Comments on: Larry Summers: Wrong Man for the Job, Part II http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 23:28:32 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Moss http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160132 Moss Mon, 06 Apr 2009 19:15:07 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160132 On a positive note: New York Atty. Gen. Andrew Cuomo today charged money manager J. Ezra Merkin with civil fraud in the Bernie Madoff Ponzi scheme, alleging that Merkin funneled more than $2.4 billion in clients’ funds to Madoff while ignoring "glaring red flags." Moral of all this: Learn how to NOT be a sucker. Verify then trust. On a positive note:
New York Atty. Gen. Andrew Cuomo today charged money manager J. Ezra Merkin with civil fraud in the Bernie Madoff Ponzi scheme, alleging that Merkin funneled more than $2.4 billion in clients’ funds to Madoff while ignoring “glaring red flags.”

Moral of all this:
Learn how to NOT be a sucker. Verify then trust.

]]> By: Greg0658 http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160103 Greg0658 Mon, 06 Apr 2009 17:12:06 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160103 sorry for turning this thread into a twitter of CNBC (if you build it they will come)(because its A,B or C) AOLs Steven Case "Revolution Money". I was a cyber jetsetter once (I guess still am) "Oligopoly"as an early AOL customer (inwestor) was totallllyyy (in a Valleyboy tone) turned off by them using my monthly subscription to buy Time Warner to then F_itup. Thats ok .. I kinda dont approve of oligopolies. Whats the next big thing? Hey Donny - I think its / come in - drop a dime / non alcohol / non tube / non workout / recreation establishments. Sorta Chucky Cheessey. sorry for turning this thread into a twitter of CNBC (if you build it they will come)(because its A,B or C)
AOLs Steven Case “Revolution Money”. I was a cyber jetsetter once (I guess still am) “Oligopoly”as an early AOL customer (inwestor) was totallllyyy (in a Valleyboy tone) turned off by them using my monthly subscription to buy Time Warner to then F_itup. Thats ok .. I kinda dont approve of oligopolies. Whats the next big thing? Hey Donny – I think its / come in – drop a dime / non alcohol / non tube / non workout / recreation establishments. Sorta Chucky Cheessey.

]]> By: Greg0658 http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160087 Greg0658 Mon, 06 Apr 2009 16:25:51 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160087 I have been pondering this refi development. On one hand we cant be allowing massive fraud of sign'g for more than the individual can ever afford and home hopping. On the other hand the concept of when you sign on the line you own it till its paid for .. even after the bank has reposed the property? If true (and why I was so interested / as many would be imo) there MUST be a mechanism to release the initial sign on the line borrower once the reposed property is once again in private hands. BUT how would that be worded .. a bank (owner) could sell the property at a substantial loss to a friend knowing this deadbeat(a term) is on the hook thru wage garnishments until the losses are paid in full. Not very equally capitalistic. But these are not EQUAL times. I have been pondering this refi development.
On one hand we cant be allowing massive fraud of sign’g for more than the individual can ever afford and home hopping. On the other hand the concept of when you sign on the line you own it till its paid for .. even after the bank has reposed the property? If true (and why I was so interested / as many would be imo) there MUST be a mechanism to release the initial sign on the line borrower once the reposed property is once again in private hands. BUT how would that be worded .. a bank (owner) could sell the property at a substantial loss to a friend knowing this deadbeat(a term) is on the hook thru wage garnishments until the losses are paid in full. Not very equally capitalistic. But these are not EQUAL times.

]]> By: Greg0658 http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160080 Greg0658 Mon, 06 Apr 2009 16:02:29 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160080 first up: http://money.cnn.com/2009/04/06/news/economy/housing_scams/?section=money_topstories we can NOT allow monopolies in information .. or elsewhere first up:
http://money.cnn.com/2009/04/06/news/economy/housing_scams/?section=money_topstories

we can NOT allow monopolies in information .. or elsewhere

]]> By: Greg0658 http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160077 Greg0658 Mon, 06 Apr 2009 15:52:49 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160077 ps - I also visited NPR dotorg and Whitehouse dotgov :-( ps – I also visited NPR dotorg and Whitehouse dotgov :-(

