CDOs remain shrouded in secrecy, their financial reports remain hidden from public view, unavailable to anyone except actual CDO investors. Bloomberg's coup was to pierce that veil of secrecy, and to drill down into the details of one CDO.
If you want to understand the economic crisis, there are several hundred 250-page books for you to read. If, on the other hand, you want a one-page explanation, this is it.
A deeper examination of the relationship between all the audit firms and their clients on the issue of risk-obfuscation is needed. Limiting any inquiry to Lehman alone is inadequate. To start, here are a few simple questions.
If government had allowed markets to operate as Bear and Lehman went down, all of the big financial institutions would also have collapsed. As Bernanke now apparently realizes, that would have been a good thing.
Wall Streeters who get millions in bonuses to know better are still trading in derivatives. Nothing is preventing another financial collapse, when Wall Street will come crying to Washington for a new $700 billion
We believe that the Valukas report cries out for an immediate Congressional investigation. As we did with A.I.G., we demand the release of the e-mails and internal documents from the New York Fed and Lehman executives.
It's been eighteen months since AIG collapsed, and Congress has yet to seriously focus on the most important questions: What did they know and when did they know it?
I'd date the end of trust from March 14. That's because every key player in Washington involved with the bailouts knew the AIG bonuses were coming down the pike but none dared tell the public.
Main Street is absolutely flabbergasted that bankers do not understand the core issues of this bonus question. Allow me to clearly outline the problem and propose a solution.
Credit default swaps are not insurance. If you buy fire insurance on your home, you must own the house. If you buy credit protection on the United States, however, you do not need to own U.S. Treasury bonds.
HuffPost Editor Roy Sekoff appeared on "The Ed Show" Thursday evening to weigh in on today's college protests against funding cuts. Sekoff argued t...
If Warren Buffett has an opinion on what needs to be included in the current health care bill, he should either say so or not comment at all.
The European Union is shocked -- shocked I tell you! -- that Greece used financial engineering to qualify for admission. Exactly how did they think that weaker countries managed to meet the requirements?
Here's the deal. Hedge funds are betting the Euro will crash against major currencies. The "short-Euro" trade, however lucrative to the gods of Greenwich, raises scary questions with one thing in common.
A recent statement by Corzine, labeling Goldman an industry leader, speaks volumes about how Americans feel about our financial institutions. No, Governor Corzine, its not about envy. Its about character.
So, Mr. Bernanke and President Obama, put the money where it should be, in the hands of people who will build businesses, hire people, and build the economy.