Last night I watch Bill Moyers Journal via the internet. The first piece interviewed David Simom, creator of “The Wire.” His realistic view of the quagmire of drugs/ghettos/crime/corruption had such a ring of Knowing that I found myself nodding and shaking my head again and again. If you are a “Wire” fan, as I am, [...]
Entries Tagged as 'Mortgages'
The Sad State of Our Country
October 12th, 2009 · No Comments · Bailout, Banks, Corporate Power, Credit Default Swaps, Federal Reserve, Mortgages, Obama, Policy, Politics, Restructuring, Stock Market, Taxpayers, Treasury, Video, Wall Street
Tags:
Hedge Funds Betting on Housing Collapse May Get AIG Cash
March 18th, 2009 · No Comments · Bailout, Banks, Bonds, Credit Default Swaps, Debt, Default, Economics, Federal Reserve, Financial, Global Economy, Housing, Interest rates, Mortgages, Policy, Regulation, Stock Market
The Wall Street Journal has an article that describes in some detail how hedge funds and Goldman Sachs bet on the collapse in the US housing market using hundreds of billions of dollars of credit default swaps, swaps that eventually were bought by AIG for pennies per year. In the event, when the housing market [...]
Tags:
The Mortgage Crisis Explained Simply — and Crudely
February 20th, 2009 · No Comments · Bailout, Banks, Financial, Mortgages, Wall Street
Here is a PowerPoint slide presentation that explains how the mortgage meltdown got set up and how the banks that sold the toxic assets kept the public in the dark — but then got caught in their own mess. (Thanks to reader Bill Taylor).
This presentation is amusing but don’t let the black humor mislead you. [...]
Tags: