All eyes are upon the impressively-bouffanted Chris Dodd, as the lame-duck Senator unfurls his version of financial reform today. Dodd, who has in the past said such unflattering things about the Fed as “abysmal failure” and “smells like cheese,” is seeking to make amends with a belated Valentine’s Day present that rewards past absymal failure [...]
Entries from March 15th, 2010
Dodd And Bernanke Need To Get A Room
March 15th, 2010 · 6 Comments · all ur bankz, bernanke, regulatin
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Weekend Links And POLL: A Tidy Cell For Dick Fuld?
March 13th, 2010 · 2 Comments · lehman brothers, links
Charlie Gasparino writes this weekend on why, despite the obvious shiftiness in the recent report on why Lehman Brothers failed, Dick Fuld will never have the shadow of the bars of a prison cell cast upon his face. Poll: Hickory, Dick-ory…answers I won’t bother asking if you think there will be jail for Geithner, as [...]
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Yellen About ZIRP
March 13th, 2010 · No Comments · zirp
As you probably know, there’s a vacancy at the Fed in the vice chair position. A frontrunner has emerged – Janet Yellen, currently at the SF Fed branch and a big fan of the ZIRPstravaganza: Appointing Yellen, 63, who was unavailable for comment Friday, would reinforce Fed Chairman Ben S. Bernanke’s policy of keeping interest [...]
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Lehman Faked It, Timmay Knew It, That Settles It?
March 12th, 2010 · 11 Comments · lehman brothers, Timmay
There is a massive, 2,200 page tome that was released yesterday that goes into excruciating detail as to why Lehman failed. Anton Valukas, the examiner, assuredly had a lot to work with. We weren’t quite expecting an encyclopedia, but we guess we shouldn’t be surprised either. And what did he find? Bad mortgages? Sure, of [...]
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BankFailFriday Gets An Early Start
March 11th, 2010 · No Comments · fail
FDIC shuts down another bank, ships its deposits to Jersey. LibertyPointe was ordered to cease and desist with the excessively risky lending back in August, but, as is typical, regulators stepped in way too late to stop the bank from eventually boarding the failboat. (LP’s nonaccruing loans were about 3x its loss reserves at that [...]
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