dimelab dimelab: shrinking the gap between talk and action.

mortgage crisis Topic in The Credit Debacle Catalog

America's sub-prime mortgage crisis (1); subprime mortgage crisis (1).

Thu 2010-09-23 09:33 EDT

Bob Rubin Just Wants to Be Cuddled

[2010-04-29]...It's October 2007. I've just finished my morning jog on beautiful, sun-drenched Miami Beach and I'm getting a smoothie and a pastry at my usual place, Epicure Market. The subprime mortgage crisis is heading into full-swing mode; Jim Cramer had just done his crazy thing on TV, and you can feel the sky starting to fall all around you -- and that's a literal thing in Miami, where the cranes stopped on a lot of half-finished skyscrapers, the type where a few years back you'd hear about people flipping condos three times before the project even broke ground. (If there's ever a time that I don't regret leaving finance, it's now.) Anyway, I'm in line for the checkout, and a very familiar looking guy gets in line behind me. It's one of those situations where I'm not sure if I eyed him or he eyed me first, but I noticed him shortly when I turned to the left to swipe my debit card. He was standing right behind me in the checkout line - only a few feet away. He looked very familiar and famous, and while that's no rarity in Miami, it is when you realize it's because the guy looks like the former Treasury Secretary -- but maybe no, he's maybe not tall enough? -- and then somehow you finally just blurt out, "Hey, you look just like Bob Rubin!"...

Bob Rubin Just Wants; cuddling.

The Guardian World News Mon 2009-10-12 10:02 EDT

Ex-Wall Street financiers face criminal action

Former Bear Stearns hedge fund manager Matthew Tannin's private jottings show concerns about 'blow up risk' to investors...Tannin and his boss, Ralph Cioffi, ran two funds holding $1.4bn of clients' funds that collapsed in July 2007, an event widely viewed as the first clear signal of America's sub-prime mortgage crisis and the global credit crunch. The meltdown of these funds sparked a chain of events that contributed to the demise of Bear Stearns, an 85-year-old Wall Street institution, in early 2008. They have been charged by US prosecutors with defrauding customers by hiding the true condition of investments as prospects steadily darkened.

Ex-Wall Street financiers face criminal action; Guardian World News.

Tue 2009-02-24 00:00 EST

Jesse's Café Américain: How to Resolve the Mortgage Crisis

Jesse's Café Américain: How to Resolve the Mortgage Crisis; Chris Whalen, The Institutional Risk Analyst

Jesse's Café Américain; mortgage crisis; resolved.

Thu 2008-07-10 00:00 EDT

AlterNet: 'Foreclosure Phil' Gramm: How John McCain's Closest Economic Advisor Helped Engineer the Morgage Crisis

AlterNet: 'Forclosure Phil' Gramm: How John McCain's Closest Economic Advisor Helped Engineer the Mortgage Crisis; Nomi Prins and David Corn

AlterNet; Foreclosure Phil; Gramm; John McCain's Closest Economic Advisor Helped Engineer; Morgage Crisis.