dimelab dimelab: shrinking the gap between talk and action.

inform Topic in The Credit Debacle Catalog

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Fri 2009-11-20 09:59 EST

Interfluidity :: Sympathy for the Treasury

On Monday, I was among a group of eight bloggers who attended a discussion with "senior Treasury officials" in Washington...Although the format of our meeting did not lend itself to forging deep relationships, I was flattered and grateful for the meeting and left with more sympathy for the people I spoke to than I came in with. In other words, I have been corrupted, a little...The most interesting aspect of the meeting was anthropological, getting a look at how senior Treasury officials behaved, how they interacted with us and what kind of a thing this was to them. It was a two hour meeting, but different groups of officials came at us in shifts, and stayed with us for 20 to 40 minutes. The tone of the meeting was open, earnest, and informal. But somehow, it never felt like we connected, like there was a lot of actual communication occurring.

Interfluidity; sympathy; Treasury.

Tue 2009-10-27 13:06 EDT

Courthouse News Service

Bank of America and Countrywide Home Loans destroyed mortgage documents, and "recreate" them by "insert(ing) data as they see fit," to cover up their own failure to keep records - or their fraud - according to a federal RICO class action. "To cover up the servicing mistakes and fraud and misrepresentation in the servicing of a consumer escrow, Defendants 'recreate' letters, insert data as they see fit, and fail to produce the entire HUD complaint form. This way, a consumer is left in the dark about the fraud that occurred to them," the complaint states. Lead plaintiff Kim Gorham says that when she sent a letter seeking information about her escrow account, she was informed that it had been "destroyed by a letter opener."

Courthouse News Service.

naked capitalism Sun 2009-10-11 17:06 EDT

Asian Countries Intervene to Prop Up Greenback (Dollar Bind Edition)

An unannounced but evidently coordinated effort to arrest or at least slow the fall of the dollar is underway. The Financial Times indicated that Asian central banks were aggressive dollar buyers on Thursday, but the information came via currency traders rather than an official pronouncement. Thailand, Malaysia and Taiwan made substantial purchases; Hong Kong and Singapore also intervened today. The action may also have a secondary objective of rejiggering their currency values versus China's, since China repegged the renminbi against the dollar...

Asian Countries Intervene; Dollar Bind Edition; greenback; naked capitalism; prop.

Jesse's Café Américain Thu 2009-09-17 09:39 EDT

"It has now become clear that this was no ordinary crash."

Here is an informative piece on the banking crisis in Iceland...in all banking collapses of this sort, fraud and duplicity are always at the heart of it, as larceny is in most great fortunes through history. Investigating Icelandic banking collapse, Icelandic economist Jon Danielsson believes the root of Iceland's problems that have now decimated its economy appear to have started when the government decided to privatize the banks in the early 1990s...the government had no understanding of the dangers of banks or how to supervise them. They got into the hands of people who took risks to the highest possible degree...Central banking IS an old boy's network. It is the best and biggest network of all. In this one, you actually get to print money...

becomes clear; Jesse's Café Américain; ordinary crash.

Bruce Krasting Fri 2009-09-04 19:21 EDT

Fannie's Trading Derivatives Hard, and Losing

It has been my contention that the Agencies were a factor in the bond market volatility in the past three months. Fannies 10Q has the following information regarding their derivative activity in the first six months of the year. As of June 30 FNM had a balance sheet of $900 billion. Against that position they bought and sold over the counter derivative contracts totaling $1.2 Trillion. On average $100 billion per day. There can be little doubt but that FNM has been adding to the volatility in the credit market. As luck would have it, the end result of all of this was a loss of $2.2billion.

Bruce Krasting; Fannie's Trading Derivatives Hard; Lose.

zero hedge Sun 2009-08-30 15:00 EDT

Was Morgan Stanley Compromised By Project Mayhem?

One of the key headlines these days has been the unmasking of what has been dubbed the biggest identity theft and credit card fraud case in history, allegedly spearheaded by one Albert Gonzalez, who in 2003 was involved in a comparable scheme however upon being caught, promptly became an informant for the Secret Service and turned over 30 of his hacking buddies. Six years later it is he this time who is in the hot seat, together with most of his associates, including one 25 year old Stephen Watt, who supposedly was the creator of the credit card sniffer software used to hack into over 130 million of various credit cards for merchants such as TJX, Dave And Busters and 7-Eleven, which numbers were subsequently sold for hefty sums...

Morgan Stanley Compromised; Project Mayhem; Zero Hedge.

Fri 2009-07-24 00:00 EDT

Freddie Pressured Over Accounting Disclosure

Freddie Mac disputes information disclosure suppressed by regulator Federal Housing Finance Agency (FHFA)

account disclosures; Freddie Pressured.

Tue 2009-02-24 00:00 EST

naked capitalism: Merrill Bonus Plot Thickens: BofA Was Informed

BofA; inform; Merrill Bonus Plot Thickens; naked capitalism.

Tue 2008-09-02 00:00 EDT

Information Arbitrage: Back to the Future: Are Banks Getting Religion?

Pricing loans based on cost of capital

bank; future; Information Arbitrage; religion.

Tue 2008-09-02 00:00 EDT

Information Arbitrage: Lehman: Following Good Bank/Bad Bank to Redemption

good-bank-bad-bank; Information Arbitrage; Lehman; redemption.

Wed 2008-07-23 00:00 EDT

The use of phrases and structured queries in information retrieval

by W. Bruce Croft, Howard R. Turtle, and David D. Lewis (1991)

information retrieving; Phrases; Structured Query; use.

Thu 2008-07-03 00:00 EDT

Information Arbitrage: Straight-talk on FAS 157: Blackstone and their Banker Buddies Have it Wrong

gap management; "Trading risk becomes liquidity risk when you can't trade...Do real stress-testing of liquidity scenarios and construct a capital structure that address much of the liquidity risk posed by non-standard assets...So why do risk managers and bank managements' so consistently make bad decisions? Probably because there is an over-reliance on measures that are seemingly quantifiable."

Banker Buddies; Blackstone; FAS 157; Information Arbitrage; straight-talking; wrong.

Mon 2008-06-23 00:00 EDT

Calculated Risk: More on Bear Stearns Indictment

"managers knew specific material information about the condition of the funds, and then provided false information to investors."

Bear Stearns Indictment; Calculated Risk.

Fri 2008-04-18 00:00 EDT

Jesse's Café Américain: Bankers Ask: Are the Bankers Rigging the Markets?

Jesse's Café Américain: Bankers Ask: Are the Bankers Rigging the Markets? "LIBOR rates might be 'fixed' by large global banks providing false information."

Bankers Ask; Bankers Rigging; Jesse's Café Américain; Market.

Mon 2007-12-10 00:00 EST

DealBreaker.com

We Regret To Inform You That This Is A Government Bailout; John Carney disses Paulson mortgage plan

com; Dealbreaker.

Fri 2005-05-13 00:00 EDT

Computer Economics: research on strategic and financial management of information systems

Open source users rate reduced vendor dependence most important in choosing open source.

Computational economics; financial Management; Information system; research; strategic.

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