Posts filed under “Bailout Nation”

Lehman’s Bankruptcy: 2 Year Anniversary

I’ve spilled so many pixels on Lehman Brothers, I have almost nothing new left to add.

For those of you newer to the site, however, here are a few of the Big Picture’s “Greatest Hits” regarding Lehman:

• 2 years ago today, we wrote: The Terrible Lessons of Bear Stearns (as applied to LEH)

•  Dick Fuld’s Fantastic Revisionism ! (September 2nd, 2010)

2008 Bailout Counter-Factual (August 17th, 2010)

Charlie Gasparino Owes David Einhorn (and me) an Apology (March 12th, 2010)   (Video here)

Financial Sector: Beware LEH, CIT (June 3rd, 2008)

• There’s lots of Lehman related analysis in Bailout Nation, published May 2009 (reviews here).

Causation Analysis: What “But Fors” Caused the Crisis ? (February 3rd, 2010)

Bailout Skyline (February 2nd, 2010)

Who Bears the Costs of Post-Crisis Recovery ? (January 20th, 2010)

Wages of Failure: Exec Comp at Bear, Lehman 2000-08 (January 11th, 2010)

Bear Stearns, Lehman Execs Kept Billions . . . (November 23rd, 2009)

Anyone interested in an exhaustive review can see every bailout post — all 1,534 of them — by clicking here

Category: Bailout Nation, Bailouts

CrowdQuery: Greatest Mistake of the Crisis ?

In this morning’s NYT column — Lehman’s Last Hours — Andrew Ross Sorkin wrote: “But what is clear is that the politics of the moment played a factor — or at least was discussed among senior and junior staff — in the decision not to lend to Lehman Brothers, perhaps the greatest mistake of the…Read More

Category: Bailout Nation, Bailouts, Financial Press, Really, really bad calls

Dick Fuld’s Fantastic Revisionism !

“Lehman was forced into bankruptcy not because it neglected to act responsibly or seek solutions to the crisis, but because of a decision, based on flawed information, not to provide Lehman with the support given to each of its competitors and other nonfinancial firms in the ensuing days.” -Richard S. Fuld Jr., Lehman Brothers former…Read More

Category: Bailout Nation, Bailouts, Credit, Real Estate, Really, really bad calls

Economic Warning: Cuban Update

Today I managed to annoy two billionaires. It wasn’t my intention, it just happened. The first, we’ll save for a future discussion. The second was Mark Cuban. In this morning’s discussion of sentiment (Celebs’ & Billionaires’ Economic Warnings ?) after dissecting the surprise economic warning from Tony Robbins, I also mentioned Mark Cuban’s “Put your…Read More

Category: Bailout Nation, Markets, Psychology, Trading

SEC Increasing Whistle Blower Payoffs

One of the suggestions I made in the new chapter of Bailout Nation (written for the paperback prior to fin reg passing) was some common sense advice to the SEC: “To root out more corporate fraud, [the SEC] should establish an aggressive whistle blower program that rewards those who identify fraud with a percentage of…Read More

Category: Bailout Nation, Regulation

Simplifying the Financial-Reform Bill

> Stephen J. Dubner, NYT journalist and co-author of the book Freakonomics, asks the following question at the Freakonomics/Times blog: “How Would You Simplify the Financial-Reform Bill? The rules were simple: 5 suggestions, 500 words. The other participants are Nassim Taleb, Justin Wolfers (Professor of Business and Public Policy at the University of Pennsylvania), and…Read More

Category: Bailout Nation, Bailouts, Regulation

2008 Bailout Counter-Factual

Earlier this month, I discussed a NYT OpEd by Treasury Secretary Tim Geithner (Welcome to My Job Security). Geithner pointed approvingly to the report released by Alan Blinder and Mark Zandi, advisers to President Bill Clinton and Senator John McCain, respectively: “The combined actions since the fall of 2007 of the Federal Reserve, the White…Read More

Category: Bailout Nation, Bailouts, Financial Press, Regulation

Fannie Freddie NYT OpEds

There are two OpEds in today’s New York Times regarding the GSEs. One of them is full of insight and intelligence and rationality. The other is by John Carney. The insightful column, Say Goodbye to Fannie and Freddie, was written by former St. Louis Fed president Bill Poole. During the credit bubble and housing boom,…Read More

Category: Bailout Nation, Credit, Federal Reserve, Real Estate, Really, really bad calls

Understanding Context: The Housing Boom & Bust

Over at Economix, Harvard economics professor Ed Glaeser looks at the ultra-low interest rates of the aughts, and does not find them to be much to blame for the US Housing boom and bust: “The most common explanation for the great surge in prices is the availability of easy credit, which took the form of…Read More

Category: Bailout Nation, Credit, Real Estate, Really, really bad calls, Regulation

Hank Paulson: Blame Crisis on FHA/GSEs

Hank Paulson, the criminally inept Treasury Secretary who shoveled trillions of taxpayer dollars to insolvent banks, facilitated the grand theft of some near $20 billion dollars from AIG by Goldman Sachs (where he was previously CEO), is attempting to change the narrative of the credit crisis and collapse. In today’s Washington Post piece, Paulson ignores…Read More

Category: Bailout Nation, Bailouts, Credit, Derivatives