JT Note: Misleading Article from Reuters (see below)
Stimulus Plan, Bad Assets May Inflame Risk
Reuters- February 19, 2009
by Martin de Sa'Pinto

“New bad assets are still being generated, some of them with the blessing of the U.S. Congress, such as no money down mortgages and extension of mortgage loans,” [JT Note: The last contact I had with this reporter was February 10, 2009, and my comments referred to an earlier proposal for new "no money down" mortgages and loans to make mortgage payments. My comments in no way refer to President Obama’s plan to stem existing mortgage foreclosures] she told Reuters [JT Note: Yes, on a different topic more than a week earlier], adding this could finish by deepening the recession.

JT Note: I am a long-time supporter of the plan to stem existing mortgage foreclosures, and I am an ongoing supporter of a return to prudent mortgage lending practices.


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Janet Tavakoli is the president of Tavakoli Structured Finance, a Chicago-based firm that provides consulting to financial institutions and institutional investors. Ms. Tavakoli has more than 20 years of experience in senior investment banking positions, trading, structuring and marketing structured financial products. She is a former adjunct professor of derivatives at the University of Chicago's Graduate School of Business. She is the author of: Credit Derivatives & Synthetic Structures (John Wiley & Sons, 1998, 2001), Structured Finance & Collateralized Debt Obligations (John Wiley & Sons, 2008), and
Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street (John Wiley & Sons January 2009)

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