June 16, 2019

Return of the Mortgage-Backed Security

Low-income housing, like this one in Toronto, was a prime target for bets against the mortgage market. Now those same underlying securities may be undervalued.

How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans. That’s how Michael Lewis partly described the beginning of the 2007 financial crisis. In his book “The Big Short”, Lewis chronicles how poor-quality loans were bundled and sold as mortgage-backed securities, or MBS for short. He does a […]

Greece is the Word in Michael Lewis’s New Book on Europe

Greece is the word in Michael Lewis's new book on Europe

 Greece is the word in Michael Lewis’s new book on Europe and its debt crisis. Michiko Kakutani of the The New York Times gives an excellent summary of Lewis’s new book, “Boomerang: Travels in the New Third World”. Kakutani says Lewis “makes topics like European sovereign debt, the International Monetary Fund and the European Central Bank […]