Monthly Archives: September 2010

September 30, 2010

• Guest Post: “Revolving door” lobbyists – The value of political connections in Washington
  by Yves Smith 11:40 pm

• Satyajit Das: A CDO Cure for Europe?
  by Yves Smith 6:00 am

• Links 9/30/10
  by Yves Smith 5:34 am

• House Fires Shot Across China’s Bow
  by Yves Smith 5:34 am

• Fitch Considering Downgrading Servicers Over Affidavits
  by Yves Smith 3:34 am

• Meet GMAC’s Robo Signer Jeffrey Stephan
  by Yves Smith 3:06 am

September 29, 2010

• More Foreclosure Mess Updates: 20% of Florida Cases Have Problems, Including Phony Court Summons; JP Morgan ‘Fesses Up to GMAC Type Problems
  by Yves Smith 6:19 pm

• Links 9/29/10
  by Yves Smith 6:17 am

• Sorry Spectacle of Team Obama “Peace With Honor” With AIG
  by Yves Smith 5:37 am

• Financial Firms Hoist on ZIRP Petard
  by Yves Smith 3:36 am

• Japan Calls Out China on Rare Earths Ban
  by Yves Smith 12:05 am

September 28, 2010

• Guest Post: Government Response to Gulf Oil Spill Was “A Little Bit Like Custer Underestimating The Number Of Indians On The Other Side Of The Hill”
  by George Washington 9:17 pm

• Rating Agencies, The Subprime Blame Game, and Fishy FCIC Testimony
  by Yves Smith 3:33 pm

• Links 9/28/10
  by Yves Smith 6:29 am

• Bank of England Tells Old People to Eat Their Seed Corn, Um, Principal
  by Yves Smith 5:47 am

• Das on Eurozone Outlook
  by Yves Smith 1:53 am

September 27, 2010

• Wallace Turbeville: Report from the Frontlines – Mission Not Accomplished on Derivatives Reform
  by Yves Smith 8:52 pm

• Doubts About Eurobailouts Come to the Fore
  by Yves Smith 11:18 am

• Links 9/27/10
  by Yves Smith 7:02 am

• Auerback: Where is Huey Long When You Need Him?
  by Yves Smith 5:00 am

• Florida’s Kangaroo Foreclosure Courts: Judges Denying Due Process on Behalf of Banks
  by Yves Smith 4:50 am

• FUBAR Mortgage Behavior: Florida Banks Destroyed Notes; Others Never Transferred Them
  by Yves Smith 4:45 am

• Satyajit Das: Chinese Contradictions
  by Yves Smith 4:39 am

September 26, 2010

• Links 9/26/10
  by Yves Smith 5:18 am

• Why is There No Political Outlet for Anger on the Left These Days?
  by Yves Smith 4:37 am

• Tom Friedman Embraces the Electric Car 15 Years Late
  by Yves Smith 3:27 am

• Orwell Watch: “Structural Unemployment” As Excuse to Do Nothing
  by Yves Smith 2:32 am

• Happy Birthday Walter Breuning
  by Yves Smith 12:28 am

September 25, 2010

• Guest Post: Use of Corexit in 1978 Oil Spill Delayed Recovery by DECADES
  by George Washington 7:37 pm

• Links 9/25/10
  by Yves Smith 6:30 am

• Bank of America Collection Agency Harrassed Borrowers With Racist, Obscene Calls
  by Yves Smith 4:45 am

• On the Curious Timing and Content of Volcker’s Mislabeled “Blistering” Speech
  by Yves Smith 4:13 am

September 24, 2010

• GMAC Ordered to Stop All Foreclosures in California
  by Yves Smith 7:27 pm

• GMAC Told Freddie of Improper Affidavits Weeks Ago; Frank, Grayson, Brown Write “WTF” Letter
  by Yves Smith 5:08 pm

• Guest Post: BP Oil Well Is Dead … But What About the Nearby Seeps?
  by George Washington 1:54 pm

