Monthly Archives: June 2011

June 30, 2011

• DSK Prosecution on the Verge of Collapse
  by Yves Smith 10:14 pm

• Jane Hamsher: What Obama Fights For – Giving $9.55 Billion to North Korea to Spend on Nukes
  by Yves Smith 5:58 pm

• Links 6/30/11
  by Yves Smith 5:34 am

• BofA “Settlement”: Not a Done Deal, and Not a Good Deal for Investors
  by Yves Smith 3:30 am

• US Bank Halts Evictions in Oregon After Judge Reverses Foreclosure
  by Yves Smith 1:34 am

June 29, 2011

• Marshall Auerback: “Extend and Pretend” Continues in the Euro Zone
  by Yves Smith 7:02 pm

• The U-Shaped Jobs Recovery
  by Edward Harrison 11:03 am

• Links 6/29/11
  by Yves Smith 2:18 am

• Andrew Sheng Says Sustainability Means Caging Godzillas
  by Yves Smith 1:06 am

June 28, 2011

• Bank of America Likely to Settle Case with NY Fed, Pimco, Blackrock for $8.5 Billion
  by Yves Smith 9:03 pm

• Capital and liquidity: whose problem?
  by Richard Smith 7:14 pm

• “Somalia has slightly higher standards than Wyoming and Nevada” (Corporate Secrecy Edition)
  by Yves Smith 4:26 pm

• On Eurozone budgetary constraints
  by Edward Harrison 10:06 am

• Links 6/28/11
  by Yves Smith 3:46 am

• Philip Pilkington: Economic Fetishism – Three Objects of Perverse Intellectual Pleasure
  by Yves Smith 1:17 am

• Matt Stoller: Beyond Elections – Hedging Theory of Political Elites
  by Yves Smith 12:39 am

June 27, 2011

• Comments on the Second Greek Bailout
  by Edward Harrison 12:10 pm

• DeLong Illustrates Why We Should Be Scared of Economists
  by Yves Smith 5:15 am

• Links 6/27/11
  by Yves Smith 4:33 am

• Tom Adams: How Treasury’s “Kick the Can” Strategy Exacerbates Mortgage Market Woes (Mortgage Insurer Edition)
  by Yves Smith 2:35 am

• Satyajit Das: Default Semantics – Credit Default Swaps & Greece
  by Yves Smith 2:19 am

June 26, 2011

• Failing Upward, Version 3,452,227 (aka the Wages of Nearly Bringing Down the Global Economy)
  by Yves Smith 2:55 pm

• Links 6/26/11
  by Yves Smith 5:59 am

• Quelle Surprise! World’s Richest Profited From the Crisis!
  by Yves Smith 5:56 am

• The Social Cost of the Loss of Job Stability and Careers
  by Yves Smith 4:06 am

June 25, 2011

• Links 6/25/11
  by Yves Smith 4:24 am

• Quelle Surprise! Greece is REALLY REALLY Bad at Collecting Taxes!
  by Yves Smith 4:18 am

• Florida Governor Floats Huge Gimmie for Banks: Taking Foreclosures Out of the Court System
  by Yves Smith 3:47 am

June 24, 2011

• What can the Fed do?
  by Edward Harrison 9:35 am

• Links 6/24/11
  by Yves Smith 6:29 am

• Ezra Klein Should Stick to Being Wrong About Health Care
  by Yves Smith 6:12 am

• Matt Stoller: Who Wants Keep the War on Drugs Going AND Put You in Debtor’s Prison?
  by Matt Stoller 4:19 am

• Michael Hudson: Whither Greece? Without a National Referendum Iceland-Style, EU Dictates Cannot be Binding
  by Yves Smith 3:27 am

• Two Michigan Counties Sue Fannie and Freddie for Nonpayment of Mortgage Transfer Fees
  by Yves Smith 2:30 am

June 23, 2011

• Bill Gross: Bond Vigilante, Minsky Convert
  by Edward Harrison 9:19 am

• Links 6/23/11
  by Yves Smith 4:46 am

• How Germany Achieved Stable and Affordable Housing
  by Yves Smith 3:31 am

• Bill Black: Dawn of the Gargoyles – Romney Proves He’s Learned Nothing from the Crisis
  by Yves Smith 3:07 am

