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...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...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...Dear patient readers…
Read more...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...Dystopian technology fantasies are flooding the media, to the delight of the 1 percent.
Read more...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 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...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.
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...Yves here. Remind me never to get on Bill Black’s bad side.
Read more...By George Feiger, CEO of Contango Capital Advisors. From Contango’s current “Heard off the Street” newsletter
We question whether the widely held judgment that the US handled its banking crisis much better than the Europeans will survive the inevitable upturn in interest rates.
Read more...This post on the near term outlook for natural gas may give environmentalists cheer.
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