Howard Hill was there in the early 1980's when the earliest bondlike securitizations of mortgages, and later the securitizations of nearly all large cash flow debt vehicles, were created. Hill was one of the creators. I knew him from a distance at the late, great Long Wave site under the auspices of University of Colorado in the last half of the 1990's and a bit beyond. More recently, last year and this, I had the pleasure of reading some of his book draft and some of his current opinions now that he is in a position to share them.
Nearly everyone now knows the alphabet soup of CMO's and too many others and the dramatic and drastic end results of their misuse which Hill feared ten years ago could happen.
This week Howard Hill has started his own blog Mind on Money which promises to be a real insider's view of the good, the bad, and the ugly of the debt securitization era.
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