It’s Safe in the Subprime Pool!

"We’re safe," [Ford] said.
"Oh good," said Arthur.
"We’re in a small galley cabin," said Ford, "in one of the spaceships of the Vogon Constructor Fleet."
"Ah," said Arthur, "this is obviously some strange usage of the word ‘safe’ that I wasn’t previously aware of."
       – From Hitchhiker’s Guide to the Galaxy

Good news. S&P, who missed most — okay, a lot — of the trouble in subprime now says it’s (nearly) safe to get back in the subprime pool. Given all the surprises in this unwinding, the headline today from S&P put me in mind of the above HHGTG quote, to be honest.

More Subprime Write-Downs To Come, But The End Is Now In Sight For Large Financial Institutions

It’s also kind of an unfortunately ill-constructed headline, when you think about it.

[S&P via FT]

Related posts:

  1. Newsflash: Tech Not Safe from Subprime
  2. Subprime and the Tech Wreck
  3. The Hitchhiker’s Guide to Subprime
  4. Subprime Delinquency Rates by Year
  5. Subprime Ate My Homework

Comments

  1. The end is now in sight, indeed!