Zitron: The Subprime Datacenter Crisis

Zitron: The Subprime Datacenter Crisis

What happened

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The market for insuring mortgage bonds was about 20 times larger than the mortgage bond market.
5500 different mortgage bonds had been placed or referenced in CDOs over 36,000 times.
On July 1, 2005, Lehman Brothers received Euromoney's Award For Excellence as the Credits Derivatives House Of The Year.
Lehman Brothers was leveraged 25.3x in 2005.
On January 1, 2008, Risk Magazine named Lehman Brothers' Point risk management system as its In-House System of the Year.
In 2006, 20% of all new mortgages were subprime.
In June 2005, Larry Kudlow dismissed housing bears as wrong.
In September 2006, Michael Milken referred to CDOs as a financial innovation in the Wall Street Journal.
Mortgage defaults began to spike starting in 2005 with the expiration of teaser rates.

The permanent annual subscription rate being offered is $60. ($60)
The usual annual subscription price is $70. ($70)
Premium posts are usually between 10,000 and 20,000 words. (10,000-20,000)
The market for insuring mortgage bonds was about 20 times larger than the mortgage bond market. (20)
5500 different mortgage bonds had been placed or referenced in CDOs over 36,000 times. (5500 bonds, 36,000 times)
Lehman Brothers was leveraged 25.3x in 2005. (25.3x)
In 2006, 20% of all new mortgages were subprime. (20%)