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Read more...Yearly Archives: 2013
Links 2/6/13
Judge Rakoff Delivers Big Blow to Bank of America and JP Morgan in Flagstar Mortgage Putback Ruling
Wow, one of my big assumptions about mortgage putback cases has been turned on its ear, much to the detriment of Bank of America and JP Morgan. If you thought there were pitched legal battles on this front, a key ruling by Judge Jed Rakoff means you ain’t seen nothing yet.
Read more...Yanis Varoufakis: The Neoclassical Economist as Playwright
If a sophisticated neoclassical economist ever attempted to write a play without violating neoclassicism’s basic tenets, what would that play be like?
Read more...Marcy Wheeler: This Isn’t the Memo You’re Looking For
As important as it is to see the white paper DOJ gave Congress to explain its purported legal rationale, it is just as important to make clear what this white paper is not.
Read more...Reader Notices Plus Blegs
Dear patient readers…
Read more...Links 2/5/12
Should We Take the Department of Justice’s Suit Against Standard & Poor’s Seriously?
I know cynicism-hardened Naked Capitalism readers will expect the answer to the question in the headline to be “no”. But based on a summary of the filing at Bloomberg (and having conferred with lawyers on this beat), the answer looks more like “possibly yes”.
Read more...Lynn Parramore: Obsolete Humans? Why Elites Want You to Fear the Robot
Dystopian technology fantasies are flooding the media, to the delight of the 1 percent.
Read more...Government Borrowing Explained: A Guide for Urine Drinkers
By Neil Wilson, an expert in finance and innovation systems. Cross posted from 3spoken
Calling all chronic Urine Drinkers and Dung Eaters. I’d like to explain government borrowing for you.
Don’t think that applies to you? Think again.
Read more...Occupy the SEC Weighs in on Nomination of Mary Jo White to Head the SEC
Occupy the SEC has released one of its characteristically well-though-out and documented letters, in the form of questions it would like to see raised during the Senate hearings on the nomination of Mary Jo White to head the SEC.
Read more...Will Federal Home Loan Banks’ Lawsuit Derail Bank of America’s $8.5 Billion Settlement?
There have been so many bailouts settlements of various bank mortgage misdeeds that it’s no doubt hard to keep them straight unless you are on this beat. But the short version is I’m delighted at this effort to throw a monkey wrench in the Bank of America settlement.
Links 2/4/13
Congress Begins Investigation of Botched Foreclosure Review Cover-Up Settlement
The more people look at the abruptly-arranged settlement of the OCC/Fed foreclosure reviews, the more they realize something does not smell right.
Read more...Bill Black: Yglesias Mimics “Mankiw Morality” and Bashes Bastiat
Yves here. Remind me never to get on Bill Black’s bad side.
Read more...