DECEMBER 28, 2011 When is a loan between central banks not a loan? When it is a dollars-for-euros currency swap. By GERALD P. O’DRISCOLL JR.Mr. O’Driscoll, a senior fellow at the Cato Institute, was vice president at the Federal Reserve Bank of Dallas and later at Citigroup. EXCERPT FROM THIS ARTICLE: First, the Fed has […]
THE FEDERAL RESERVE’S COVERT BAILOUT OF EUROPE Read More »
DECEMBER 28, 2011, 7:28 A.M. ET The Fannie and Freddie Hate Storm A dubious prosecution but it helps set the record straight. By HOLMAN W. JENKINS, JR. EXCERPT FROM THIS ARTICLE: So where ultimately do Fannie and Freddie rank amid the confluence of ridiculous subsidies, private-sector opportunism and ungovernable global capital flows that contributed to
THE FANNIE AND FREDDIE HATE STORM Read More »
DECEMBER 23, 2011 What Fannie and Freddie Knew The SEC shows how the toxic twins turbocharged the housing bubble. Democrats have spent years arguing that private lenders created the housing boom and bust, and that Fannie Mae and Freddie Mac merely came along for the ride. This was always a politically convenient fiction, and now
THE TOXIC TWINS – WHAT FANNIE AND FREDDIE KNEW Read More »
DECEMBER 21, 2011 The Financial Crisis on Trial The SEC fingers the government-backed mortgage buyers, not Wall Street greed. By PETER J. WALLISON The Securities and Exchange Commission’s lawsuits against six top executives of Fannie Mae and Freddie Mac, announced last week, are a seminal event. For the first time in a government report, the
THE FINANCIAL CRISIS ON TRIAL – FANNIE AND FREDDIE Read More »
DECEMBER 12, 2011 In the U.S. mortgage crisis and the European sovereign debt crisis, bad policies subsidized bad investments. By L. GORDON CROVITZ EXCERPT FROM THIS ARTICLE: The reason prosecutors can’t prove criminal intent is that in many cases the bankers were simply trading in compliance with the regulations governing them. Art imitates life, even
FINANCIAL REGULATION: WORSE THAN A CRIME Read More »
DECEMBER 2, 2011 His Comments in Support of the Mortgage Giant’s Business Model Came as Housing Bust Was Dragging Down Company By NICK TIMIRAOS and PATRICK O’CONNOR Former House Speaker Newt Gingrich touted the virtues of Freddie Mac’s business model in an interview published by the company in April 2007, remarks that contrast with the
GINGRICH BACKED FREDDIE IN 2007 INTERVIEW Read More »
US NEWS & WORLD REPORT December 1, 2011 by Rick Newman The bank bailouts in 2008 and 2009 were controversial because wealthy bankers seemed like the last people who needed help. Now, the Federal Reserve and other central banks are rescuing one group held in even lower regard than bankers: politicians. [See 11 dates investors need
THE FEDERAL RESERVE, NOW BAILING OUT POLITICIANS Read More »
NOVEMBER 26, 2011 New Strains Hit Euro, Global Markets Common Currency Falls After Italy’s Borrowing Costs Soar; Coming Week Poses Key Test of Sentiment By STACY MEICHTRY and JONATHAN CHENG ROME—Uncertainty in financial markets deepened as Italy’s borrowing costs soared to euro-era highs and Prime Minister Mario Monti said European leaders understood an Italian collapse
– Zombie – http://pjmedia.com/zombie – . The 99%: Official list of Occupy Wall Street’s supporters, sponsors and sympathizers Posted By Zombie On October 31, 2011 The Occupy Wall Street movement has received so much media coverage in recent weeks that it’s nearly impossible to keep abreast of all the developments. So many endorsements and criticisms
THE 99% – OFFICIAL LIST OF OCCUPY WALL STREET’S SUPPORTERS, SPONSORS AND SYMPATHIZERS Read More »
