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	<title>Comments on: Securitization: Advanta and the Fiction of True-Sale</title>
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	<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/</link>
	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: A Great Name For A Metal Band &#124; Cale In The Keys</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-187026</link>
		<dc:creator>A Great Name For A Metal Band &#124; Cale In The Keys</dc:creator>
		<pubDate>Fri, 26 Jun 2009 04:47:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-187026</guid>
		<description>[...] tip to Barry Ritholtz and the folks at [...]</description>
		<content:encoded><![CDATA[<p>[...] tip to Barry Ritholtz and the folks at [...]</p>
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		<title>By: fonzanoons</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-177405</link>
		<dc:creator>fonzanoons</dc:creator>
		<pubDate>Fri, 29 May 2009 16:05:18 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-177405</guid>
		<description>I tried to get cards for our company after I received this notice. US Bank wanted FOUR to SIX weeks!!! Advanta’s conduct is deplorable. They’re punishing the few businesses managing to stay afloat by pulling the rug out from under us.

I found Comdata and they’ll be sending us cards next week. I’ll have feedback in another week or so. I’d be interested to know what others are using.</description>
		<content:encoded><![CDATA[<p>I tried to get cards for our company after I received this notice. US Bank wanted FOUR to SIX weeks!!! Advanta’s conduct is deplorable. They’re punishing the few businesses managing to stay afloat by pulling the rug out from under us.</p>
<p>I found Comdata and they’ll be sending us cards next week. I’ll have feedback in another week or so. I’d be interested to know what others are using.</p>
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		<title>By: Mike in Nola</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175432</link>
		<dc:creator>Mike in Nola</dc:creator>
		<pubDate>Sun, 24 May 2009 14:05:44 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175432</guid>
		<description>Even better: Ben Bernanke went to Harvard undergrad and has his Ph.D. from MIT. Even more &#039;Nuff said.</description>
		<content:encoded><![CDATA[<p>Even better: Ben Bernanke went to Harvard undergrad and has his Ph.D. from MIT. Even more &#8216;Nuff said.</p>
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		<title>By: Cursive</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175407</link>
		<dc:creator>Cursive</dc:creator>
		<pubDate>Sun, 24 May 2009 13:10:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175407</guid>
		<description>@Mike

Agreed.  Joe Kernan graduated from MIT.  &#039;Nuff said.</description>
		<content:encoded><![CDATA[<p>@Mike</p>
<p>Agreed.  Joe Kernan graduated from MIT.  &#8216;Nuff said.</p>
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		<title>By: Mike in Nola</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175396</link>
		<dc:creator>Mike in Nola</dc:creator>
		<pubDate>Sun, 24 May 2009 11:58:32 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175396</guid>
		<description>Thanks for the post, Chris.

LSU and other state universities are only considered not top tier because they don&#039;t contribute so many star witnesses to Congressional investigations. Those who train players for the fraud factories can&#039;t afford to be honest about those future employers.</description>
		<content:encoded><![CDATA[<p>Thanks for the post, Chris.</p>
<p>LSU and other state universities are only considered not top tier because they don&#8217;t contribute so many star witnesses to Congressional investigations. Those who train players for the fraud factories can&#8217;t afford to be honest about those future employers.</p>
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		<title>By: drollere</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175389</link>
		<dc:creator>drollere</dc:creator>
		<pubDate>Sun, 24 May 2009 07:01:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175389</guid>
		<description>&quot;the solution is simple&quot; always makes me expect the next words are going to be: &quot;baby jesus needs to come down and kick some ass.&quot;

yes, the solution is simple, so what is the solution? do we need to write to our congressmen, write to the sec or the ftc or to the fed or to the president? do we need to consolidate regulatory agencies, fire regulators, retrain regulators, hire new regulators, create new accounting standards, create a new regulatory agency, change incorporation laws, change securitization laws, pass a law that says &quot;you know that other law? we really mean it!&quot; -- what exactly is the solution? (and clearly, if wall street &quot;has a saying&quot;, then wall street doesn&#039;t expect a &quot;solution&quot; to come anytime soon!)

i&#039;m fascinated by the condition of modern democratic discourse. everyone has a problem diagnosis. everyone thinks the solution is simple, and has the solution. the solution always imposes costs on someone else, who has a different solution. the solutions must be adjudicated, or legislated, or regulated, or administrated, which means the solution bastard will end up being constipated and dissipated. and for the dissipated constipation there will be simple solutions. and so the churn of simple solutions boils eternal.

