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• Guess What: Banks' Christmas Bonus Was On You!

  —Dad29

  These are the people who Know What's Best. Remember that as they work to take over all of healthcare and the planetary climate.
  
  Officials managing the multibillion dollar bailout of insurance giant American International Group Inc. bungled the first rescue and may have overpaid other banks to wind [...]

  Posted: November 17, 2009, 6:44am EST
  

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• Bankers pocket billions while unemployment soars

  —mid coast views

  Number of comments: 0
  Maureen Dowd writes:
  
  Now we have two economies. We have recovering banks while we have 10-plus percent unemployment and 17.5 percent underemployment. The gross thing about the Wall Street of the last decade is how much its success was not shared with society.
  
  Goldmine Sachs, as it’s known, [...]

  Posted: November 11, 2009, 12:34pm EST
  by Michael Rosen

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• Ratings Agencies Reconsidered

  —Rhymes With Clown

  Number of comments: 1
  Among the storylines that seem widely accepted surrounding the financial crisis is one concerning the ratings agencies. These are the businesses that evaluate and assign grades to securites (e.g. AAA, AA, etc.).
  
  The standard narrative goes something like this: Investement banks like Goldman Sachs had a pile of mortgages [...]

  Posted: November 09, 2009, 8:43pm EST
  by Jeremy R. Shown

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• A Giant Sucking Sound

  —Brewtown Gumshoe

  Half of the $1.4 trillion in commercial real estate mortgages due in the next five years currently owe more than they're worth.
  
  We're not out of the woods yet. We should listen to Joe Stiglitz, nationalize bad banks, and get these toxic assets out of the system [...]

  Posted: November 07, 2009, 8:52am EST
  

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• We're lost, so keep on driving

  —Patrick McIlheran: Right On

  Megan McArdle on what happens when unemployment, at 10.2%, is way worse than predicted (as has been happening for months): “Counterintuitive prediction I heard last night: "If the jobs number is bad, stand by for Barney Frank to start dismantling some big banks." “Alternative predictions: this is good for the health care [...]

  Posted: November 06, 2009, 4:30pm EST
  

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• We're lost, so keep on driving

  —News and Opinion

  Megan McArdle on what happens when unemployment, at 10.2%, is way worse than predicted (as has been happening for months): “Counterintuitive prediction I heard last night: "If the jobs number is bad, stand by for Barney Frank to start dismantling some big banks." “Alternative predictions: this is good for the health care [...]

  Posted: November 06, 2009, 4:30pm EST
  

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• They Vote For Corzine Why????

  —silent E speaks

  Number of comments: 2
  

  A little background on Jon Corzine, incumbant democrat candidate for governor of New Jresey….

  Wikipedia

  Corzine began his career in banking and finance. In the early and mid 1970s, he worked for Midwestern banks (Continental-Illinois National Bank in Chicago, [...]

  Posted: November 03, 2009, 6:49pm EST
  by silent e

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• "The Banks Were Forced......" To Churn-and-Burn?

  —Dad29

  Frankly, I thought I was a cynic.
  
  As it turns out, I'm not even close.
  
  Most of the "exotic" loans being made during the housing boom were never intended to, on balance, be "paid as agreed" leading to a clean "fee simple" title on the property. An' [...]

  Posted: November 03, 2009, 9:11am EST
  

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• Today's elections, a referendum on President Obama?

  —Stepping Right Up!

  Are today's election a referendum on President Obama?I am kind of with Dana Milbanks on this today...it depends on who you ask.Of course, if you ask President Obama and the Democrats in NJ, they are trying to sell the idea that it is a referendum on President Bush.All of those [...]

  Posted: November 03, 2009, 6:24am EST
  

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• Another public option you're not supposed to hear about

  —Patrick McIlheran: Right On

  Hey, government takeovers aren't just for health care. National Review's Stephen Spruiell writes about the one taking place in college student lending. For years, the feds have subsidized student loans, paying the interest while a student is in college. The loans themselves are made out of money that banks and other' [...]

  Posted: October 30, 2009, 1:30pm EDT
  

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• Another public option you're not supposed to hear about

  —News and Opinion

  Hey, government takeovers aren't just for health care. National Review's Stephen Spruiell writes about the one taking place in college student lending. For years, the feds have subsidized student loans, paying the interest while a student is in college. The loans themselves are made out of money that banks and other' [...]

  Posted: October 30, 2009, 1:30pm EDT
  

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• KISS, Bank Version

  —Dad29

  As usual, Barry Ritholtz endorses common sense.
  
  • Federal Reserve should set monetary policy, not regulate banks.(They’ve demonstrated they are incompetent at the latter)
  
  • Treasury should over see taxing and spending policies, executing that via IRS, Mint, etc.
  
  • The FDIC, the entity in charge [...]

  Posted: October 30, 2009, 8:14am EDT
  

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• An anniversary banksters and T.Wall would do well to remember

  —One Wisconsin Now

  Today marks the 80th anniversary of “Black Tuesday”—the final, most catastrophic day of the 1929 Stock Market Crash. Except for Terrence Wall, everyone in America remembers this event as the primary trigger of the Great Depression. [...]

  Posted: October 29, 2009, 3:49pm EDT
  by Cody O

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• Burri: Bailouts, Banks, Health Care, and the Mob

  —FoxPolitics.net: Blogs

  So, giant financial institutions, are you glad you took the money now? NEW YORK -- The Obama administration plans to order companies that have received exceptionally large amounts of bailout money fro... [...]

  Posted: October 27, 2009, 11:00pm EDT
  

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• "We're the government. We know how much you should earn."

  —Letters in Bottles

  The Fed has decided to manage pay packages for bankers:
  The move, a response to the public outrage over the bailout of banks and other companies whose executives received lucrative paychecks, reflects a sharp departure from the hands-off approach that has dominated bank regulations for decades. In particular, pay packages [...]

  Posted: October 22, 2009, 2:54pm EDT
  

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• Pay Cuts at Bailed Out Banks

  —Rhymes With Clown

  Number of comments: 1
  NY Times:
  

  The plan, for the 25 top earners at seven companies that received exceptional help, will on average cut total compensation this year by about 50 percent. The companies are Citigroup, Bank of [...]

  Posted: October 21, 2009, 8:32pm EDT
  by Jeremy R. Shown

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• Insanity

  —Brewtown Gumshoe

  The inequality and injustice gaps widen.
  
  Update:
  At Rescued Banks, Perks Keep Rolling [...]

  Posted: October 20, 2009, 9:33pm EDT
  

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• Wall Street hucksters paid billion in bonuses

  —mid coast views

  Number of comments: 1
  New York Times Columnist Bob Herbert writes:
  
  We’ve spent the last few decades shoveling money at the rich like there was no tomorrow. We abandoned the poor, put an economic stranglehold on the middle class and all but bankrupted the federal government — while giving the banks and megacorporations [...]

  Posted: October 20, 2009, 7:32am EDT
  by Michael Rosen

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• The CDO/Mortgage Picture

  —Dad29

  Barry has the best graphic (it's a bit too large to post here.)
  
  Also the information that "securitized" mortgages are 5x more likely to be delinquent.
  
  Gee. Makes you wonder if the Banks knew something.........
  
  Naaah. They're the innocent ones......right?' [...]

  Posted: October 19, 2009, 10:52am EDT
  

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