First of all I don’t think Geithner caused the financial crisis. He certainly contributed to it but it probably would have happened even if he had not undercut Sheila Bair at every opportunity; and yes he should have listened to other people who were saying that the corruption on Wall Street had reached epic proportions. […]

Tags: Barack Obama, George W Bush, GRETCHEN MORGENSON, Hank Paulson, JOE NOCERA, New York Times, Sheila Bair, Timothy F. Geithner
Posted in Uncategorized |

“The Justice Department claims that the faulty projections were not simply naïveté, but rather a deliberate effort to produce inflated, fraudulent ratings. “The complaint asserts that S.& P. staff chose not to update computer programs because the changes would have led to harsher ratings, and a potential loss of business,” (e.s.) “I was there. It […]

Tags: AGGREGATOR, Ben Bernanke, financial analysis, Fitch, Hank Paulson, MasterCard, nominees, Ponzi, rating agencies, REMIC, S&P, securities analysis, securitization, SWIFT, trustee, Visa
Posted in bubble, Corruption, Eviction, securities fraud |