Entries by DailyBail (6219)
Jul 29, 2009 at 12:05 PMElizabeth Warren Explains What Went Wrong With Financial De-Regulation (Congressional Oversight Panel Clip)
Dr. Warren introduces the COP report on financial regulatory reform. This short video is an outstanding primer on the history of financial regulation and 3 particular failures that led to our current crisis. Extremely interesting presentation.
Bernanke On The Record (Bonus Coverage PBS Jim Lehrer)
Three shorter, excerpted clips from the complete town hall interview available here.
Complete Interview And Town Hall Meeting With Federal Reserve Chairman Ben Bernanke (3 Clips PBS Jim Lehrer)
Bernanke On The Record With Jim Lehrer (parts 1, 2 and 3). Extraordinary discussion.
PGA Tour Player Leif Olsen Hits Bank Shot Hole In One (Clip)
Long-time readers know that I'm a golfer which explains the following 41 seconds of entertainment. Over the weekend at the RBC Canadian Open, Leif Olsen won this red BMW convertible with this extremely unlikely hole in one.
See The 'Minority Report' Future With MIT's Media Lab (Clip)
The team at MIT's Media Lab takes us one step closer to living in Minority Report by creating a finger-controlled, internet device, phone/3-D projector that will work on any surface, including your hand. The action begins around the 2-minute mark, though the introduction is worthwhile.
Cody Willard: The Day Our Nation Died (Clip)
Willard Attacks the Democrat-Republican Machine
FBN's Cody Willard appropriately loses his mind and declares that Capitalism has died and Fascism prevails. You will hear quickly that this is not a single shot at Obama, rather an attack on the Bush-Paulson-Obama-Geithner Doctrine of bailing out friends and allowing one's enemies to wither (witness Lehman). Willard has been consistent with his bi-partisan blame and antipathy, and he skewers both Republicans and Democrats in this clip, which we endorse and have been doing ourselves since the day we launched The Daily Bail.
It's short and comical though Willard wasn't laughing. Submit your questions for an interview I'm doing with Cody later this week. The topic is wide open so offer up some thoughts and I'll work them into the mix.
Ratigan: Who's To Blame For The Housing Bubble? (Video)
This clip is another excellent discussion from last week. Skip Contessa Brewer and start after the 2 minute mark. Ratigan starts to hit his groove in the 2nd half:
"A fraudulent flow of money perpetrated by hollow credit insurance that then jacks a mature asset's price up only to leave construction workers stuck in the street and a bunch of bankers with a few billion dollars."
Wall Street Prison Coach Has Some Advice For Madoff (Ratigan Clip)
Larry Levine of Wall Street Prison Consultants discusses Bernie Madoff, and what he might face in prison. It's actually a serious discussion with some interesting commentary from Levine, though given the context I couldn't help laughing through most of it.
Lemonides: Regional Banks Were Decimated By The Non-Bailout Of Fannie & Freddie Preferreds (Video)
As long as we're discussing Phoney & Fraudie this morning, I'm adding this clip of Charles Lemonides from TechTicker. Lemonides' thesis is the bailouts of the mortgage giants were important and necessary, and that the decision not to stand behind the preferred shares of both firms worsened the banking crisis.
I agree but I have little sympathy.
- We had no choice but to honor the debt of both GSEs. China and Japan gave us no other option, and we need them to continue funding our never-ending profligacy.
- The regional banks loaded down with Fannie & Freddie preferred shares deserve their fate. It's fitting punishment for their lack of investment stewardship. These shares should have been jettisoned from their portfolios the day after Bear Stearns failed (and really much sooner had they been paying attention.). Stupid should not be an acceptable excuse.
Max Keiser Says Hank Paulson Has Become The Augusto Pinochet Of Modern Capitalism (Goldman Sachs Criminal Comedy)
Max Keiser says Hank Paulson has become the Augusto Pinochet of modern capitalism and that Goldman should be dragged in front of the World Court to answer charges of Human Rights Abuse. Despite his penchant for hyperbole, Keiser is freaking hilarious. You will enjoy this.
Housing Market's False Hope With Robert Shiller (CNN Clip)
A quick update from housing guru Robert Shiller: no bounce in sight, further declines ahead.
Bailouts Of Phoney & Fraudie Will Eventually Cost Taxpayers $200 Billion Per Firm
Chris Isidore from CNN Money published a well-researched update on the bailout black holes of Fannie & Freddie last week, and the outlook for taxpayers is not especially positive. Mortgage analyst for KBW, Bose George, estimates that by the end of 2010, the bailout tally could hit the $200 billion mark for each of the mortgage giants.