Market Failure, Mortgage Style
In our prior post, I alluded to the failure of markets and mortgage origination. This requires additional discussion. When discussing...
12 Questions on Markets and the Economy
Today we are going try something a little different. Rather then synthesize what’s in the news, flavored with my opinions, I am...
NY Fed Pres Geithner on Credit Crisis
Today, there is a meeting at the NY Fed of 17 firms this afternoon to discuss changes in "Derivative Infrastructure" and Credit...
Sell Rating on Brokers
Note: This was written Sunday, and scheduled to post later this week — but given the Lehman news, its more timely this AM: >We...
Gasparino vs Einhorn, Kohn & Ritholtz
We have a rugby scrum! ProBanks, ProLehman: Dick Fuld (Lehman CEO), Charlie Gasparino (CNBC), Doug Kass (Seabreeze Partners), Thomas...
Moody’s to Cut Ambac, MBIA AAA Rating
Looks like trouble for the monline duolines. Barring any further capital raise means a AA rating is inevitable: The world’s largest...
Sweetheart Deal for Rating Firms
Too little, way too late: "Under fire for the high ratings they awarded to subprime mortgage securities, three large credit rating...
Perception versus Value
"In the short term, the market is a ‘voting’ machine whereon countless individuals register choices that are product...
FASB Bombshell: FAS 140 to Eliminate QSPEs
The "qualified special-purpose entities" (QSPE) — those not unlike Enron-style SPVs in which many leveraged financial...