Summary of Mary Childs's The Bond King

Please note: This is a companion version & not the original book.

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#1 In August 2005, Dan Ivascyn drove around with his mortgage broker to look at houses in the suburbs of Boston. They talked about the state of the market, which was not surprising to Ivascyn. It was slowing slightly, but that was normal for this time of year.

#2 One of Ivascyn’s colleagues was in Detroit, one in Miami, one in Vegas. They called their contacts at various mortgage lenders and asked to be set up with local Realtors and branch officers, so they could go on ride alongs.

#3 Ivascyn was assigned to the Housing Project by Gross, and he was excited to see how the market had changed. He was shocked by the extent of the lending malpractice.

#4 The housing market was the main reason Pimco made its billions. In 2006, their head of corporate credit predicted that if housing prices stopped rising, consumers would stop spending, which would cool the economy, which would make lending standards tighten.

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eBook: 24 marca 2022