AIG gets in trouble–what about everything else?

I caught this article about AIG while perusing headlines the other day. What a good point it makes—what such a comparatively prolonged fuse about AIG execs and their bonuses? Aren’t there more important and impactful things to worry about and to rekindle our economy? I don’t mean say the crazy bonuses to AIG execs are [...]

The Newest Piece of the Puzzle: PPIP

So, we all remember the government’s implementation of TARP last October. The concern after that, however, was how the government was specifically going to handle the relief of these bad assets rather than simply pumping money into financial institutions. I remembered wondering and being concerned with this as well, and just this past Monday, Treasury [...]

Freddie Mac what happened?

Would our current economic state be any different if banks had not been handing out mortgages like candy during the Fourth of July parade? It is nothing new to the American people to hear that the mortgage industry is a huge factor in our current economy downward spiral. But would things have been different if [...]

Daily Show Evisecerates Financial Reporting on TV News

The Daily Show once again proves its worth in video editing skills.  This reminds me of Enron and the analysts. See vod pod video below. Or click here.

A Penny for Your Thoughts

According to the New York Times, the former president of CountryWide Financial, Stanford L. Kurland, is back in the loan business, but this time seemingly profiting off of his screwups. CountryWide Financial (yes, I know Wikipedia) was one of the largest lenders of U.S. mortgages. Many of its loans were to high risk home owners [...]

When the wind blows, the house of cards will fall

Regulators say Mr. Madoff himself estimated that $50 billion in personal and institutional wealth from around the world was gone…… Even though Enron was a legitimate business, its finances were all a scam. Many of its financial workarounds were legal, but all had the intention to make assets appear on the balance sheet or debt [...]

Boo! A bear! And it’s not Halloween

Please don’t kill the messenger. h/t: Calculated Risk

I Guess It’s Your Fault

What happeend to our economy?  Why are we in a recession and facing massive structural problems in the financial sector?  If Wall Street is mortally wounded, or already six feet under, who has blood on her hands? I guess it is you…at least according to the American Enterprise Institute’s Kevin Hassett. When Wall Street was [...]