“a ‘thing’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price.” Editor’s Note: Think about it. The foundation of the supply of money that was pressure pumped into our economic housing system resulted in inflation of home appraisals. It was so large that everyone thought the […]

Tags: ABX, appraisers, Fabrice "Fabulous Fab" Tourre, foreclosure sale, free house, Goldman Sachs, Great Depression, Gregory White, rating agencies, Scandals, SEC, Times of London., Tourre, Wall Street
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

NY Times: “When you buy protection against an event that you have a hand in causing, you are buying fire insurance on someone else’s house and then committing arson.” Mr. Lippmann made his pitch to select hedge fund clients, arguing they should short the mortgage market. He sometimes distributed a T-shirt that read “I’m Short […]

Tags: Abacus, ABX, ABX Index, credit default swaps, Dealogic, Deutsch Bank, Egol, Fabrice Tourre, Geithner, Goldman, Greg Lippman, Hudson Mezzanine, I'm short your house, International Swaps and Derivatives Association, James E. McKee, Lewis Sachs, Magnetar, Mariner Investment Group, Michael Barnes, Michael DuVally, Morgan Stanley, Paulson and Company, Pay as You Go, R & R consulting, Securities and Exchange Commission, Soros Fund Management, Standard & Poor's, Sylvain R. Raynes, TABS deals, Tetsuya Ishikawa, Tricadia, UBS
Posted in bubble, Corruption, Eviction, securities fraud |