This Sunday, New York Times Magazine is publishing a story titled: HEADING OFF THE NEXT FINANCIAL CRISIS (Hat tip Mike Allen at Politico). In the piece New York Times economics columnist David Leonhardt looks at the idea of preventing the next financial crisis, or at least making it less damaging. He includes a conversation he [...]
Federal Home Loan Bank sues Wall Street claiming Goldman, others failed to disclose liars’ loans mainly used by liars. Sure, liars’ loans were bank fraud and everybody involved should go to jail.Â
But the way the securitization process worked, it was the folks at the top of the food chain, in this case the Federal Home [...]
It was a disappointing but not surprising piece in the NYT today from the man we still regard as the greatest Fed Chairman in history. Paul Volcker’s long and rambling commentary re-states one inoffensive but irrelevant reform proposal and another that would perpetuate the worst in the current system.
The small but irrelevant proposal is to [...]
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// Read Andrew Redleaf’s Profile in The New York Times:Â
“’Sometime in the next 12 to 18 months, there is going to be a panic in credit markets,’ Andy Redleaf, a 50-year-old hedge fund manager, wrote to investors in December [2006]. ‘The driver in the credit market panic of 2007 or 2008 will be a sudden…loss [...]
