Sorry - YouTube has mangled the video and the sound is stuffed. I can't seem to fix.
Mish alerted me that Land America had filed bankruptcy. Its a company I used to follow - but I never shorted.
This is a gem - an interview from only 18 months ago.
The money quote: "the United States real estate economy is the envy of the world... the ability to create value out of real estate by taking mortgages and securitising them..."
And this was the seemingly boring business of title insurance!
Poor quality clip, skips a lot, video out of sync with audio, sorry John but this is just a pain to watch.
ReplyDeleteOff topic about Bair and Geithner. I know who you are rhttp://www.bloomberg.com/apps/news?pid=20601087&sid=aTFflUwD.Qbg&refer=homeooting for.
ReplyDelete