I certainly think you are missing Dr. Joseph Mason, a LSU economist and senior fellow at the Wharton School. In February, 2007, he wrote: ??????2005 and 2006 saw massive deteriorations in subprime mortgage performance, particularly in ???non-traditional??? hybrid, interest-only, and negative-amortization loans. The percentage of subprime mortgages packaged into bonds and delinquent by 90 days or more, in foreclosure, or already turned into seized properties increased to 10 percent by 2006, the worst levels in nearly a decade???.an analysis of subprime spreads suggests that investors may not fully appreciate these risks.??? The full paper is here: http://www.hudson.org/files/publications/Mason_RosnerFeb15Event.pdf.
Dr.Mason also recently wrote a paper about the economic policy risks of cap-and-trade markets for carbon emissions. I think his spot-on prediction of the subprime meltdown gives quite a bit of weight to his work on cap and trade, and the threat of a carbon bubble. That paper here: http://www.climatetaskforce.org/2009/09/09/new-ctf-study-examines-market-risks-of-senate-climate-bill/.
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