This article looks at how trouble among bond insurers is influencing investor sentiment. It also examines how the bond insurers got into trouble in the first place.

This article looks at why the ratings firms should act now to repair their reputations by doing broad based downgrades. It also examines the effect this would have on GSEs and the capital adequacy ratios of many financial firms. It points out the disconnect between the rating's firms own loss projections and the ratings they have on AAA tranches.

These charts from calculated risk detail the hit that even AAA rated tranches of CDOs are taking. Truly mindblowing when you see how much the ABX has traded off even at the highest quality tranches.

Interesting article from the Wall Street Journal about John Paulson's $4bn payday and how his funds are up $15Bn since he put on his short ABX trades.

This article tries to make sense of the $15bn estimated writedown that Merrill will probably announce with their earnings on Thursday. It covers some of the basics of losses in the cash and synthetic markets. It also focuses on why Merrill may be very conservative in their marks in an effort to make their future performance look better.

Article that provides information on some of the individuals behind the mortgage securitization and CDO repackaging machines on Wall Street. The article surveys why things went so wrong.