The Battle Over the Bottom in Financials
Another fun discussion with Henry. As you can see, I have trouble forming an opinion . . . Note: I have a great deal of respect...
Bank Losses: Half Trillion and Counting
Remember the good old days? Ahhh, a simpler time, when we were repeatedly told that sub-prime didn’t matter, that it was contained,...
Steel Owes Thain a Royalty Payment
Correct me if I am wrong, but I do believe Robert Steel of Wachovia owes a royalty payment to John Thain of Merrill Lynch. Why? For for...
MBIA DESERVES to Go Belly Up
"DESERVES to go belly up" seems to be our latest new series, but its not. Instead, this is the 2nd — and hopefully last...
Who is the least trustworthy C.E.O. on Wall Street?
That was the question Portfolio asked. The results from a readers poll, along with appropriate quotes: > Alan Schwartz, Bear...
Fannie & Freddie & Peter Pan Paulson
Nice earnings this quarter; Don’t gloat — you are on the hook for the shrtfall!
Freddie’s Risk Officer: CEO Ignored Warning Signs
“He said we couldn’t afford to say no to anyone…” -David A. Andrukonis, Freddie Mac’s former chief risk officer, about...
Bear Trap, part II
I mentioned earlier the "anonymous" book Bear Trap. A few additional details have come to light, and they are worth sharing:...
Gartman: The Reign of Thain Has Been Anything But Plain
Dennis Gartman pulls even more John Thain Merrill quotes — and makes it apparent that Mr. Thain is a slickster too clever by half:...