Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
Well, it can be a really useful tool, but in Mortgage Backed Securities, it has been an unmitigated disaster, that's for sure. Sale value sucks, while cash flow value is something entirely different. From what I've seen, the real reason for a lot of the losses reported that are driving the market being in the toilet are a result of companies being forced to mark down asset prices to market value instead of cash flow value. Somebody is making a shitload of money somewhere.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address