A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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By Eliot Spitzer What to do with Jamie Dimon? The CEO and Chair of JPMorgan Chase has tried so hard in the past several years to seem the “good banker.” He is so charming and gracious, yet all the while lobbying, cajoling, pushing, and wheedling to eviscerate any semblance of real reform on Wall Street....
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It was the risk model, an inherent flaw discovered after the fact but in time enough to pass the bag onto others. This is the big one' says one chieftan, 'just the start, most of us won't make it past next week. This will destroy the firm. But what oth...
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The problem with mortgage fraud wasn't broker compensation: it was the ease of the fraud and the incentives throughout the food chain for collusion. New Fed rules simply wipe out competitors to the "too big to fail" mortgage banks.
Why are we not ...
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Jim Chanos, founder of hedge fund Kynikos Associates, is arguably the most well-known short-seller in the world, having predicted the high-profile demise of companies like Enron. Now, Chanos is setting his sights on China, the world's second largest...
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The effects and outcomes of the stimulus continue to mount. In another “would da thunk” development, auto sales activity have collapsed to new Depression lows as the clunker program goes off (FT.com).
Signs are already emerging that overall sales will fall back sharply now that the incentives have expired.
Not to...
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The is now increasing evidence that an overshoot is developing in housing, with the main thrust coming in higher end prime mortgages. In February the Government came up with programs to spend $75 billion on incentives for mortgage servicing companies that reduce payments for troubled homeowners. The Treasury Department said the program will...
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The is now increasing evidence that an overshoot is developing in housing, with the main thrust coming in higher end prime mortgages. In February the Government came up with programs to spend $75 billion on incentives for mortgage servicing companies that reduce payments for troubled homeowners. The Treasury Department said the program will...
Read More »
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