IMF Economist: Credit Crisis to Worsen; Large Bank May Fail
>"The worst is yet to come in the U.S.”-Kenneth Rogoff, former chief economist at the International Monetary Fund...
Substantial Implicit Subsidy to GSE Shareholders...
I came across an interesting Fed paper the other day from 2005. It looked at how much subsidy was built into shareholder’s equity...
Zillow Q2 RE Update
map courtesy of Zillow Real Estate Market Reports > Check out that map above; its from RE website Zillow.com. I haven’t...
Strongest & Weakest US Banks and Thrifts
Interesting report from Weiss Research: The “X” List Report ...
Nonfeasance in Financial Oversight
“The system is completely broken. It’s amazing that the system ever worked at all.” -Marc L. Weinberg, Acting Executive...
A Year of Subprime Turmoil
Click for video Source:International Herald Tribunehttp://www.iht.com/multimedia/audioslideshow/2008/08/12/business/archive/index.html
Fraud in Real Estate, Mortgages & Homebuilders
An article in the weekend WSJ got me thinking about Real Estate related frauds of all kinds. Titled FBI Probes Unusual Incentives for...
Sold to Fortress Vultures at 12 Cents ?
This is hysterical I found the line "I’m standing on Goldman’s Trading Floor Now" spoken in German by...
Prof Nouriel Roubini is “Dr. Doom” in NYT Magazine
I had lunch with Nouriel on Friday at Mercer Kitchen in Soho, not too far from his NYU offices. We chatted about many things (he gave me...
Fannie and Freddie: Worth Negative $50 Billion Each
Fascinating piece in Barron’s this week on our favorite junk paper: Phoney and Fraudy. A few interesting factoids about the GSEs,...