Tag: credit crunch

FOMC Statements : Side by Side Analysis

Last month (September 23) we saw a very small shift in a few of the key areas of the Fed statement. In particular the wording change that showed that the Fed saw economic activity has picked up following its severe downturn from “leveling out.”

They also had the following changes:

Businesses were...

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Banks failing, so they are changing the rules….

The Wall Street Journal is telling us that there is a new game being played by banks to help make their book of businesses, “look” better. It is a desperate move but the problem is the lack of regulation that continues to allow for this latest form of unethical behavior.

David...

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Learning that we never learn: Citibank

“Education costs money, but then so does ignorance.” – Sir Claus Moser

Phew…Only $1.66 billion. It was only a short time ago that a billions dollar payment would be a big concern. Remember back to the 1998 collapse of Long-Term Capital management when an initial $1.8 billion hedge fund loss announcement...

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Fannie and Freddie: Burnt Offerings

There is creativity and then there is desperation. The real question these days is finding that fine line and recognizing the difference.

The FED and the financial powers has thus far been classified as creative in their “handling” of the credit crisis. Yesterday, during a very exciting (?) testimony from...

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Out of the Credit Mess in 1-2-3: Blame, Blame, Blame

This week appeared an interesting article from the Wall Street Journal in which the author suggests that the mortgage brokers are the new villains in the ongoing credit market chaos is just one more piece of bad filler. It seems that the brokers/scapegoats have been tagged as the ones that are originating mortgages with a high level of default. While that may be true, please forgive me, but who ultimately sets the approval standards for these loans?

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