• Sunny Sheu: Murdered for Investigating NY Foreclosure Judge Joseph Golia?
  by Yves Smith 2:04 am

• Guest Post: Bernanke Is Either Not Very Bright or Not Very Honest. He Admits He Doesn’t Know Why We Have a Weak Economy … But He’s the One Who Weakened It
  by George Washington 1:45 am

June 22, 2011

• Links 6/22/11
  by Yves Smith 6:59 am

• Republican Lynch Mob Looking Awfully Hard to Find Rope With Which to Hang Elizabeth Warren
  by Yves Smith 6:24 am

• Bhidé Cites “Rampant, Extensive Criminality” As Proof That Bank Reform Has Gone Down the Wrong Path
  by Yves Smith 4:45 am

• OCC Gives Banks Another Blow Job
  by Yves Smith 4:37 am

June 21, 2011

• JP Morgan Pays $153.6 Million to Settle SEC Charges on Toxic Magnetar CDO
  by Yves Smith 6:11 pm

• Links Summer Solstice
  by Yves Smith 7:02 am

• Two Supreme Court Rulings Give Big Companies “Get Out of Liability Free” Cards
  by Yves Smith 6:24 am

• Alex Andreou: Democracy vs Mythology – The Battle in Syntagma Square
  by Yves Smith 1:00 am

June 20, 2011

• Tom Ferguson: “Standstill Nation” as the New Abnormal?
  by Yves Smith 3:59 pm

• Links 6/20/11
  by Yves Smith 4:56 am

• Eurozone Brinksmanship: Ministers Walk Back Greek Rollover Commitment, Demand Austerity Measures First
  by Yves Smith 4:51 am

• Another Layer of the Mortgage Mess: “Zombie Notes”
  by Yves Smith 12:24 am

June 19, 2011

• Links 6/19/11
  by Yves Smith 5:25 am

• More Dubious Research: “It Would Take 62 Years in New York to Repossess the Homes in Severe Default or Foreclosure”
  by Yves Smith 4:57 am

• Dubious Research: The More Debt Students Have, The Higher Their Self Esteem
  by Yves Smith 3:55 am

• Guest Post: Global Nuclear Update
  by George Washington 1:49 am

June 18, 2011

• Links 6/18/11
  by Yves Smith 6:10 am

• Durbin Bill Designed to Throw Wrench in Wall Street Infrastructure Heist
  by Yves Smith 5:50 am

• Fraud, Anyone? Another Type of Mortgage Document Fabrication Finally Getting Attention
  by Yves Smith 4:18 am

June 17, 2011

• Links 6/17/11
  by Yves Smith 6:05 am

• Philip Pilkington: Economics as Metaphysics and Morals
  by Yves Smith 5:10 am

• Mirabile Dictu! Central Bankers Getting Concerned About Bank Capital Levels Rather Late in the Reform Game
  by Yves Smith 4:46 am

• Michael Hudson: Free Money Creation to Bail Out Financial Speculators, but not Social Security or Medicare
  by Yves Smith 1:38 am

June 16, 2011

• “A Security and Finance State that Dominates the American People”
  by Yves Smith 4:55 pm

• Guest Post: America Is Being Raped … Just Like Greece and Other Countries
  by George Washington 3:27 pm

• Stephen Roach: America is a Zombie Nation just like Japan
  by Edward Harrison 10:32 am

• Links 6/16/11
  by Yves Smith 4:36 am

• What Happens if the Consumer Financial Protection Bureau Has No Director By Its Start Date?
  by Yves Smith 4:05 am

• Life Expectancy Fell in Many Counties in the US BEFORE the Crisis
  by Yves Smith 2:50 am

• How the Mortgage Industry Bullies Lawyers Who Sue Them (With the Help of PR Outlet Housing Wire)
  by Yves Smith 1:23 am

June 15, 2011

• The Greek Restructuring Debate
  by Edward Harrison 8:50 am

• Links 6/15/11
  by Yves Smith 5:04 am

• Martin Wolf: Why China Could Fail Like Japan
  by Yves Smith 4:30 am

• Mirabile Dictu! SEC Probes Relationship Among Toxic CDO Sponsor Magnetar, Merrill, and CDO Manager
  by Yves Smith 2:11 am

• “Economics Upside Down” or Why “Free Markets” Don’t Exist
  by Yves Smith 12:09 am

