Comments on: Buy Agency Bonds. Buy Agency Passthroughs. http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/ Helping Institutions and Ordinary People Invest Better by Focusing on Risk Control Fri, 12 Mar 2010 05:46:42 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: PaulinKansasCity http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/comment-page-1/#comment-17176 PaulinKansasCity Sat, 08 Mar 2008 18:39:32 +0000 http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/#comment-17176 I have to think after reading in Saturday WSJ the TMA assets were sold on the open market that lenders do not want to take this stuff on their balance sheets; THere is a big opportunity for a cash buyer higher; PIMCO is laughing right now. I have to think after reading in Saturday WSJ the TMA assets were sold on the open market that lenders do not want to take this stuff on their balance sheets; THere is a big opportunity for a cash buyer higher; PIMCO is laughing right now.

]]> By: AllanF http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/comment-page-1/#comment-17169 AllanF Sat, 08 Mar 2008 05:06:09 +0000 http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/#comment-17169 Can NLY and Carlyle avail themselves of the TAF? I'm thinking no. It seems their bankers have an interest to force these margin calls, take the collateral onto their balance sheets then borrow against it from the TAF, yes? If the only problem with that scenario is it is too conspiratorial and underhanded of the brokers, I say you must have a higher opinion of them than I do. Though I'd be reluctant to jack around with the Carlyle investors. Can NLY and Carlyle avail themselves of the TAF? I’m thinking no. It seems their bankers have an interest to force these margin calls, take the collateral onto their balance sheets then borrow against it from the TAF, yes?

If the only problem with that scenario is it is too conspiratorial and underhanded of the brokers, I say you must have a higher opinion of them than I do. Though I’d be reluctant to jack around with the Carlyle investors.

]]> By: PaulinKansasCity http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/comment-page-1/#comment-17167 PaulinKansasCity Fri, 07 Mar 2008 23:38:30 +0000 http://alephblog.com/2008/03/07/buy-agency-bonds-buy-agency-passthroughs/#comment-17167 Great work; now if only the lenders to NLY and Carlysle Group would look at it the same way! I guess what's behind that is the lenders are so weak they are trying to strengthen their own balance sheets. AS an aside I had a client that had a mortgage with BAC; the client had a private mortgage agreement on the commercial property to a third party; BAC called; told the client they didn;t like it and called the loan; a 45 day window or so to pay-off; the client was able to refi with a community bank; but that behavior can not bode well to any leveraged public firm in real estate or debt securities. Great work; now if only the lenders to NLY and Carlysle Group would look at it the same way! I guess what’s behind that is the lenders are so weak they are trying to strengthen their own balance sheets. AS an aside I had a client that had a mortgage with BAC; the client had a private mortgage agreement on the commercial property to a third party; BAC called; told the client they didn;t like it and called the loan; a 45 day window or so to pay-off; the client was able to refi with a community bank; but that behavior can not bode well to any leveraged public firm in real estate or debt securities.

]]>