More Clues on Ponzi Finance

Last night were received more clues on the condition of Ponzi finance, this, from one of the primary purveyors of toxic mortgages, New Century. The footnotes were most interesting. Turning immediately to the 60 days plus delinquencies, we see that 2.42% of the 2006 vintage hits this column. Incredibly, 2.03% of the recent mortgages NEW [...]

This entry was posted on November 3, 2006 at 7:54 am and is filed under Today's Markets. You can follow any responses to this entry through the RSS 2.0 feed.