Elizabeth Warren was originally slatedto head the CFPB. This is the best picture‘Puter could find of her. It’s stunning how closely Sen. Warren resembles her ancestorChief Wahoo, noble mascot of MLB’s totallynot racist Cleveland Indians. Unless you’re in the financial … Continue reading →
Can someone explain to the Czar who the foxtrot puts a charlie foxtrot like Barney Frank in charge of the U.S. House of Representatives Financial Services Committee? Is it the deep commercial banking experience he lacks? Or the investment management … Continue reading →
The solution to the Freddie Mac and Fannie Mae mess is to move all the bad loans off book. Or so thinks the Obama Administration. You see, the problem isn’t that political motivations caused quasi-governmental entities to make (purchase) and … Continue reading →
Given this following video, how can we believe that the democrat-led Congress knows how to help the economy? They ignored warnings from the Bush White House repeatedly. They claimed that FreddyMac and FannieMae were not in trouble. So now, we … Continue reading →
Doctor, I think the patient may be showing a will to live. We gotta wait a week to see if he really deserves his belt and shoelaces back, though. Confucius, Œc. Vol.Don’t ask impertinent questions like that jackass Adept Lu. … Continue reading →
So, Republicans, you were all happy-clappy that John McCain seemed to have lost the self-destructive instinct that caused him to, say, rip into a major segment of the GOP base in the 2000 South Carolina primary. Guess what? His love … Continue reading →
…of the regulatory mess that created the mortgage meltdown. It gets a little partisan and histrionic (though not wrong, I’d wager) at the end, but it’s worth watching all the way through. UPDATE: And for a more precise explanation of … Continue reading →
‘Puter agrees (mostly) with The OEV’s post below. To clarify ‘Puter’s position a bit, this new-found government focus on elimiation of moral hazard certainly changes the rules of the game, making taxpayers implicit guarantors of private equity’s risks. We all … Continue reading →
Sen. Obama is running ads and preaching that the Fannie Mae / Freddy Mac debacle and subsequent bailouts are due to failed Bush policies. Now, I won’t defend the current administration as being fiscally conservative. In fact, I agree with … Continue reading →
For all your housing-market-induced-meltdown news, here’s the Mortgage Lender Implode-O-Meter. Confucius, Œc. Vol.Don’t ask impertinent questions like that jackass Adept Lu. gormogons.com
Continue reading →I was doing a little light reading in between coughing fits and stumbled upon* today’s article in The Week by Gormogon favorite David Frum. I’ll clip a few highlights here, but it’s worth the extra click or two to pop … Continue reading →
Apparently John McCain has been hammering the government-backed profit machines for a while. This is promising; if he wins, it shows that he might not succumb to the usual Washington madness of re-regulation and subsidy. McCain’s not deeply versed in … Continue reading →
The Volgi, who once spent a day moving stuff around in Fannie Mae’s office-supply room, is waiting for the baying of the congressional hounds for Franklin Raines and Jaime Gorelick to go to jail, like Ken Lay and the Enron … Continue reading →
The Wall Street Journal is reporting that the gubbamint is preparing to take over Fannie Mae and Freddie Mac. Hold on to your wallets. Years of mismanagement and borderline fraudulent accounting practices, coupled with an implicit federal guarantee of Fannie … Continue reading →
