “Tanta” Dungey, I’ve been hunting through her classic collection of Compleat Ubernerd posts about the mortgage business for some commemorative excerpts. But the whole point of these long, mostly brilliant essays on the workings of REMICs, TACs, PACs, CDOs, ABSes and the like is that they [...]
