Thursday Links

"AY financing documents have been signed, city official confirms"

This means nothing. 55 million is a drop in the bucket. AY is in serious trouble. Here read this, good clean fun.

Thornburg Mortgage Plunges on Bankruptcy Worry

http://www.nytimes.com/reuters/business/business-thornburg.html?_r=3&ref=business&oref=slogin&oref=slogin&oref=slogin

Thornburg Mortgage Inc said on Monday it has failed to meet a surge in margin calls, raising concern the jumbo mortgage lender might file for bankruptcy and causing its shares to fall by more than half. Thornburg said it has faced $270 million of margin calls since Feb 27, on top of more than $300 million in the prior two weeks. The company said it was able to meet the earlier calls but could not meet a “substantial majority” of the new calls because of “limited available liquidity.” Margin calls force borrowers to pay back loans or post more collateral.

"
Thornburg Mortgage Inc said on Monday it has failed to meet a surge in margin calls"

This says it all. Welcome to the destruction of wealth,

The What

Someday this war is gonna end....

Posted by: guest at March 6, 2008 9:28 AM

The AY documents have been signed? How can this be? Why, just last night a flyer dropped in the vestibule of my building ensured me that the fight against AY is far from over.

Somebody better contact these city officials and tell 'em to give that money back so that it can be used for something else - like additional funding for public schools so that graduates like The What can learn to write properly.

Posted by: guest at March 6, 2008 9:33 AM

One comment on the state of a big hedge fund. Margin calls of 500 million that will impact the ability to get credit.

Two comments on attacking The What.

The What

Someday this war is gonna end...

Posted by: guest at March 6, 2008 10:57 AM

AM NY giving props to Crown Heights!!!

Someday CH will have a coffee shop.....

Not The What

Posted by: guest at March 6, 2008 11:22 AM

illiterate jerk is an overstatement.

Not The What...

Posted by: guest at March 6, 2008 11:57 AM

OK, he's just illiterate.

And a jerk.

Posted by: guest at March 6, 2008 12:25 PM

The What is financially literate and that's what counts. If 2 out of 3 posters are bothered by what he says and take the time to flame, then that is evidence that he's spot on and getting through to them. The truth hurts. Prices will be halved from peak. Ouch! If I was holding the bag I'd be calling him a jerk too.

Posted by: guest at March 6, 2008 1:13 PM