• Links 9/24/10
  by Yves Smith 7:07 am

• Improper GMAC Affidavits Leading to Charges of Document Fabrication to Change Title
  by Yves Smith 6:29 am

• Why Backstopping Repo is a Bad Idea
  by Yves Smith 4:54 am

• Inside Job: A Movie Wall Street is Sure to Hate
  by Yves Smith 3:12 am

September 23, 2010

• Goldman Sex Discrimination Lawsuit: Bad Habits Die Hard
  by Yves Smith 11:25 am

• Links 9/23/10
  by Yves Smith 6:40 am

• China Blocks Rare Earth Shipments to Japan
  by Yves Smith 6:33 am

• Lehman Black Hole Update: It’s Gotten Bigger!
  by Yves Smith 6:07 am

• Basel III vs Dodd-Frank on ratings agencies and risk weights
  by Richard Smith 3:00 am

September 22, 2010

• Summers Gave Obama Cover
  by Richard Smith 5:34 pm

• Links 9/22/10
  by Yves Smith 4:14 am

• Is Your Economy Out of Recession?
  by Yves Smith 4:04 am

• Mirabile Dictu! Summers to Depart
  by Yves Smith 3:58 am

• Michael Hirsh on Wall Street and the Roots of the Crisis
  by Yves Smith 2:25 am

September 21, 2010

• Appearance on Max Keiser Show
  by Yves Smith 2:10 pm

• Links 9/21/10
  by Yves Smith 5:34 am

• How Serious is the GMAC Problem? Pretty Serious and Not Just GMAC
  by Yves Smith 4:34 am

• Steve Keen: Deleveraging With a Twist
  by Yves Smith 4:29 am

• Guest Post: Is America Today In Worse Shape Than Japan During Its Lost Decade?
  by George Washington 2:55 am

September 20, 2010

• Grayson Calls on Florida Supreme Court to Halt Foreclosures
  by Yves Smith 4:00 pm

• More on GMAC and Foreclosure Fraud Mess: “The Shit is Hitting the Fan” (Updated)
  by Yves Smith 3:52 pm

• GMAC Stops Foreclosures in 23 States
  by Yves Smith 11:51 am

• Links 9/20/10
  by Yves Smith 4:45 am

• Mike Konczal: The Stagnating Labor Market – What Can the Employed Tell Us About the Unemployed?
  by Yves Smith 3:17 am

• On Polling Bias and “The Manufacture of Consent”
  by Yves Smith 2:09 am

• Pat Caddell: This Wolf in Sheep’s Clothing is Exactly What Threatens the Tea Party Movement
  by Yves Smith 12:27 am

September 19, 2010

• Guest Post: BP and Government Representatives Still Keeping Scientists and Reporters Away from Areas Impacted by Oil
  by George Washington 8:19 pm

• Links 9/19/10
  by Yves Smith 4:21 am

• Warren PR Push Intensifies as Evidence Against Her Succeeding Mounts
  by Yves Smith 3:57 am

• Guest Post: American Businesses and Consumers are NOT Deleveraging … They Are Going On One Last Binge
  by George Washington 2:24 am

September 18, 2010

• Links 9/18/10
  by Yves Smith 5:23 am

• Latest Real Estate Time Bomb: Title of Foreclosed Properties Clouded; Wells Fargo Dumping Risk on Hapless Buyers
  by Yves Smith 4:42 am

• New Studies Debunk Idea that Ending Tax Cuts on Wealthy Hurts Small Businesses
  by Yves Smith 2:49 am

