quotable
"One of the lessons that investors seem to have to learn over and over again, and will again in the future, is that not only can you not turn a toad into a prince by kissing it, but you cannot turn a toad into a prince by repackaging it. But very imaginative people in the securities market try to do that. If you have bad mortgages they do not come better by repackaging them. To some extent the chickens are coming home to roost for the mortgage originators and securitisers."
Warren Buffett, Financial Times, October 26, 2007
Commentary
Credit Bubble Bulletin
by Doug Noland | Mar 5
Stabilization of the Greek debt crisis fueled a big rally in U.S. and global equities.
Read moreThe Bear's Lair
by Martin Hutchinson | Mar 8
With the retirement of Fed Vice Chairman Donald Kohn, President Obama now has the right to appoint three Fed governors.
Read moreFeatured Commentary
by Gordon Ringoen | Mar 5
There are no silver bullets to solve our looming energy crisis, resource depletion, and environmental pollution.
Read moreGuest Commentary
by Dr. Donald Perry | Mar 3
The answer is not blowing in the wind
Enthusiasm for wind power blows over key issues confronting this alternative energy source.
Read more
