January 2011
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“Excluding Japan, which remains mired in seemingly chronic deflation, Asian...”
– Stephen S. Roach in Asia’s Inflation Trap by Stephen S. Roach - Project Syndicate
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“The banking crisis should have taught Obama that the “free market” is not...”
– Bill Black in What Is President Obama’s Sputnik Moment and What Is His Apollo Response? | The Big Picture
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“Having just gimmicked the accounting rules to achieve their goals of covering up...”
– William K. Black in Why our Fundamental Approach to Banking Regulation is Inherently Unsound
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“Commodity prices are unquestionably going up and the prices we pay for many...”
– Peter Bookvar in We don’t need US wage inflation to have a problem | The Big Picture
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“The truly creative part is these documents include an assignment of mortgage...”
– Yves Smith in US Bankruptcy Trustee Takes Interest in “Ta Dah” Documents Mysteriously Appearing in Foreclosures (aka Probable Fabrications) « naked capitalism
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“Goldman Sachs collected $2.9 billion from the American International Group as...”
– Shahien Nasiripour in Goldman Sachs Got Billions From AIG For Its Own Account, Crisis Panel Finds
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“What the regulators have not taken into account is a series of means of gaming...”
– William K. Black in Why our Fundamental Approach to Banking Regulation is Inherently Unsound
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“I can understand that someone who has managed to capture a privileged economic...”
– Dr. Alison Snow Jones, aka Maxine Udall, Girl Economist, in ‘Tis the Season… - Maxine Udall (girl economist)
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“Banks bailed out by the taxpayer have paid bonuses totalling €45m since being...”
– Ailish O’Hara in BoI admits it paid millions in bonuses since bank guarantee - Irish, Business - Independent.ie
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“Our current approach to banking regulation exposes us to recurrent, intensifying...”
– William K. Black in Why our Fundamental Approach to Banking Regulation is Inherently Unsound
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“Thus, for the emerging economies, advanced countries downside risks and the...”
– Five Steps Forward in 2011 by Michael Spence - Project Syndicate
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“So this is a message to bankers and anyone else who at least putatively cares...”
– Dr. Alison Snow Jones, aka Maxine Udall, Girl Economist, in The Death of Capitalism? - Maxine Udall (girl economist)
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“So, I think this means that an individual investor can sue the trustees over the...”
– Georgetown law professor Adam Levitin, quoted by Yves Smith in More Reasons Why Banks Should Worry About Ibanez Decision « naked capitalism
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“The fundamental disconnect with making capital requirements the pillar of...”
– William K. Black in Why our Fundamental Approach to Banking Regulation is Inherently Unsound
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“Fitch became the third rating agency to cut Greek debt to junk, highlighting...”
– Fitch cuts Greek debt to junk - The Irish Times - Fri, Jan 14, 2011
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“In other words, some of last quarter’s $4.8 billion in earnings should have...”
– Yves Smith inShould We Believe Jamie Dimon’s Crocodile Tears Over How Much Mortgages Have Cost Banks? « naked capitalism
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“The crisis was the result of human action and inaction, not of Mother Nature or...”
– Report of the Financial Crisis Inquiry Commission, quoted by Sewell Chan in Financial Crisis Was Avoidable, Inquiry Concludes - NYTimes.com
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“Police in Iceland have arrested the former boss of failed bank Landsbanki and...”
– BBC News - Landsbanki executives arrested in Iceland
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US banks reporting phantom income on $1.4 trillion... →
jakke:
They are allowed to accrue interest on non-performing mortgages until the actual foreclosure takes place, which on average takes about 16 months.
All the phantom interest that is not actually collected is booked as income until the actual act of foreclosure. As a result, many bank financial statements actually look much better than they actually are. At foreclosure all the phantom...
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“MGM’s CityCenter Holdings LLC joint venture issued $600 million of notes that...”
– Bloomberg: Junk Borrowers Turn Tables With Looser Terms
It’s January 1990. And a rose by another other name would smell as sweet as Drexel Burnham Lambert’s. Trouble is, the vases are stuffed.
