LLCS, LPS, MLPS.
Pass throughs, taxation diarrheas.
Call it a Procedural, States' Rights, Constitutional Queering.
The analogy to 2007 is obvious to me, where, among many other things, the investment houses attemped to federealize real property law.
The mortgage backed securities meltdown was based on both procedural and substantive flaws and market place foibles, that is on both bad legal and structural securities premises, and on ubiquitous substantive market valuation and risk failures.
I see no reason to believe, without having studied the substantive underpinnings, that REITS should be any more creditworthy, as investments, apart from their procedural problems, than mortgage backed securities were or are.
Why shouldn't REITS be as weak investment vehicles as MBSs?
Why shouldn't REITS be as weak investment vehicles as MBSs?
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