Stanford Financial Ponzi Scheme – New Fraud, Old Lessons
Stanford Free – Does Crime Pay? On February 17, 2009 Stanford Financial was accused by the SEC of defrauding investors and engaging in a “massive, ongoing fraud”. The fraud was perpetrated by seducing investors with “improbable if [...]
Regulatory Reform Implies Cause and Solution To Financial Meltdown The Same
The Federal Reserve failed miserably in preventing the meltdown of the American financial system. Worse yet, the Fed’s loose credit and monetary policies and failure to properly regulate the financial system was arguably one of the biggest [...]
TARP 2 – Will Bad Loans Wipe Out Newly Raised Bank Capital?
Are The Banks Paying Back TARP Money Too Soon? Since the beginning of the year, major banks have raised over $200 billion in capital, far in excess of the $75 billion of new capital that the government [...]
Obama – 40 more years!
For all of those worried about tax increases, slow economic growth and rapidly expanding deficits, I have one word – relax. Consider the following comments made by the President today. Obama Says Robust Growth Will Prevent Tax [...]
The Cost Of Easy Money – $14 Trillion and Counting
Supervisory Insights – Where The Money Went The FDIC released their Supervisory Insights report today which contains a detailed breakdown of the almost $14 trillion dollars committed by the Government to support the financial system over the [...]
Tracking the Economy Through Coin Production
One of the consequences of a recession is a decline in demand for newly minted coins. Economic activity declines and there is less demand for coins in commerce. Individuals also put long hoarded change back into circulation. [...]
Fiscal Discipline – Endorsed By All, Practiced By None
Has anyone noticed the correlation of “fiscal discipline” chatter to rising interest rates? Efforts by the Fed to manipulate rates lower through the outright purchases of treasuries and mortgage securities seem to be failing as the long [...]
Bonds Sell Off, Credit Ratings In Doubt & Mortgages ReDefault
Every day there are many great posts on the web. Here are some from the past week that merit a full read. The listing order is random. Ok, I’m Done With Being Nice Karl Denninger does not [...]
Geithner – “I am not a crook”
“Chinese assets are very safe” This remarkable assertion regarding the safety of US debt securities held by China was made by Timothy Geithner, US Treasury Secretary, during his visit to China. That Mr. Geithner felt compelled to [...]
