Well, the "Golden Sieve" (description: on two WRLDs sites, here and here ) goes live tomorrow; PennyMac, debuts as an IPO (Initial Public Offering, when a stock first trades on the exchange); symbol $PMT
Somehow, I find this disturbing. I suppose because I hate seeing homeowners, who suffered some of the worst consequences for being just numbers in a profit or loss column, once again being used as fodder on a balance sheet. I know markets involve our participation, but in this case, I think many homeowners had no idea how integrated home ownership was with derivatives and REITs which were bought, sold and traded.
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