Housing Doom Housing Bubble Blog

A nation that forgets its past is doomed to repeat it. - Churchill

May 8th, 2007

U.K. Subprime Rumblings

From today’s CitiWire, Kensington Group sells sub-prime broker TML:

The Kensington Group has sold its specialist mortgage and remortgage provider TML Financial Solutions to Customer Financial Solutions.

The deal follows Kensington’s sale of a £2 billion loan folder to Bradford & Bingley (BB.) last month and a profit warning earlier this year.

The company had struggled to integrate sub-prime broker TML, also known as The Mortgage Lender, since a 2002 buy-out described by brokers as ‘pretty disastrous’.

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May 8th, 2007

Rodrigue Tremblay - A Slowdown or a Recession in the U.S. in 2008?

We are honored that emminent University of Montreal Economist Professor Rodrigue Tremblay, Ph.D. has given Housing Doom permission to repost his analysis of risks for a possible U.S. economic slowdown. Here is a brief extract from Professor Tremblay’s current Wikipedia profile.

Born in Matane, Québec, Canada, he has a B.A. from the Université Laval (1961), a B.Sc. in Economics from the University of Montreal (1963). Tremblay did his graduate work at Stanford University where he obtained a M.A. in Economics (1965) and a Ph.D. in Economics (1968). He has been a professor of economics at the Université de Montréal since 1967. He is professor emeritus since 2002. Tremblay was president of the Association canadienne de science économique (1974-75) and of the North American Economics and Finance Association (1986-87). He was chairman of the Department of Economics of the University of Montreal (1973-76) ), member of the Committee of Dispute Settlements of the North American Free Trade Agreement (NAFTA) (1989-93) and vice-president of the Association internationale des économistes de langue française (AIELF), from 1999 to 2005. … Rodrigue Tremblay was elected member of parliament for the Montreal riding of Gouin on November 15, 1976, as candidate of the Parti Québécois. He served as Minister of Industry and Trade in the Government of Quebec, from 1976 to 1979. …

Rodrigue Tremblay is a public intellectual who is known for his contributions to the understanding of international, Canadian and Quebec politics. His blog on world geopolitics is read in fifty countries and in seven languages. His book The New American Empire was published in English, in French under the title "Le nouvel empire américain" and in Turkish under the title of "Yeni Amerikan †mparatorlu›u". His political analyses have been published in The New York Times, The Wall Street Journal, The Globe and Mail and numerous French-language newspapers such as Le Devoir, La Presse (Canada), Le Soleil, and several other publications.

 

I have taken the liberty of adding reference footnotes to some of Professor Tremblay’s links. Except for that this rendering should be essentially identical to his posting yesterday on his website.[1] Once again, twist and I wish to express our gratitude that Professor Tremblay has allowed us to repost his provocative work here at Doom.

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