June 14, 2011

• Links 6/14/11
  by Yves Smith 6:58 am

• Inept Obama “Anybody but Warren” Stance Reveals Fundamental Bank v. Middle Class Fault Line
  by Yves Smith 6:55 am

• New York State Appellate Court MERS Smackdown: Another Nail in the Coffin
  by Yves Smith 6:40 am

• Guest Post: How can small groups put a stop to bad behaviour? Make it a race for second place
  by Yves Smith 5:50 am

June 13, 2011

• HUD: Bank of America “Significantly Hindered” Mortgage Probe (Updated)
  by Yves Smith 11:16 pm

• Guest Post: The Giant Banks Are ALREADY State-Sponsored … So Why Not Create Public Banks to at Least Share the Gains, Help Out Main Street, and Grow Our Local Economies?
  by George Washington 11:17 am

• Links 6/13/11
  by Yves Smith 6:58 am

• Michael Hudson: The Financial Road to Serfdom – How Bankers are Using the Debt Crisis to Roll Back the Progressive Era
  by Yves Smith 6:50 am

• New York Attorney General Schneiderman Investigating Validity of Mortgage Transfers at Bank of America (Updated: Trustees Bank of New York and Deutsche Bank Also Being Probed)
  by Yves Smith 3:12 am

• Richard Alford: If War Is Too Important To Be Left To The Generals, Isn’t Economic Policy Too Important To Be Left To Economists?
  by Yves Smith 2:44 am

June 12, 2011

• Links 6/12/11
  by Yves Smith 2:41 am

• California Bankruptcy Court Judge Edward Jellen Says Repeatedly He Doesn’t Care if the Creditor Asking to be Paid is Really Owed the Money
  by Yves Smith 12:48 am

• Steve Keen: Dude! Where’s My Recovery?
  by Yves Smith 12:12 am

June 11, 2011

• Some Background on How the Roosevelt Institute Got Into Bed With Pete Peterson, the Enemy of Social Security (Updated)
  by Yves Smith 5:52 pm

• Links 6/11/11
  by Yves Smith 2:06 am

• Matt Stoller: Cato – Privatization Deals Are ‘Fraught with Peril’
  by Yves Smith 12:14 am

June 10, 2011

• The ECB’s Target2 activities are not constraining German credit growth
  by Edward Harrison 1:30 pm

• AIG Does It Again: Sale of Maiden Lane II Assets Tanking Credit Markets
  by Yves Smith 12:36 pm

• Links 6/10/11
  by Yves Smith 6:00 am

• Goldman Sycophants of the World Unite! You Have Nothing to Lose but Your Virtually Non-Existent Reputations!
  by Yves Smith 5:33 am

• Adulterous Failed Banker Fred Goodwin’s New Human Shield
  by Richard Smith 4:51 am

• Michigan Court Relies on New York Trust Theory, Rules Loan Never Made it to Trust
  by Yves Smith 2:45 am

• Treasury Waves Wet Noodle at Big Banks Over HAMP Mortgage Mod Abuses
  by Yves Smith 1:23 am

June 9, 2011

• Links 6/9/11
  by Yves Smith 5:20 am

• Obama Still Desperately Seeking Anybody But Warren to Head New Consumer Agency
  by Yves Smith 4:53 am

• Chinese Real Estate Bubble Finally Imploding?
  by Yves Smith 1:03 am

June 8, 2011

• Jon Walker: Roosevelt Institute Abandons Traditional Liberal Health Care Policies For Pete Peterson
  by Yves Smith 7:00 pm

• Call Your Senators Over Sneak Attack On the Consumer Financial Protection Bureau
  by Yves Smith 6:45 pm

• William Dudley on Economic Policy
  by Edward Harrison 11:50 am

• Links 6/8/11
  by Yves Smith 5:54 am

• Embarrassingly Lame Federal/”50″ State Attorneys General Mortgage Negotiations Continue
  by Yves Smith 5:42 am

• Philip Pilkington: Down in the Hole – Is America Becoming the Next Japan?
  by Yves Smith 4:15 am

