Archive for May 23rd, 2009

A Warning We Should Have Heeded

Nice article in the Telegraph about Brooksley Born who tried and failed to get former President Clinton to regulate derivatives. Admirably independent, Born issued warnings about the systemic dangers posed by America’s vast and entirely unregulated “over-the-counter” derivatives market. Worth some $600,000bn (£375,000bn) today, having grown 20-fold since Born first raised the alarm, there is [...]

Share

Housing Markets On Fire: Can Anyone Tell Me What It Means

Does this mean the housing market has bottomed, the recession is over, we’re reverting to the status quo ante and there will be no “new” normal.  The New York Times has an article today on the real estate frenzy that, were it not for the use of the word foreclosure, reads as if it were [...]

Share

The FDIC’s Bank Deregulation Play

More often than not major shifts in public policy arise not from great debate in the halls of Congress but through the actions of some part of the vast bureaucracy of the United States government. The decision by Sheila Bair and the FDIC to sell Bank United of Florida to a consortium of private equity [...]

Share

The Edmund Andrews Soap Opera

Sometimes I think that the blogosphere is filled with nothing but creeps. Tonight is one of those times. You may recall that I put up a link to a story by Edmund Andrews, a writer for the NY Times, that describes his descent into foreclosure hell. It was a good story, told without venom and [...]

Share