Archive for the ‘Polticial Decisions Affecting Banking’ Category
Saturday, August 16th, 2008
Evan Newmark points out (WSJ, Aug 15, 2008) the fundamental facts of Fannie Mae and Freddie Mac’s (henceforth F&F) existence. None of them are news but his conclusion, that F&F should be closed, is news of a sort. I have not seen this conclusion before in the popular press, although ...
Posted in The Banking Crisis, Federal Housing Agencies, Polticial Decisions Affecting Banking, When Regulation Goes Wrong | No Comments »
Sunday, August 10th, 2008
It is not the intent of this article to explain exactly what banks are doing to mislead investors with regard to the sale of auction-rate municipal securities. That is the trap into which most articles on the subject fall, and since confusing the public is the purpose of every significant ...
Posted in Games Bankers Play, The Banking Crisis, Bank Management, Polticial Decisions Affecting Banking | No Comments »
Friday, August 8th, 2008
We need to take an honest look at our financial system and a more pragmatic assessment of the possibility of putting it “back on its feet.” It is clear that the time when that was possible is gone. Our latest attempt was last week’s “Housing and Economic Recovery Act.” This ...
Posted in Creative Accounting, Bank Management, Polticial Decisions Affecting Banking | No Comments »
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 »