Posts filed under “Legal”

Sesame Street explains the Madoff Scandal

1:18

JimmyKimmelLive March 12, 2009

Category: Humor, Legal

When Smart People Do Dumb Things

Joe Nocera had a brutal — and brutally honest — column today. He essentially states that the Madoff victims were willing accomplishes through their own naivete and bad judgment. “And yet, just about anybody who actually took the time to kick the tires of Mr. Madoff’s operation tended to run in the other direction. James…Read More

Category: Legal, Regulation

Charlie Rose: William Donaldson & the SEC (2003)

The conversation about the SEC with William Donaldson begins at 31:37


2003, 26 minutes

Category: Bailouts, Legal, Video

Madoff in Prison

In all the week’s lunacy, we neglected this story — which can be resolved with a simple cartoon: > via Time Magazine

Category: Humor, Legal

How a Loan Becomes a Scam

The Seattle Times has an interesting look at Mortage fraud cases, showing how real-estate insiders were scamming the system for profit: > How a Loan Becomes a Scam Publish at Scribd or explore others: Finance & Investing Business & Legal mortgages real estat Former Bellevue loan officer is expected to appear for sentencing in federal…Read More

Category: Credit, Digital Media, Legal, Markets, Real Estate

McCain & Shelby: “Let Insolvent Banks Fail”

“Close them down, get them out of business. If they’re dead, they ought to be buried.” -Richard C. Shelby, the senior Republican on the Banking Committee, on ABC’s “This Week” > Thus, the strangely inverted world of bank bailouts continues. Republicans who started the entire lurch towards Socialism under George W. Bush at least understand…Read More

Category: Bailouts, Credit, Legal, Politics, Really, really bad calls

iBanks Grabbed $50 Billion in AIG Bailout Cash

Yesterday, in Backdoor Bailouts for Goldman Sachs?, we noted that GS, as well as Morgan Stanley, Merrill Lynch, and Deutsche Bank, were all made whole on their bad bets with AIG. That’s right, what was misleadingly described as systemic risk turned out to be in large part little more than a counter-party bailout — money…Read More

Category: Bailouts, Corporate Management, Finance, Legal, Markets, Politics, Really, really bad calls

Cramdown Implications

An interview with Paul Van Valkenburg of Mortgage Industry Advisory Corp. regarding the Mortgage “Cramdown” Legislation and what does it implies. (Bloomberg News)

Category: Credit, Legal, Real Estate, Video

Should Ratings Agencies Disgorge “AAA” Fees on Junk ?

A new Bloomberg column on the rating agencies: “Standard & Poor’s called for more regulation of credit-rating companies, recommending a global framework that would eliminate potential conflicts of interest, increase transparency and create an industry code of ethics. New rules should ensure ratings are independently derived and unbiased, the methodologies used are disclosed, and regulators…Read More

Category: Credit, Derivatives, Legal

Big Firm Conflict of Interest: The Penalty Box

Its fairly well known in the traditional retail investment world that the client and the advisor often have opposing, and sometimes contradictory, interests. I sometimes forget just how much so in my little world of boutique asset management (We charge about ~1%). A conversation with a couple of brokers from a large firm that I…Read More

Category: Investing, Legal, Markets