Friday, 15 February 2008

Subprime Compared to S&L

In the second comparison of subprime to the S&L crisis I've heard recently (the other being by Kevin LaCroix of the D&O Diary as posted by me here), Navigant Consulting said that the rate of litigation filing is ahead of the pace of litigation filed in the S&L crisis. See Advisen's story on this report here.

Maybe it's just that it's Friday, but the math in their announcement doesn't seem to add up:
The number of subprime-related cases filed doubled during the second half
of 2007, from 97 to 181 (for a total number of 278) cases.

I suppose this means that they found 97 cases in 1H 07 and 181 in 2h 07. I've contacted Navigant for a copy of the report. 278 seems high, but perhaps their definition of subprime-related is different than ours. Advisen tracks subprime-related cases for the benefit of the insurance industry, our table currently shows 194 cases. For information, contact me or see

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