Implode-o-meter

I have been tracking the demise of the US housing market - the Economist has a good article today that discusses current events and mentions the Mortgage Lender's Implode-O-Meter (!). The recent Bear Stearns fiasco is only heightening the tension of an ever-increasing meltdown... Some of our clients have also been telling us about their concerns for their MBS, ABS and CDO pricing and trading businesses as the sub-prime market continues to cause derivatives effects in these structured securities.