Search Options
close
Search the following clips:
All Clips
Everyone's Clips
My Guides
Sign Up
Install
Learn More
Login
Crony capitalism
BobbyDelray
follow
1
11-29-2007 5:04 PM
190 views
tags:
paul krugman
,
subprime
,
countrywide
,
schumer
,
federal home loan bank
1 Comment
|
Add a Comment
11-30-2007
2:58 PM
kkcapricorn
Business as usual
Login
to Comment. Not a member yet?
Sign up
Related Clips
Emergency Landing, Ron Paul and Congressmen
Rampant Authoritarianism
Ron Paul's GOP Counter-Convention
The Future
Humanae Vitae
Mug shots of the rich an famous
Cubism
More clips from
BobbyDelray
'World's greatest dad' charged in online c...
Was Jimmy Carter an energy prophet?
Cops stop 8K from 'mooning' trains in Cali...
Today's Top Clips
Apollo 14 astronaut claims aliens HAVE made contact
Skeletal Cartoons
6 Plants That Will Grow (Almost) Anywhere
Kurt Vonnegut: How to Write with Style
The Death of HAL –the Evolving Digital Ecosystem
The Future
Beautiful Somerset
What Do Your Genes Say About You? The Future of Personal Genomics
Grow New Body Parts in Your Own Abdomen
Tobacco 'could help treat cancer'
visit the
Top Clips page
View the Top Clips from
November 29, 2007
Embed This Clip In Your Site...
<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e74c459a-1ab6-45a3-b3be-bebde09d4473/469CAD3C-16AA-43F8-A0DD-C5B443CACA6B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/" href="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/" style="font-size: 11px;">krugman.blogs.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/"><P>Crony capitalism rears its ugly head. If <A href="http://www.bloomberg.com/apps/news?pid=20601087&sid=algJDiv8HfXg&refer=home">this</A> is as bad as it looks, the subprime mess has just entered a whole new level of scandal:</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/"><P>Countrywide Financial Corp. fell more than 10 percent in New York Stock Exchange trading after U.S. Senator Charles Schumer urged the regulator of the Federal Home Loan Bank system to probe cash advances to the largest U.S. mortgage lender. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/"><P>Schumer said he was alarmed by the volume of advances the system’s Atlanta bank has made to Countrywide considering “the rapid deterioration'’ in the credit quality of some of the Calabasas, California-based company’s mortgages. Schumer expressed his concerns in a letter sent today to Federal Housing Finance Board Chairman Ronald Rosenfeld. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/"><P>The Atlanta bank has made $51.1 billion in advances to Countrywide as of Sept. 30, representing 37 percent of the bank’s total outstanding advances, Schumer wrote, citing U.S. Securities and Exchange Commission filings. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://krugman.blogs.nytimes.com/2007/11/27/holy-halliburton/"> <A href="http://www.nakedcapitalism.com/2007/11/schumer-demands-investigation-of-fhlb.html">Yves Smith</A> makes an even stronger statemen</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/469CAD3C-16AA-43F8-A0DD-C5B443CACA6B/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
Clipmarks
Home
New Clips
Top Clips
Dashboard
Popular Topics
News
Life
Science
Technology
Entertainment
Get Started
Sign Up
Install Clipping Tool
How Clipping Works
Clip-to-Blog™
ClipSearch
Tools and Resources
FAQ
ClipWeek
Top Clippers
Top Tags
Site Map
About Clipmarks
About Us
Contact
Blog
Copyright
Privacy
EULA
OK
