Thursday, June 10, 2010

H today


I am about 2/3 finished with The End of Wall Street. This book is an overview of the entire meltdown. It follows the crazy CDOs, touches on the credit defaut swaps, goes on to describe how Bear Stearns was saved, how Lehman was not, how AIG was too big to fail. The two remaining investment banks became regular banks, which allows them to borrow money from the "federal window" at near 0% and invest the money. That is why Goldman and JPMorgan show big profits these days.

The other books I read about his include House of Cards, plus the following books. House of Cards was about Bear Stearns and how the government helped save it.

Too Big to Fail is about the fall of Lehman and the bailout of AIG.

The Big Short is about four people who "went short" and made millions and billions by going against CDO using credit default swaps, insurance costing pennies on the dollar.

I have one more book to read on the meltdown. It is 13 Bankers. I have this on reserve at the library. Two of my books on are my Kindle (House of Cards and The Big Short); the remaining ones I got from our library.

My next book is Finding Chandra. This is a Washington DC mystery of Chandra Levy. This story was the top story in Washington until September 11, 2001.

Enough on books. Suppose to be nice this weekend. Time to mow the lawn then to spray the lawn with Weed-B-Gone.

The picture here is a house. It is in the Far East from the writing on the house. I know, strange house. I have some more pictures of strange houses, all from Bill in Eugene.


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