Donklephant » Banks

Alt-A Mortgage Backed Securities Downgraded

By Justin Gardner | Related entries in Banks, Economy, Housing, Money

Remember when I highlighted a 60 Minutes piece back in December that talked about this?
Well, now it’s happening.
From WSJ via Calculated Risk:
Standard & Poor’s Ratings Service on Monday placed its ratings on $552.8 billion worth of U.S. first-lien Alt-A residential mortgage-backed securities issued between 2005 and 2007 on watch for downgrade, saying it sees an [...]

March 10th, 2009 | Permalink| 3 Comments »

Republicans Call For Banks To Fail

By Justin Gardner | Related entries in Banks, McCain, Republicans

And so it begins…
“Close them down, get them out of business. If they’re dead, they ought to be buried,” Sen. Richard Shelby, the Ranking Republican on the banking committee, told ABC’s This Week. “We bury the small banks â€” we’ve got to bury some big ones, and send a strong message to the market.” He [...]

March 9th, 2009 | Permalink| 9 Comments »

Too Big

By donar | Related entries in Bailouts, Banks, Cartoons, Economic recovery, Economy, Fiscal stimulus, Political Graffiti

March 4th, 2009 | Permalink| 2 Comments »

Nationalization Not A Viable Strategy?

By Justin Gardner | Related entries in Banks, Money

I’ve been wary of nationalization because, while I think there’s some logic to it, I question the idea of completely wiping out shareholders. Basically, it seems like an action like that could create a domino effect that would send the Dow spiraling out of control.
William M. Issac, somebody who has done this type of thing [...]

March 2nd, 2009 | Permalink| 6 Comments »

Charlie Rose Talks To Larry Summers, Nouriel Roubini, Mark Zandi, and Fred Mishkin

By Justin Gardner | Related entries in Banks, Economy, Housing, Video

The topic?
Their favorite restaurants in D.C.
No, of course it’s the economic crisis and the housing situation and the banks and TARP and and and and and and…

Most of the pundit shows really don’t have the time to give complicated topics like the economic crisis the attention they deserve. So what we usually see is [...]

February 20th, 2009 | Permalink| No Comments »

Quote Of The Day – On Bank Nationalization

By Justin Gardner | Related entries in Bailouts, Banks, Barack, Economy, Quotes

“It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring. I understand that once in a hundred years this is what you do.”
- Alan Greenspan in an interview with Financial Times
Here’s more…
Mr Greenspanâ€™s comments capped a frenetic day in which policymakers across the political spectrum appeared to [...]

February 18th, 2009 | Permalink| 2 Comments »