from Theflyonthewall.comMortgage Market Getting Uglier and UglierIndyMac Bancorp (IMB) said last night the market for mortgage-backed bonds has become "very panicked and illiquid."American Home Mortgage (AHM) also announced last night it is closing most of its operations today with nearly 7,000 employees losing their jobs.Yesterday, we blogged about Positive Carry, a 124-foot yacht that is now up for sale from former hot-shot mortgage trader John Devane of United Capital.The great long-time investor John Templeton used to say look for[...]
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[Source: The Money Blogs]
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