]]> By: Greg0658 http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160076 Greg0658 Mon, 06 Apr 2009 15:51:23 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160076 Mark E Hoffer Says: April 5th, 2009 at 1:09 pm "Lenders Gear Up to Offer Mortgage Loan Modifications with a Catch… No Mortgage Loan Document Audit Legal Recourse Borrowers will be facing a veritable landslide of Loan Modification offers from lenders with waiver of rights clauses, according to some Florida real estate attorneys. With mortgage loan document audits fast becoming the favorite tool of Loan modification companies and attorney throughout the nation, the lenders are attempting to pare their losses. Mortgage loan document audit firms like Florida based MitiGroup, LLC have seen their business grow in the past month from loan mod companies ........" Since I'm furious with CNBC for cutting the feed from the news conference happening right now and since I can't find a reference "geithner holder mortgage minutes ago" on Google I thought I would make one. Stop regurgitating (edit'g) this stuff and front running info Kudlow. We got to see the Geither statement and when Holder steps up with the meat and potatoes .. wouldn't this be more interesting! Mark E Hoffer Says: April 5th, 2009 at 1:09 pm
“Lenders Gear Up to Offer Mortgage Loan Modifications with a Catch… No Mortgage Loan Document Audit Legal Recourse

Borrowers will be facing a veritable landslide of Loan Modification offers from lenders with waiver of rights clauses, according to some Florida real estate attorneys. With mortgage loan document audits fast becoming the favorite tool of Loan modification companies and attorney throughout the nation, the lenders are attempting to pare their losses. Mortgage loan document audit firms like Florida based MitiGroup, LLC have seen their business grow in the past month from loan mod companies ……..”

Since I’m furious with CNBC for cutting the feed from the news conference happening right now and since I can’t find a reference “geithner holder mortgage minutes ago” on Google I thought I would make one.

Stop regurgitating (edit’g) this stuff and front running info Kudlow. We got to see the Geither statement and when Holder steps up with the meat and potatoes .. wouldn’t this be more interesting!

]]> By: jrnbj http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-160046 jrnbj Mon, 06 Apr 2009 14:24:01 +0000 http://www.ritholtz.com/blog/?p=23146#comment-160046 @Chacona thanks for the links.......surely there must be someone out there--unknown, but honest--that could be in Summers job. Summers has supped at the trough long enough. @Chacona
thanks for the links…….surely there must be someone out there–unknown, but honest–that could be in Summers job. Summers has supped at the trough long enough.

]]> By: usphoenix http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-159955 usphoenix Mon, 06 Apr 2009 01:47:05 +0000 http://www.ritholtz.com/blog/?p=23146#comment-159955 @chacona Thanks for the links. Fascinating. What few words were attributed to Summers suggest to me that he knew far more than he was telling, and had beneficial memory lapses. Well, they were all knee deep in hedge funds. Hoe could their not be conflicts of interest on everyone's part. Just another day in the life of Summers. Tell me again why he's on staff? @chacona Thanks for the links.

Fascinating. What few words were attributed to Summers suggest to me that he knew far more than he was telling, and had beneficial memory lapses.

Well, they were all knee deep in hedge funds. Hoe could their not be conflicts of interest on everyone’s part.

Just another day in the life of Summers. Tell me again why he’s on staff?

]]> By: chacona http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-159917 chacona Mon, 06 Apr 2009 00:34:11 +0000 http://www.ritholtz.com/blog/?p=23146#comment-159917 And then there was the Shleifer affair.... http://www.thecrimson.com/article.aspx?ref=511201 http://www.economicprincipals.com/issues/04.09.05.html And then there was the Shleifer affair….

http://www.thecrimson.com/article.aspx?ref=511201

http://www.economicprincipals.com/issues/04.09.05.html

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/04/larry-summers-wrong-man-for-the-job-part-ii/comment-page-2/#comment-159897 Mark E Hoffer Sun, 05 Apr 2009 23:07:31 +0000 http://www.ritholtz.com/blog/?p=23146#comment-159897 drollere, that's very interesting, I had a # of conversations, over the weekend, where it was concluded that it would be wise to more heavily weight the Poli-Sci-side v. the Fi-side--moreso, now, than before, in this Poli-Sci-Fi pachinko parlor that masquerades as our 'Economy'.. drollere,

that’s very interesting, I had a # of conversations, over the weekend, where it was concluded that it would be wise to more heavily weight the Poli-Sci-side v. the Fi-side–moreso, now, than before, in this Poli-Sci-Fi pachinko parlor that masquerades as our ‘Economy’..

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