From the Poppyfields of Mexico to the Mortgage Deals of Bear Stearns

Manhattan DA Investigates Bear Stearns Mortgage Traders

(Deal Flow) Teri Buhl's story at The Distressed Debt Report is behind a paywall but you can read David Indiviglio's summary for

free at The Atlantic


Absolving Karl Marx for Communism (Chronicle of Higher Education) Terry Eagleton gives us the latest version of the old trope about true Marxism being better than Marxism as practiced by actual Marxists.

Fitch: Increasing interest rates bad for investors, home affordability (Housing Wire) In a rising rate scenario, U.S. banks' current MBS holdings of roughly $1.3 trillion would face mark-to-market losses or depressed earnings. Here we go again.

OCC Gently Admonishes Big Banks on Foreclosure Practices (The Atlantic) Tsk. Tsk. But no fines or penalties.

UBS Just Hired The Former Head Of Wachovia's Investment Bank To Be Chairman Of Its American I-Bank (Business Insider)

Think of the scariest thing you've ever done. Okay. Now go watch this video of Trace Crutchfield sneaking around a Mexican drug lord's poppy field and reflect on how you're really just a big cry baby.