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On Mon, Aug 11, 2008 at 1:25 PM, Karim writes:

  • Both lending standards and spds move up from cycle highs; appears defining aspect of the current episode may be the duration of tighter lending conditions (prior episodes approached current levels of tightness but were relatively short-lived).
  • Also of concern to Fed is chart on page 3 showing significant tightening of standards for prime residential mortgage loans (though all types of loans showed a deterioration)


Yes, and note how housing showing strong signs of bottoming and GDP moving up at the same time.

Interesting to watch the blood flowing around the clot, as it necessarily does.

Though not without difficulty.


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