(via correlationstonone)
Groklaw - How Not to Get Snookered by Claims of... →
booklover206:
more than you ever wanted to know about source code and copyright, yet a well written and interesting article.
read it
I've figured out how to use the tumblr queue
booklover206:
And I will share it with all of you:
Place a post in the queue
several hours later check on the queue
Compare the time the item is supposed to post with the current time
For example if the item says “Sunday 10:05am” and it’s now 12:22pm
If current time is later than publish time, press the button marked “publish”
Repeat on a regular schedule
By following these steps you can...
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“So her view is that lawyers do not have the responsibility to check the claims...”
– Robert Waldmann in Pay no attention to the man behind the curtain. | Angry Bear
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“When I worked for an economics department, I quickly learned what a lame...”
– Eric Falkenstein, quoted by Cardiff Garcia in FT Alphaville » Economic forecasting delusions
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“Twitter and other companies, notably Google, have a policy of notifying a user...”
– Ryan Singer in Twitter’s Response to WikiLeaks Subpoena Should Be the Industry Standard | Threat Level | Wired.com
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“So the corollary of the Goldman uncertainty principle is: make anything so...”
– Yves Smith in The Goldman Uncertainty Principle of Securities Regulation « naked capitalism
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“Events since the announcement of the bailout package in early 2010 have been...”
– Satyajit Das: European Death Spiral – End Games « naked capitalism
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“This is a horror story: it shows the cataclysmic condition of the Irish banking...”
– Tim Congdon from International Monetary Research, quoted by Ambrose Evans-Pritchard in Irish lenders besiege central bank for emergency loans - Telegraph
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“This is priceless. Diamond wants the “issue”, meaning the controversy, over...”
– Yves Smith in Barclays’ Bob Diamond to Non-Bankers: Drop Dead « naked capitalism
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“There was a period of remorse and apology; that period needs to be over. We need...”
– Barclay’s CEO Bob Diamond, quoted by Sharlene Goff and George Parker in FT.com / UK / Business - Party leaders clash over bonuses
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“The debate during prime minister’s questions followed a defiant performance by...”
– Sharlene Goff and George Parker in FT.com / UK / Business - Party leaders clash over bonuses
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“Goldman sees that securities regs operate in the world of Schrodinger’s cat,...”
– Yves Smith in The Goldman Uncertainty Principle of Securities Regulation « naked capitalism
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“First, we have learned from this crisis, even though the rating agencies may...”
– Barry Ritholtz in European Commission: The U.S. is Worse | The Big Picture
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“First, we have learned from this crisis, even though the rating agencies may...”
– Barry Ritholtz in European Commission: The U.S. is Worse | The Big Picture
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“Chinese regulators last month increased the number of exporters that can use the...”
– Lingling Wei in New Move to Make Yuan a Global Currency - WSJ.com
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“Chinese regulators last month increased the number of exporters that can use the...”
– Lingling Wei in New Move to Make Yuan a Global Currency - WSJ.com
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“As the OECD notes, the economic impact of convergence is broader than just this....”
– Martin Wolf in FT.com / Comment - East and west converge on a problem
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“As the OECD notes, the economic impact of convergence is broader than just this....”
– Martin Wolf in FT.com / Comment - East and west converge on a problem
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“I concur fully in the opinion of the court, and write separately only to...”
– Justice Robert Cordy in his concurring opinion in U.S. Bank National Association, trustee vs Antoinio Ibanez (pdf)
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“I concur fully in the opinion of the court, and write separately only to...”
– Justice Robert Cordy in his concurring opinion in U.S. Bank National Association, trustee vs Antoinio Ibanez (pdf)
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“Based on the documents in the record, neither GMAC nor Deutsche Bank have...”
– Tracy Hope Davis, the United States Trustee for Region 2, quoted by Yves Smith in US Trustee Sides With Borrowers in Foreclosures With Questionable Assignments, MERS « naked capitalism
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“Based on the documents in the record, neither GMAC nor Deutsche Bank have...”
– Tracy Hope Davis, the United States Trustee for Region 2, quoted by Yves Smith in US Trustee Sides With Borrowers in Foreclosures With Questionable Assignments, MERS « naked capitalism
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“Washington may have been only an “enabler” in the run-up to the last...”
– Suzanne McGee in Wall Street Banks Sow Seeds Of Next Crisis As Financial Reform Falls Short - Industry News - Portfolio.com