I do not pretend to be an expert on financial markets. However the financial markets amateur in me offers a big "Hmmmm ..." when I see headlines like this one from yesterday's Wall Street Journal: "Prime Time? Investors Bet Against AAA." In short, prime AAA mortgage bonds are going for 30 cents on the dollar. Yup, AAA!
Before blogging became all the rage, Tom was posting book reviews and Observations (essentially early blog posts) to this site. You can find the archives below.
What we're talking about
on the front page.