Wednesday 4th December
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MM PODCAST: From Fannie Mae to FHA – Edward Pinto Wants Government Out of Housing Finance
Written on 28 Mar, 2012 at 20:50
On this Mandelman Matters Podcast, I ask Ed about the results of his extensive research into the FHA, which he refers to as the "new sub-prime," and "the next bailout." His extensive study of the FHA's data in terms... (Continue reading)
Hey Everybody… It’s “Pretend You’re Surprised About the Economy Day!”
Written on 1 Jun, 2011 at 9:51
Falling Home Prices, the Next Financial Crisis is Near, Defaulters Aren't Deadbeats After All, the Economy with Gwen Ifill and MERS has No Clothes.... (Continue reading)
A Crush on Matt Taibbi and a Pox on Both Their Houses
Written on 19 Apr, 2011 at 5:49
So, the strategy now seems quite clear: Our government decided to address the financial crisis and economic meltdown by handing out hundreds of millions to the wives of Wall Street executives so they could invest in student loans and commercial... (Continue reading)
Ex-Asst. Treasury Secretary Herb Allison Back at Beautiful Connecticut Home
Written on 18 Mar, 2011 at 12:04
See, because in the old days public servants, those that worked for the government, seemed to make less money than Phil Donahue or Marlo Thomas. They didn't used to have 7,379-sq.ft. 1911 wood and stucco $25 million Greens... (Continue reading)
Mandelman U. Presents – Securitization & Mortgage Backed Securities
Written on 12 Mar, 2011 at 5:38
Come back to 6th Grade where I'll be teaching real 6th graders all about what the banks did to break the world. We're going to cover the Bond Market and Securitization, CDOs and CDSs... and even Synthetics and... (Continue reading)
If at first you don’t succeed, CRIME, CRIME again.
Written on 27 Feb, 2011 at 10:32
I'm not going to attempt to write some scathing or potentially insightful commentary about Mr. Mozilo, I'm sure that's been done many times before, and frankly... he bores me to no end. But, at the same time I felt... (Continue reading)
Watch Which Words You Use With Republicans – They Could Take Their Toys and Go Home
Written on 18 Dec, 2010 at 7:52
The Republican's version of the report is said to be a whopping 13 pages long, and is expected to place the blame for the crisis squarely on the shoulders of poor people who wanted to buy houses, and how some... (Continue reading)
Zillow: U.S. Homeowners to Lose $1.7 Trillion in 2010, Already $9 Trillion Lost Since 2006
Written on 9 Dec, 2010 at 22:24
So... I have a question for my fellow Americans... and for elected representatives in Washington D.C. and state legislatures... and for that offensive, mindless twit Diana Olick on CNBC... Are we done irrationally punishing the so-called "irresponsible" people yet? ... (Continue reading)
IT’S BACK & IT’S HERE: Mandelman’s Monthly Museletter – Version 9.0
Written on 19 Nov, 2010 at 16:55
1. Help is NOT on the Way... 2. Go see the documentary "INSIDE JOB"... if it's not already too late. 3. One and Done... I Agree... Obama Shouldn't Run in 2012. 4. The Government is Launching Criminal Probes Into... (Continue reading)
Well, Would You Look at That: Elizabeth Warren Might Be Replaced by a Bank Lobbyist
Written on 11 Nov, 2010 at 5:35
So, take a few minutes and write to your elected representative about this. No one else, unless you feel like it, just your person in Congress. Tell them this line of thought is unacceptable, that we want Elizabeth... (Continue reading)
Podcast: Mandelman in the Morning – Labor Day
Written on 6 Sep, 2010 at 13:29
1. Lehman Bros. CEO says bankruptcy wasn't Lehman's Fault. 2. Stimulus is folly. 3. Call it a depression. 4. Geithner's happy about HAMP. 5. Foreclosures breed foreclosures. 6. AZ's loan mod program won't work. ... (Continue reading)
Ratings Agencies Panic: New Financial Reform Bill Means Expert Liability
Written on 21 Jul, 2010 at 19:16
Perhaps most notably, but least mentioned, the bill requires the credit rating agencies, Moody's, Fitch, and Standard & Poors, to not only be more transparent, but also potentially liable for issuing "bad ratings" on bonds. The role of the... (Continue reading)
For Bankers of Failed Financial Institutions… the Pain Is Not Over Yet
Written on 13 Jul, 2010 at 22:11
Shiela! There you are! Where the heck have you been girl? Last I heard, Hank Paulson sent you for coffee, and you've been standing in Geithner's shadow ever since. It's about damn time, girl! ... (Continue reading)
Wall Street to Securitize Delinquent Loans. Because it went so well last time, I suppose.
Written on 25 May, 2010 at 8:31
So, based on that... the only logical thing to do is securitize some non-performing loans. Of course, it's brilliant! I'm calling AIG-FP later today to see if they'll sell me a credit default swap against this crap. ... (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)
Books That Matter: 13 Bankers, by Simon Johnson & James Kwak
Written on 20 May, 2010 at 7:15
On Friday, March 27, 2009, the CEOs of thirteen of the country's largest financial institutions gathered at The White House to meet with President Barack Obama. ... (Continue reading)
Federal Reserve Bank President Says We’re In For a Long Hard Road Ahead
Written on 19 May, 2010 at 22:04
What happened? As the decline in housing prices began to accelerate across the country, this exposed underlying cracks in the financial system. Foreclosures began to rise, loan losses mounted, and housing prices dropped even more, creating a downward spiral not... (Continue reading)
WaMu and We Don’t Lose Deals to Income!
Written on 14 Apr, 2010 at 5:55
Those are the words that were printed on a large banner that hung above the cubicles at Ameriquest Mortgage in Sacramento, California, according to an ex-employee of the now defunct sub-prime mortgage banking lender that was shut down by Citigroup... (Continue reading)
Books I’ve Loved Reading: Freefall by Joseph Stiglitz
Written on 8 Apr, 2010 at 11:08
He points out, for example, that when you talk about a group that borrowed too much on the assumption that housing prices would never fall and sub-prime loans presented no risk, you're talking about the Wall street crowd. Some... (Continue reading)
BREAKING NEWS: Amendment Allowing Judges to Modify Mortgages to be Included in H.R. 4173 – Wall Street Reform and Consumer Protection Act
Written on 8 Dec, 2009 at 4:01
We need judges to be able to write down mortgages on primary residences because the banks aren't doing it voluntarily, the administration's Making Home Affordable plan isn't working, and the result continues to be millions of foreclosures that are destroying... (Continue reading)