Marshall here, as Ed is busy sunning himself in the Bahamas, whilst I am stuck in snowy Denver! It sounds as if JMP Securities has also read the California report that I discussed recently. This is the first outside source that I have seen respond to that report.
It is so ironic. I think that the blue collar areas that were the most in danger financially have been corrected, perhaps even over corrected and yet the markets are focused on other things even though, housing was always what America’s monetary and fiscal authorities were looking to cure for the financial system to stabilize.Read more ›