Associated Press carries this article at Yahoo news. The FBI acknowledged it improperly accessed Americans’ telephone records, credit reports and Internet traffic in 2006, the fourth straight year of privacy abuses resulting from investigations aimed at tracking terrorists and spies.The breach occurred before the FBI enacted broad new reforms in March 2007 to prevent future […]
voxbaby has a complete explanation of this chart in trying to decipher numbers and the meaning of unemployment. (Hat tip to reader andrew)
Citigroup has announced changes in business structure, holding mortgages, and rules concerning mortgage origination.
Naked Capitalism has some thoughts and links regarding the negative non-borrowed reserves entering negative numbers. It is too long for me to post easily. Perhaps someone could summarize?
Having installed a cloud widget on the left sidebar, contributors and guest posters should label their contributions from now on so the widget can keep the references updated. Past posts can be labeled at your convenience, such as social security, WTO, global warming, taxes, economists etc.
NEW YORK, Feb. 7 /PRNewswire/ — The Securities Law Firm of Klayman & Toskes, P.A. (“K&T”)(http://www.nasd-law.com) announced today that it continues to investigate sales of collateralized debt obligations (CDOs) from Merrill Lynch (NYSE: MER) and UBS (NYSE: UBS) to institutional investors. These firms sold billions of dollars in CDOs to investors around the world. Some […]
Bloomberg Magazine, in “Unsafe Havens”. (Hat tip to Naked Capitalism.) reports that money market funds run by Bank of America Corp., Credit Suisse Group, Fidelity Investments and Morgan Stanley owned over $6 billion of CDOs with subprime debt in June. The reason this is a serious issue is that money market funds have a $1 […]
The NYT carries this article. (Hat tip to dmarek) IF you’ve stood in line at a farmers’ market recently, you know that the local food movement is thriving, to the point that small farmers are having a tough time keeping up with the demand.But consumers who would like to be able to buy local fruits […]
Hat tip to afferent input for this link: Morality vs. Business Decisions But this is not about morality at all. This is about business decisions. See Moral Obligations Of Walking Away and The Business of Walking Away for more on the morality vs. business decisions. In a nutshell, banks made business decisions to lend money […]
Tanta says: If you have a servicer who is doing a lot of repayment plans, and the MBA data suggests we have that, then you’re going to see a lot of delinquency statuses going “in reverse,” and you’re also going to see, unfortunately, a lot of loans going from 30-days or 60-days down straight to […]