Wednesday 4th December
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Bringing Up the Rear – Dale Westhoff, Credit Suisse Group AG
Written on 16 Feb, 2012 at 1:17
Apparently, right before you made your idiotic comments about moral hazard, saying that principal write-downs won't save homes, Credit Suisse had just won the bidding process and as a result bought $7.014 billion in face value RMBS from the Federal... (Continue reading)
HO, HO, HOmeless… A Sobering View of the Crisis Affecting Us All
Written on 24 Dec, 2011 at 5:00
And to the homeowners who feel ashamed... who have suffered the indignity of losing a home in silence... this wasn't your fault. You didn't break the bond market and send housing prices into a free fall. You didn't... (Continue reading)
Author Michael Hudson Knows The Monster – A Mandelman Matters Podcast
Written on 4 Dec, 2011 at 12:59
Here's something you can't do anywhere else... listen to author Michael Hudson not only talk with me about his book, but listen to how he applies his vast knowledge of the subject matter to what's going on today in our... (Continue reading)
If You Think the Meltdown Was the Fault of Homeowners, Think Again…
Written on 25 May, 2011 at 18:46
So... in "Pillage," Nomi Prins explains in terms anyone can understand that factoring in the leverage at 11:1, we're looking at a $140 TRILLION economic problem... yes, you read that correctly... that's trillion, with a 'T'... (Continue reading)
The Federal Reserve Made a Record $47.4 Billion HELPING Housing Market in 2009?
Written on 27 Jul, 2010 at 20:05
The Federal Reserve, by the way, doesn't exist to make a profit like the commercial banks. Until 2009, the Fed paid no interest on the bank reserves and other monies it holds, and it earns interest on the Treasury... (Continue reading)
JPMorgan Chase Blows Away Analysts’ Estimates, Lies Beyond Expectations
Written on 21 Jul, 2010 at 7:34
But, I suppose as long as Geithner doesn't make the mega-bank write down any losses in the future, everything will work out just fine and dandy. What, me worry? No chance of that. Besides, I don't know... (Continue reading)
Judge Sentences Wall Street’s Greed and Hedge Fund Founder to Prison
Written on 23 May, 2010 at 16:23
"He had a choice as a leader of the financial industry. He could have led by example. Instead, he chose to follow. He became a joiner, surrendering to the spree of the financial market's virtual mob mentality that nearly brought... (Continue reading)
Senate Investigation Says Banks Caused Crisis, Not Borrowers
Written on 22 Apr, 2010 at 13:45
As I've said what feels like a million times in a million different ways... it wasn't the borrowers, it was the banks, and what caused the crisis was that the banks broke the bond market... and it remains broken to... (Continue reading)
Federal Prosecutors Bungle Case Against Bear Stearns Fund Managers
Written on 11 Nov, 2009 at 14:07
Regardless, it's hard to imagine that you can cost investors $1.6 billion, get caught with a paper and email trail that shows that you knew what you were doing as you lied your ass off along the way, and then... (Continue reading)
Cioffi & Tannin, Bankers That Broke The World, Part 2
Written on 13 Oct, 2009 at 2:49
From the beginning, the banking lobby has tried to blame this crisis on everyone but the banks. It was the banking lobby that started the P.R. campaign that blamed borrowers... then they blamed mortgage brokers... then sub-prime lenders... everyone... (Continue reading)
Cioffi & Tannin: Future Household Names, if Anyone Still Owns a House in the Future
Written on 11 Oct, 2009 at 18:54
It would seem that they told themselves that the Funds' bleak prospects would change, come around, and that their incomes and reputations would remain intact. Just a couple of months later, on June 9, 2007, when the Funds' collapse... (Continue reading)