华尔街没有说出口的下一轮灾难：default peak of the Alt-A

ZT内容：

“It could happen sooner when loan-to-value triggers the recast. But if the govt buys them all, then all previous predictions are off. No one knows what the new terms may be.”

“3 to 5 year from 2006 (so 2009 to 2011) ”

Here's a chart from Credit Suisse

And poop continues to hit the fan....All the way into 2011. These are just the resets, but I suppose the failures of the individual mortgages can be extrapolated from that data.

Are we having fun yet? Hell, it hasn't even really started in earnest.