baby jesus needs to come down and kick some ass.</description>
		<content:encoded><![CDATA[<p>&#8220;the solution is simple&#8221; always makes me expect the next words are going to be: &#8220;baby jesus needs to come down and kick some ass.&#8221;</p>
<p>yes, the solution is simple, so what is the solution? do we need to write to our congressmen, write to the sec or the ftc or to the fed or to the president? do we need to consolidate regulatory agencies, fire regulators, retrain regulators, hire new regulators, create new accounting standards, create a new regulatory agency, change incorporation laws, change securitization laws, pass a law that says &#8220;you know that other law? we really mean it!&#8221; &#8212; what exactly is the solution? (and clearly, if wall street &#8220;has a saying&#8221;, then wall street doesn&#8217;t expect a &#8220;solution&#8221; to come anytime soon!)</p>
<p>i&#8217;m fascinated by the condition of modern democratic discourse. everyone has a problem diagnosis. everyone thinks the solution is simple, and has the solution. the solution always imposes costs on someone else, who has a different solution. the solutions must be adjudicated, or legislated, or regulated, or administrated, which means the solution bastard will end up being constipated and dissipated. and for the dissipated constipation there will be simple solutions. and so the churn of simple solutions boils eternal.</p>
<p>baby jesus needs to come down and kick some ass.</p>
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		<title>By: Cursive</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175372</link>
		<dc:creator>Cursive</dc:creator>
		<pubDate>Sun, 24 May 2009 05:22:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175372</guid>
		<description>&quot;Hence, the saying on Wall Street is “the only securitization without recourse is the firm’s last.”&quot;

This is a different kind of &quot;liar&#039;s loan,&quot; but a liar&#039;s loan nonetheless.  The financial services industry has been trying to have its cake and eat it, too.  Off-balance sheet SPV&#039;s created to circumvent capital requirments ratios?  Citibank, are you listening?</description>
		<content:encoded><![CDATA[<p>&#8220;Hence, the saying on Wall Street is “the only securitization without recourse is the firm’s last.”&#8221;</p>
<p>This is a different kind of &#8220;liar&#8217;s loan,&#8221; but a liar&#8217;s loan nonetheless.  The financial services industry has been trying to have its cake and eat it, too.  Off-balance sheet SPV&#8217;s created to circumvent capital requirments ratios?  Citibank, are you listening?</p>
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		<title>By: Cursive</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175370</link>
		<dc:creator>Cursive</dc:creator>
		<pubDate>Sun, 24 May 2009 05:07:01 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175370</guid>
		<description>@MEH

Yes, it was Sammy Antar.  My bad.  I was thinking of Crazy Eddie&#039;s and, you know....  I have since seen Sam on an episode of MasterMinds, which used to appear on CNBC and CourtTV.  After his presentation at the fraud conference I attended, I asked him if he would ever invest in a publicly traded company.  Without hesitation, he answered, &quot;No, absolutely not.&quot;  Continuing, he explained that he only invested in commercial real estate (not sure how he has weathered that storm).  Anyway, we had Cynthia Cooper (WorldCom) and a bunch of other excellent guests, but Sammy Antar is a showman, par excellence.</description>
		<content:encoded><![CDATA[<p>@MEH</p>
<p>Yes, it was Sammy Antar.  My bad.  I was thinking of Crazy Eddie&#8217;s and, you know&#8230;.  I have since seen Sam on an episode of MasterMinds, which used to appear on CNBC and CourtTV.  After his presentation at the fraud conference I attended, I asked him if he would ever invest in a publicly traded company.  Without hesitation, he answered, &#8220;No, absolutely not.&#8221;  Continuing, he explained that he only invested in commercial real estate (not sure how he has weathered that storm).  Anyway, we had Cynthia Cooper (WorldCom) and a bunch of other excellent guests, but Sammy Antar is a showman, par excellence.</p>
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		<title>By: mhdoc</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175369</link>
		<dc:creator>mhdoc</dc:creator>
		<pubDate>Sun, 24 May 2009 05:05:22 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175369</guid>
		<description>I have been using an Advanta credit card for my small web publishing business.  The rates were decent and the billing statements well thought out.  

Since reading they were shutting down June 10 ? I have been logging in to their website regularly to see if they plan to give card holders any advanced warning.  So far nothing has been said.  The site is still selling their products and services as usual.   Nice.</description>
		<content:encoded><![CDATA[<p>I have been using an Advanta credit card for my small web publishing business.  The rates were decent and the billing statements well thought out.  </p>
<p>Since reading they were shutting down June 10 ? I have been logging in to their website regularly to see if they plan to give card holders any advanced warning.  So far nothing has been said.  The site is still selling their products and services as usual.   Nice.</p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2009/05/securitization-advanta-and-the-fiction-of-true-sale/comment-page-1/#comment-175365</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Sun, 24 May 2009 04:37:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=27336#comment-175365</guid>
		<description>Cursive, 

it was, probably, Sam Antar that you saw.  See: http://www.whitecollarfraud.com/

Chris, 

these types of articles are Great. they, by themselves, prove Lie to the MSM-plaint: &quot;Nobody understands/it can&#039;t made to be understood..&quot;. Yet, lo and behold, here it is!~ A clear, concise, straight-forward explaination of the Scene--that anyone, who was interested in reading, could understand.

Keep nocking those Arrows..</description>
		<content:encoded><![CDATA[<p>Cursive, </p>
<p>it was, probably, Sam Antar that you saw.  See: <a href="http://www.whitecollarfraud.com/" rel="nofollow">http://www.whitecollarfraud.com/</a></p>
<p>Chris, </p>
<p>these types of articles are Great. they, by themselves, prove Lie to the MSM-plaint: &#8220;Nobody understands/it can&#8217;t made to be understood..&#8221;. Yet, lo and behold, here it is!~ A clear, concise, straight-forward explaination of the Scene&#8211;that anyone, who was interested in reading, could understand.</p>
<p>Keep nocking those Arrows..</p>
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