Interest Rate Roundup

Monday, March 24, 2008

Quick Monday morning musings

So here we are, strapped in for another week of market fun. What's catching my eye this weekend?

* A story from the Washington Post about the psychology of excessive leverage, borrowing and spending. I like this quote from Jason Zweig, author of "Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich" ...

"If I borrow a million dollars to buy a house, the fact that I can't afford to borrow it is dwarfed by the fact that I'm getting a million dollars," Zweig said. "That's just really exciting. And the entire subprime industry acted as the credit card industry has acted: focusing people's attention on what money can do for you right now and taking your mind off having to pay a lot of money down the road."

* News that CIT Group -- mentioned here before the long weekend -- is looking for cheap funding from overseas banks.

* Selling in the bonds, buying in stocks on more "The worst is over" market action. Next up: Data on February existing home sales (followed by new home sales on Wednesday)


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