5
POPSGreenspan foresees Rise in Unemployment He went on: “And remember that what makes an economy great is a combination of the capital assets of the economy and the people who run it. And if you erode the human skills that are involved there, there is a real and in one sense an irretrievable loss.” The “silver lining” to the jobs report, he said, is that after the collapse of Lehman Brothers last year and a plunge in stock markets, businesses laid off too many people in anticipation of a drastic slowdown in the economy. Some of those jobs will have to be restored. “At some point we’re going to start to see an improvement in employment,” he said.
0
POPSIndymac Bank Read more details about IndyMac Bank, a bank that provides a number of home mortgage products that are mostly first lien residential loans and huge full-documentation loans and home equity lines of credit.
1
POPSNO CHANGE ON WALL-STREET=MORE PROBLEMS TO COME The refusal to sign on with Europe for stronger regulation of the financial markets, America and England are set to screw the world again. The House and the Senate have no backbone and think Americans are stupid.
7
POPSEconomic signs: Washington may have gotten it right "evidence is now pointing pretty strongly in one direction: history books may conclude that the financial crisis of 2008 turned out to be far less bad than it could have been and that Washington deserved much of the credit"
6
POPSGoldman Sachs The Wizard of Oz and primed to spearhead an assault on the mortgage banks, bringing suits against any suspected of practicing unlawful discrimination, whether on the basis of race, gender or disability." Goldman Sachs played a major hand in these Clinton-era financial policies through Robert Rubin, former Co-Chairman of the firm, who actually announced them on December 8, 1993. Taibbi wrote in Rolling Stone: During his (Robert Rubin's) tenure at Treasury, the Clinton White House made a series of moves that would have drastic consequences for the global economy - beginning with Rubin's complete and total failure to regulate his old firm during its first mad dash for obscene short-term profits. Taibbi adds that other Goldman graduates played a major hand when the market crashed, including another Goldman-ex turned Treasury Secretary, Henry Paulson: Paulson elected to let Lehman Brothers -- one of Goldman's last real competitors -- collapse without intervention...
8
POPSCan email patterns within a company signal impending doom? This study was based primarily on email patterns amongst employees of Enron before the collapse. Would be fascinating to know if similar patterns were evident at Lehman Brothers, Bear Sterns and other financial firms leading up to their collapse. If so, you have to wonder if the public will ever be privy to this kind of data (anonymously) in real-time as a way to anticipate and avoid financial loss.
8
POPSObamagic-Making Money Disappear! . . . $9,000,000,000,000 To Be Exact Translation: Nobody at the Fed knows where the money went. Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed. “I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer. What about the trillions of off-balance transactions since last September, Grayson asked. Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve. Grayson pointed out that it was the inspector general’s job to audit such spending and asked again if the office had done any investigation at all. Coleman’s answer: Not enough yet to even respond. “We are not in a position to say if there losses.” Grayson concluded, “I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this.
0
POPSMurdoch's Newspaper (Losses) With advertising moving over to other forms how long will it be before we see the demise of the number and variety of newspapers. Are journalists being disintermediated? Undoubtedly with our current downturn the value chains are changing.
6
POPSCongress Should Wear T-Shirts With Endorsements With Congress pounding away at Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke for more transparency, and New York Attorney General Andrew Cuomo threatening to release the names of the AIG bonus recipients -- an invasion of privacy that has no relevance to anything -- isn’t it time Congress let a little sun shine in?
6
POPSIncompetent Bush Then/Corrupt Obama Now One of Obama's 2 Ratners who like da kickback! Sure sign you have too many corrupt connections: You start to double up on same name individuals who take kickbacks. See clip of the other Ratner with NYT/ACORN connections accused of shady dealings and taking kickbacks. That one is Bruce and this one is Steve.
5
POPS25 People to Blame for the Financial Crisis
Rebubbacans and Ayn Rand disciples abound. Kathleen Corbet Corbet ran the largest agency, Standard & Poor's, during much of this decade, though the other two major players, Moody's and Fitch, played by similar rules. By slapping AAA seals of approval on large portions of even the riskiest pools of loans, rating agencies helped lure investors into loading on collateralized debt obligations (CDOs) that are now unsellable. Dick Fuld steered Lehman deep into the business of subprime mortgages Lehman even made its own subprime loans. The firm took all those loans, whipped them into bonds and passed on to investors billions of dollars of what is now toxic debt. Marion and Herb Sandler In the early 1980s, became the first to sell a tricky home loan called the option ARM. And they pushed the mortgage, which offered several ways to back-load your loan and thereby reduce your early payments, over the next two decades. pocketed $2.3 billion when they sold their bank to Wac
4
Pops
Newest Clips
Latest Comments
Most Pops
Print
Save
Turn on live update