Tuesday
Nov292011
How Hank Paulson Warned Hedge Funds In Advance
Very interesting new read from the January edition of Bloomberg Magazine. Anyone else find it suspicious how many at the meeting were former Goldman executives.
Nov 29, 2011 at 2:36 PM
Monday
Nov282011
MUST SEE - Bernanke's Stealth Bailout For Wall Street Kept Secret From Congress
Runs 3 minutes.
The comments from Barney Frank and Judd Gregg are telling. Bernanke runs his own private dictatorship. You'll be glad to know that Fear Mongering 101 is alive and well, and has not been removed from the Winter Term Selection Guide at your local university.
Monday
Nov282011
Wednesday
Nov162011
Wednesday
Nov162011
Dr. Russ Roberts: "I Want My Country Back!"
Video - George Mason University Economics Professor Dr. Russ Roberts
Transcript inside.
Tuesday
Nov152011
BP: Still Not As Evil As Goldman Sachs (Brand Index)
Quick Flashback
BP is diving and getting close, but the blood-sucking vampire squid from Goldman Sachs are still viewed more negatively than any other American brand. Take that Blankfein.
Friday
Nov112011
Michael Lewis: Beware of Greeks Bearing Bonds
Michael Lewis' recommended lead piece for the October 2010 issue of Vanity Fair. Greece has no chance of avoiding default which will annihilate European banks holding Greek debt. But that has nothing to do with this story, a tale of monks, Fathers Arsenios and Ephraim, and a real-estate swindle that brought down the government.
Friday
Nov112011
$1.4 MILLION PER PAGE: How Ireland Paid Merrill Lynch For "Advice" That Bankrupted A Nation
Ireland's Finance Minister, Brian Lenihan learned banking and finance at the kitchen table, two days after Lehman failed. All he knew when he first sat down was that Alan Greenspan was God.
Friday
Nov112011
'A Million In Bonus For A Billion In Toxic Assets': How a Handful of Merrill Lynch Bankers Blew Up Their Own Firm
Stan O'Neal, CEO of Merrill Lynch in 2006, watches yachts instead of risk.
New investigative piece from ProPublica. Arrogance, corruption and insanity.
Friday
Nov112011
Wednesday
Nov092011
Fannie Mae Taps Treasury For $8 Billion More, Bailout Grows To $112 Billion
WASHINGTON, Nov 8 (Reuters) - Fannie Mae , the biggest source of money for U.S. home loans, on Tuesday said it needed a further $7.8 billion in federal aid to stay afloat as a shaky housing market widened its third-quarter loss to $5.1 billion.
The government-controlled firm also attributed the deeper cash drain to losses on derivatives used to hedge its exposure to interest-rate swings and on expenses related to home loans made prior to the 2008 financial collapse. In the year-earlier quarter it had a loss of a $1.3 billion.
Fannie Mae has now drawn $112.6 billion in bailout funds from the Treasury Department since being seized by the government in 2008 as mortgage losses mounted.