Posts filed under “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

Former Bellevue loan officer is expected to appear for sentencing in federal court after pleading guilty to conspiracy in connection with submitting fraudulent loan applications to lenders. His sentencing comes as law-enforcement agencies are being inundated by banks with suspected mortgage-fraud reports.


How a loan becomes a scam
Sanjay Bhatt
Seattle Times, February 27, 2009 at 12:00 AM

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

Interactive Bank Failure Map

Nice interactive map, via > > Source: Interactive Bank Failure Map Philip van Doorn 02/17/09 – 11:20 AM EST

Category: Corporate Management, Credit, Legal, Regulation

Options for Auto Bankruptcy

> Sources: Bankruptcy Funding Solicited for Car Makers JEFFREY MCCRACKEN and JOHN D. STOLL WSJ, FEBRUARY 23, 2009, 1:16 A.M.

Category: Bailouts, Credit, Digital Media, Legal

Marijuana Inc.

Inside America’s Pot Industry



Category: Legal, Video

Merrill Lynch Bonus Investigation

New York State Attorney General Andrew Cuomo is none too happy with $4 billion in recent Merrill Lynch bonuses! Enjoy: > AG Cuomo. MERpdf Publish at Scribd or explore others: Finance & Investing Business & Legal executive compensati

Category: Corporate Management, Digital Media, Legal, Markets, Wages & Income