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- The Financial Sector That We Want
- http://rortybomb.wordpress.com submits: Have you seen this graph? There’s a lot of talk about this-or-that kind of banking regulation, how or why we should cap sizes or exposures. I think it is important to often go one level higher than that - what do we expect...
- External links 2009-04-02
- American Enterprise Institute and Consumer Financial Protection
- http://rortybomb.wordpress.com submits: So Peter Wallison of the American Enterprise Institute (AEI) has an opinion piece, Elitist Protection Consumers Don’t Need, in the Washington Post, arguing against the Consumer Financial Protection Agency (h/t Nick Schulz). Mark Thoma and Richard Green give it a critical look; I’ll add my...
- External links 2009-07-15
- Catching Up on Goldman Sachs and CIT
- http://rortybomb.wordpress.com submits: Everyone talked about this already, so I’m late to the party. Goldman I want to make sure that anyone who missed it before catches it now: Matt Taibbi on Goldman’s profits. I’ve had a rough draft of an essay trying to walk...
- External links 2009-07-18
- On Financial Engineering and Financial Innovation
- http://rortybomb.wordpress.com submits: Robert Shiller in The New York Times: The subprime mortgage is an example of a recent invention that offered benefits and risks. These mortgages permitted people with bad credit histories to buy homes, without relying on guaranties from government agencies like the Federal Housing Administration....
- External links 2009-07-21
- Banks and Rational Betting
- http://rortybomb.wordpress.com submits: Peter Wallison responds to the defense of the Consumer Financial Protection Agency by Elizabeth Warren over at the BaselineScenario. Here is Wallison: The irony here is that Warren is not herself perceptive enough to understand what the consumers who took the subprime mortgages actually...
- External links 2009-07-29
- Credit Card Overcharge Fees: RIP?
- http://rortybomb.wordpress.com submits: From The New York Times: The noxious penalty imposed on American Express and Discover consumers who exceeded their spending limit has finally died, quashed by legislation signed in May by President Obama to ease onerous fees for cardholders. In recent days, American Express customers began...
- External links 2009-08-12
- Rising Foreclosures: The Numbers and the Reality
- http://rortybomb.wordpress.com submits: Two more points about foreclosures: MBA Economists estimates are that the foreclosure crisis will a spread to the much larger and much more previously secure prime market so not just subprime and b foreclosure rates will peak sometime in late 2010. by Rortybomb
- External links 2009-08-21
- Extend and Pretend and Recovery Risk
- http://rortybomb.wordpress.com submits: Rolfe Winkler writes: Banks argue that loans should not be marked down if they’re still “performing.” As long as borrowers are meeting their contractual obligations, there’s no reason to take a writedown…This is how we become Japan. Emergency bailout facilities allow banks that...
- External links 2009-08-26
- John Pattow on the CFPA and Small Banks
- http://rortybomb.wordpress.com submits: University of Michigan Law Professor John Pattow, who specializes in Bankruptcy and Commercial Law, talks about the effects of a Consumer Financial Protection Agency (CFPA) on small banks: Leaving aside the irony of the ABA’s new-found populism, the real objection to this argument is that...
- External links 2009-09-13
- Wal-Mart and Offering Employees 'Strategic' Healthcare
- http://rortybomb.wordpress.com submits: Wal-Mart came out in favor of an “employer mandate” approach to health insurance, in which employers are forced to purchase health care for their employees. Now I’m more of a public option kind of guy. I didn’t vote for Obama so Wal-Mart WMT lawyers could go ahead...
- External links 2009-07-02
- What Were Subprime Loans Modeled On?
- http://rortybomb.wordpress.com submits: Even after the CJR demolished it, John Cagney lays out his full theory on how the CRA caused so many subprime loans here. I think this is an important point to clarify, as it’s going to float out there in the popular consciousness. It’s a good question...
- External links 2009-06-29
- Reverse Convertibles vs. Consumer Protection
- http://rortybomb.wordpress.com submits: Since we’ve already run new stress tests out of this webpage, I’m going to go ahead and run the Consumer Protection Agency out of the Rortybomb Blog while President Obama and team continue to get the legislation worked out. (If I keep doing Elizabeth Warren’s homework for...
- External links 2009-06-18
- Paper Companies Gaming the Tax Credit System?
- http://rortybomb.wordpress.com submits: Wow, from Chris Hayes: Thanks to an obscure tax provision, the United States government stands to pay out as much as $8 billion this year to the ten largest paper companies. And get this: even though the money comes from a transportation bill...
- External links 2009-04-04
- Gaming PPIP: Best Minds of My Generation Could Be Working On It
- http://rortybomb.wordpress.com submits: 1) Though they didn’t use this language, I think The Economist hinted that the PPIP-gaming critics, including myself, are being a bit Glenn Beck Doom Bunker about their analysis. PPIP Doomsday Scenario XVII: Werewolf Congress! Ha! The Economist: Given how absurdly bad those scenarios...
- External links 2009-04-07
- Mortgage Resets: One Shoe Dropping
- http://rortybomb.wordpress.com submits: Atrios is concerned that there will be a second wave of foreclosures when the next wave of option ARMs reset: Option ARM rates are going to be recasting soon and in increasing numbers. That’s the magic moment when people can no longer make minimum payments,...
- External links 2009-05-08
- More on Banks Gambling on Real Estate: Ban Prepayment Penalties
- http://rortybomb.wordpress.com submits: The Economist does a great follow up on the posts for Friday, about thinking of subprime loans as also reflecting a collapse of prime mortgages. One surprising thing about subprime borrowers is that up until the mid 2000s most loans were used to refinance rather than purchase...
- External links 2009-05-13
- Ten Year Inflation Worries
- http://rortybomb.wordpress.com submits: Since last week was a work deadline, I missed all the fun. I’m late to the inflation worries debate, but I think Martin Wolf got it right: what is the disagreement? Prof Ferguson made three propositions: first, the recent rise in US government bond...
- External links 2009-06-09
- Regulation Week: What Causes a Financial Crisis?
- http://rortybomb.wordpress.com submits: Two comments I want to follow up on from last week’s DIY Stress Test fun. One is from qrst over at seekingalpha: [Me:] “If BoA needs another $75bn, that will have to come from the government.” by Rortybomb
- External links 2009-06-16
- Regulation Week: Is Regulation a Good Thing for Investors?
- http://rortybomb.wordpress.com submits: So this week we see the new financial regulation dropping, so I’ll be dedicating the next couple of blog posts to that very subject. We are going to do some heavy lifting together, so let’s start out with a warm-up exercise. Some regulatory stretching for our minds....
- External links 2009-06-16
- Regulation Week: What Do Consumers Need Protection From?
- http://rortybomb.wordpress.com submits: Sigh. So much for a Justice League of financial regulators. It looks far more like the Articles Of Confederation. Felix Salmon has the scoop: ” FOSC = NBS + FDIC + NCUA + SEC + CFTC + FHFA + FOMC + CFPA...
- External links 2009-06-17
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