• Kevin O’Rourke on the Irish/Eurozone Mess
  by Yves Smith 2:03 am

• Alexander Gloy: Merkel to Sinn: “In my office. NOW.”
  by Yves Smith 1:20 am

June 7, 2011

• Links 6/7/11
  by Yves Smith 6:01 am

• Goldman Uses Wall Street’s Favorite Reporter to Make Unpersuasive Defense Against Levin Report
  by Yves Smith 5:56 am

• “Lifting the Veil”
  by Yves Smith 4:42 am

• Quelle Surprise! Banks are Concerned About Mortgage Slowdown
  by Yves Smith 4:26 am

• Is Foreclosure Via Facebook Coming to the US?
  by Yves Smith 1:35 am

June 6, 2011

• Corporate Police State: Cisco Enlists Prosecutors to Impede Whistleblower Lawsuit
  by Yves Smith 4:07 pm

• Links 6/6/11
  by Yves Smith 6:20 am

• Michael Hudson: Will Greece Let EU Central Bankers Destroy Democracy?
  by Yves Smith 5:50 am

• On the Shortcomings in US Nuclear Emergency Plans
  by Yves Smith 5:40 am

• “Debtors’ Prison”: Bob Kuttner on the Costs of Rentier Rule
  by Yves Smith 4:13 am

June 5, 2011

• Links 6/5/11
  by Yves Smith 4:28 am

• On Fauxgressive Rationalizations of Selling Out to Powerful, Moneyed Backers
  by Yves Smith 1:30 am

• Larry Platt, Prominent Securitization Lawyer, Made False Statements About BofA Mortgage Transfers
  by Yves Smith 1:18 am

June 4, 2011

• Florida Homeowner Forecloses on Bank of America Branch
  by Yves Smith 10:13 pm

• Guest Post: Are Nuclear Reactions Still Occurring at Fukushima?
  by George Washington 12:50 pm

• Links 6/4/11
  by Yves Smith 5:00 am

• The Trap
  by Yves Smith 4:57 am

• Philip Pilkington: Debt, public or private?: The necessity of debt for economic growth
  by Yves Smith 4:46 am

June 3, 2011

• Fortune Confirms Pervasive Defects in Bank of America Mortgage Documents
  by Yves Smith 3:16 pm

• Bribes Work: How Peterson, the Enemy of Social Security, Bought the Roosevelt Name
  by Yves Smith 3:56 am

• Links 6/3/11
  by Yves Smith 3:55 am

• Michael Hudson: Replacing Economic Democracy with Financial Oligarchy
  by Yves Smith 3:49 am

• 10 Year Real Wage Gains Lower Than During Depression
  by Yves Smith 3:10 am

June 2, 2011

• Guest Post: Congressional Research Service Confirms Big Banks Borrowed Cash For Next To Nothing, Then Lent It Back to the Federal Government at Much Higher Rates
  by George Washington 7:34 pm

• Guest Post: Even BP-Funded Scientists Find that the Use of Corexit Dispersant in the Gulf Made Things Worse … but BP Still Tries to Blame Others for Destruction
  by George Washington 2:43 pm

• Goldman Subpoenaed Over Levin Committee Hearing Findings
  by Yves Smith 1:13 pm

• Links 6/2/11
  by Yves Smith 5:52 am

• Banker Derangement Syndrome I: Lawyers Offer to Get Rid of Their Profession to Save the TARP Banks
  by Yves Smith 4:48 am

• Banker Derangement Syndrome II: William Cohan Can Give No Reason for Not Appointing Warren, Except Some People Don’t Like Her
  by Yves Smith 3:05 am

• Affordable Housing Groups Once Again Acting As Human Shields For Banksters
  by Yves Smith 1:26 am

June 1, 2011

• Guest Post: Yastrow: “We Are on the Verge of a Great, Great Depression”
  by George Washington 2:52 pm

• Will China’s bad debt problem affect employment?
  by Edward Harrison 10:32 am

• VOICE Demands Immelt, GE, Bank of America, JP Morgan Address Foreclosure Crisis
  by Yves Smith 9:15 am

• Links 6/1/11
  by Yves Smith 5:32 am

• Bill Black: Bad Cop; Crazed Cop – the IMF and the ECB
  by Yves Smith 4:50 am

• China to Clean Up Toxic Local Government Debt?
  by Yves Smith 4:34 am

• Jean Pisani-Ferry on Europe’s Tiger and German Nightmares
  by Yves Smith 2:43 am