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  • Wall Street Breakfast: Must-Know News [View article]
    So, while we have all been watching health care, the magicians on Wall Street (and in Treasury) continue to rape the economy. Where is Financial Reform? What was the public's priority when this administration came into power?
    Oct 14 14:58 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    One has to wonder why the regulatory reform proposals have not included reversion to the earlier practice of having the buyers of bonds pay a small fee to compensate the rating agencies, rather than the current practice. It would make S&P, Moody's, and Fitch more boring places to work, but there must be some green eye shade accountants who would take the gig. With this so obvious and easy, why hasn't this been done? I cannot think of any constituency that wants it this way.
    Jul 15 10:55 am |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    There are four dimensions to this mess. Paulson understood one (that related to investment banking), and asked for a blank check to deal with it. Thank God that the Europeans understood it more broadly, and that there are people like Sheila Bair at FDIC.
    1. The toxic mortgage stuff that the investment banks created, Fannie/Freddie supported, and AIG insured.
    2. Bank and money market deposits. Thanks Sheila.
    3. Bank capitalization. Thanks. Gordon Brown.
    4. Bank overnight lending. Not important to an investment banker.

    Where was the contingency planning?
    Oct 15 08:53 am |Rating: 0 0 |Link to Comment
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