• Radio Interview at WBAI
  by Yves Smith 2:29 am

• A Demure Street Protest Against Banks
  by Yves Smith 1:40 am

September 17, 2010

• Links 9/17/10
  by Yves Smith 4:17 am

• “Truth and Consequences: When the Music’s Over?”
  by Yves Smith 3:24 am

• Guest Post: What’s Going On In The Gulf?
  by George Washington 1:01 am

• Your Humble Blogger Nearly Does a Pratfall on BNN
  by Yves Smith 12:27 am

September 16, 2010

• Links 9/16/10
  by Yves Smith 3:19 am

• Greece: The Lady Really Doth Protest Too Much
  by Yves Smith 2:46 am

• Administration Steps Up Saber Rattling with China
  by Yves Smith 2:13 am

September 15, 2010

• Elizabeth Warren on Way to Being Sidelined as Head of Consumer Protection Agency, Relegated to “Advisor” Role
  by Yves Smith 9:40 pm

• Links 9/15/10
  by Yves Smith 4:56 am

• Why Do We Keep Indulging the Fiction That Banks Are Private Enterprises?
  by Yves Smith 3:27 am

• Tim Duy: Yen Intervention, or Why Japan is Now Carrying China’s Water
  by Yves Smith 2:26 am

• Auerback: TARP Was Not a Success – It Simply Institutionalized Fraud
  by Yves Smith 12:01 am

September 14, 2010

• Tinkerbell Talk, Parsing the Economic Tea Leaves and Market Schizophrenia
  by Yves Smith 5:42 pm

• Links 9/14/10
  by Yves Smith 3:26 am

• Why is AIG Being Permitted to Retrade Its Deal With Taxpayers Yet Again?
  by Yves Smith 2:40 am

• Guest Post: Allegation – Americans Flooded Out Millions in Pakistan to Protect U.S. Drone Military Base
  by George Washington 2:28 am

• Albert Edwards: Market Still Deluding Itself That It Can Escape The Inevitable Denouement
  by Yves Smith 12:45 am

September 13, 2010

• This is Basel III??
  by Richard Smith 3:06 pm

• Andrew Horowitz: Magical Monday – Terrible Tuesday?
  by Yves Smith 3:05 pm

• Links 9/13/10
  by Yves Smith 5:47 am

• Foreclosure Rate Likely to Drive Housing Prices
  by Yves Smith 5:26 am

• William White: Getting Tough on Banks May Not Hurt Economy
  by Yves Smith 4:58 am

• Why the Eurozone Bomb Has Not Been Disarmed Yet
  by Yves Smith 3:45 am

• Is The High Cost of US Medical Care Due To An Oversupply of Services?
  by Yves Smith 12:07 am

• Guest Post: The Warped Mission of the American Military – “Out-Terrorize the Terrorists”
  by George Washington 12:02 am

September 12, 2010

• Links 9/12/10
  by Yves Smith 2:03 am

• Summer Rerun: Ban “No One Could Have Foreseen the Crisis”
  by Yves Smith 1:53 am

September 11, 2010

• Links 9/11/10
  by Yves Smith 2:00 am

• Summer Rerun: Bear/JP Morgan: The Rashomon Defense
  by Yves Smith 12:33 am

September 10, 2010

• Tom Ferguson: The Invisible Hand Is Waving Goodbye
  by Yves Smith 1:21 pm

• Links 9/10/10
  by Yves Smith 4:16 am

• Auerback: China is Still a Renegade Nation
  by Yves Smith 3:07 am

• Big Pharma: Even Worse Than Used Cars as a Market for Lemons?
  by Yves Smith 2:09 am

• Will We Finally See Some Prosecutions for Lehman’s Dubious Accounting?
  by Yves Smith 12:32 am

September 9, 2010

• ECB Chief economist disses German banks (and Eurostresstests)
  by Richard Smith 8:10 am

• The Irish mess (II)
  by Richard Smith 6:51 am

• Links 9/9/10
  by Yves Smith 5:20 am

• Richard Alford: Fed Abandoned Its Duty in Pre-Crisis Housing Bubble Posture
  by Yves Smith 5:02 am

• The Belgian mess (II)
  by Richard Smith 4:49 am

• “Latest Obama Economic Plan : Long on PR, Short on Economic Reality”
  by Tom Adams 1:19 am

