Monoline Downgrade Fallout (1); resulting fallout (1); subprime fallout (2); widely expected fallout (1).
Fri 2009-10-23 09:40 EDT
A look into the repercussions of a financial system gone mad. Where trust is an illusion. Ethics merely a word in a forgotten dictionary. The Fed, the government, Wall Street, and even the lowly stock broker or financial advisor -- all a den of thieves.
Jesse's Café Américain Fri 2009-10-23 08:54 EDT
The Extinction of Ethics in Finance -- The Fallout, by Greg Simmons: ...I could probably write an entire thesis about the utter abandonment of morality by today's so-called investment community. I mean, does everybody have to cheat each other to make a dollar? The subject literally brings into question the human thread that binds our social fabric together...
Mish's Global Economic Trend Analysis Wed 2009-08-26 16:00 EDT
Last week the Wall Street Journal ran an article about how trust securities sank Guaranty Financial Group and six family-controlled Illinois banks in early July. Please consider In New Phase of Crisis, Securities Sink Banks. Federal officials on Thursday were poised to seize Guaranty Financial Group Inc., in what would be the 10th-largest bank failure in U.S. history. Guaranty's woes were caused by its investment portfolio, stuffed with deteriorating securities created from pools of mortgages originated by some of the nation's worst lenders. Delinquency rates on the holdings have soared as high as 40%, forcing write-downs last month that consumed all of the bank's capital. Guaranty is one of thousands of banks that invested in such securities, which were often highly rated but ultimately hinged on the health of... Security losses are a non-operating item and are listed after pre-tax operating income on the call report. This is very unusual and possibly reveals another cancer hiding on many banks balance sheets. those garbage trust-preferred securities problems are on top of the widely expected fallout from commercial real estate problems affecting small to medium-sized regional banks. Thus, banking woes are much deeper in many areas than either the FDIC or Fed is admitting.
Capitalized Banks Direct Result; Criticizes; Mish's Global Economic Trend Analysis; Stupid; Wonderful Chain.
Tue 2007-11-20 00:00 EST
Subprime fallout: Preparing for the next financial crisis, by Stephen Cecchetti; standardize securities, encourage exchange-based trading
commentary; Europe's leading economists; Financial Crisis; prepared; research-based policy analysis; subprime fallout; Vox.
