The reason for this requirement of transparency and the cutting edge of claiming or clawing back the illicit profits is simple: in a true fair and free market, the lender would know his risk and the borrower would understand the terms. Both would be on alert if unusual fees, profits and kickbacks were known to […]

Tags: AIG, Benmosche, Chartis, Federal reserve Bank of New York, fees, Goldman, investment banker, profits, Sanford C. Bernstein, securitization chain, Thomson reuters, TILA, Todd Bault, undisclosed, Walsh
Posted in bubble, Corruption, Eviction, securities fraud |

See NY Times Morgenstern Article on Goldman/AIG COnflict See GRAPHICAL TIMELINE OF GOLDMAN\’S STRATEGIC \”DEFAULTS\” Understandably this is a lot to take in so I invite you to pick up a copy of the New York Times, or go to the links above and study this article. First, I have excerpted what I think is […]

Tags: Abacus, AIG, Cassano, Egol, Federal reserve, Frost, Goldman, HOLDER, insurance, Maiden Lane, mortgage bonds, Robert Lewis, Sherwood, Siciete Generale, Sundarum, Viniar
Posted in bubble, Corruption, Eviction |

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 |