• Guest Post: Why Current Food Scares are Overhyped
  by Yves Smith 12:47 am

September 8, 2010

• Defensive Medicine: A Non-Factor in Escalating Health Care Costs?
  by Yves Smith 2:09 pm

• Links 9/8/10
  by Yves Smith 1:36 am

• Summer Rerun: Why the Happy Talk About the Credit Crisis?
  by Yves Smith 12:54 am

• Is the Eurozone Germany’s Stalking Horse?
  by Yves Smith 12:50 am

September 7, 2010

• Guest Post: Blood Tests Show Elevated Level of Toxic Hydrocarbons in Gulf Residents
  by George Washington 1:41 pm

• Eurobank Worries Back to the Fore
  by Yves Smith 1:04 pm

• Links 9/7/10
  by Yves Smith 3:47 am

• EU Effectively Forces Securitization Reforms on the US
  by Yves Smith 3:14 am

• John Cassidy’s Shot at Bernanke’s Lehman Testimony Goes Wide of the Mark
  by Yves Smith 2:26 am

September 6, 2010

• More Evidence That Shareholder Liability Leads to Less Risky Behavior
  by Yves Smith 11:17 pm

• Links 9/6/10
  by Yves Smith 4:41 am

• Bill Black: “Control Fraud” Crushes Kabul, And the New York Times Needs to Correct its Correction
  by Yves Smith 4:16 am

• Is Calm on the European Front Merely a Lull Before an Inevitable Storm
  by Yves Smith 4:09 am

• Summer Rerun: Japan Says US Financial Crisis Worse Than Its Bust, Urges Government to Recapitalize Banks
  by Yves Smith 3:26 am

September 5, 2010

• Links 9/5/10
  by Yves Smith 2:19 am

• Bill Black: Band of Bigots – Dr. Sarrazin, Herr Henkel, and the Bank of America
  by Yves Smith 1:14 am

• Summer Rerun: The Administration’s Cosmetic Credit Market Reform
  by Yves Smith 1:04 am

September 4, 2010

• Links 9/4/10
  by Yves Smith 3:34 am

• Summer Rerun: Self-Inflicted Wounds and Mutual Assured Destruction
  by Yves Smith 3:18 am

• Guest Post: Economic consequences of speculative side bets – The case of naked CDS
  by Yves Smith 3:15 am

September 3, 2010

• Links 9/3/10
  by Yves Smith 4:30 am

• Fannie to Crack Down on Foreclosure Delays
  by Yves Smith 4:10 am

• Marshall Auerback on Why Quantitative Easing Won’t Fix the Economy
  by Yves Smith 2:43 am

• Eurobank Stress Tests: A Failed Confidence Ploy
  by Yves Smith 2:35 am

• Andrew Horowitz: NPF Unemployment Preview: Continued Market Strength or September Weakness?
  by Yves Smith 12:39 am

September 2, 2010

• New Oil RIg Explosion in the Gulf
  by Yves Smith 12:17 pm

• Links 9/2/10
  by Yves Smith 4:44 am

• Whalen Says Forget QE, Get Tough With Banks
  by Yves Smith 3:55 am

• Having Hollowed Out IT in the US, Indian Outsourcers Complain Re Difficulty of Finding US Staff
  by Yves Smith 1:55 am

• Guest Post: Scientists Say Dispersants May Delay Recovery of the Gulf By Years … Or Decades
  by George Washington 12:46 am

September 1, 2010

• Lax Basel III Rules to Spur Further Bank Consolidation, Meaning More TBTF?
  by Yves Smith 1:44 pm

• Links 9/1/10
  by Yves Smith 3:27 am

• Dick Fuld is Still Trying to Blame Everyone Else For Lehman’s Failure
  by Yves Smith 3:22 am

• So $400 Billion of QE Buys 17 Basis Points of Rate Reduction?
  by Yves Smith 12:53 am

• Summer Rerun: Treasury Doth Speak With Forked Tongue (Housing Bailout Edition)
  by Yves Smith 12:10 am