Archive for July, 2008
Tuesday, July 22nd, 2008
A reader asked me the other day when Freddie and Fanny were created. I knew the answer was that rarest of events, something that happened before my time. God created the earthquake, so I thought it might have been on the third day of all time or something. So I ...
Posted in Creative Accounting, The Banking Crisis, Federal Housing Agencies | No Comments »
Sunday, July 20th, 2008
I am so sick of having it explained to me that Freddie Mac and Fannie Mae are too big to fail. There are two aspects of this little tale that make me nauseous.
First, the reason Fannie and Freddie got this big is itself criminal (before you sue, Federal Reserve, I ...
Posted in Bank Management, Federal Housing Agencies, Polticial Decisions Affecting Banking | No Comments »
Wednesday, July 16th, 2008
In the 21st Century there have been four archetypical ways of making a living as a bank.
First there has been the way with which we have become most familiar since the crisis. Find the best scam the bank regulators are passing out and push it to the max. This was ...
Posted in Australia, The Banking Crisis, Bank Management | No Comments »
Wednesday, July 16th, 2008
The Credit Crisis seems to be approaching its nadir, although it is clear that we will lose several more banks, perhaps many of the smaller “me too” banks, before this experience is over. We seem to be moving into a phase that happens in every crisis from war to basketball. ...
Posted in leadership, Markets and Regulation, Federal Housing Agencies, When Regulation Goes Wrong | No Comments »