Random Feed wrote an interesting post today on
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What is actually left in tatters is the Washington policy system By Terence Corcoran A fter two hours locked in a VIP screening room at a Toronto theatre to view Michael Moore’s latest film, Capitalism: A Love Story , I’m feeling pretty good. Generous, even. Advance hype, including copious promotional quotes from Moore himself, has positioned the new Moore epic as a powerful ideological battering ram for the beginning of the overthrow and ultimate destruction of America’s free m

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Random Feed wrote an interesting post today on
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What does one do when your bank is the largest mortgage originator in the country, has outsized exposure to an array of toxic mortgage loans (pay-option ARMs and the like), and is located in the heart of the weakest real estate market nationwide? Call Ghostbusters . . . that is, call on Washington…

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Random Feed wrote an interesting post today on
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by Rebecca Wilder Actually, murky is something of a good thing when referring to business cycle dynamics. It usually means that a bottom is forming. In some sense, the key to recovery is the stabilization of home values. If home values would just “stop” declining – I understand that there is a market mechanism going on here that is pushing home values to (or even below) an equilibrium – then the banking system can get on with its solvency issues. ( Naked Capitalism has a nice piece today on b

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Random Feed wrote an interesting post today on
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We reported earlier that 19 banks were OK’d by the Treasury to pay back the TARP funds that were injected in to them during the first round of the bailout. According to the naked capitalism here are the banks that passed stress tests and will get to pay their TARP funds back : The institutions are the following: Passed the stress tests: JPMorgan Chase & Co., American Express Co., Goldman Sachs Group Inc., U.S. Bancorp, Capital One Financial Corp., Bank of New York Mellon Corp., Sta

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Random Feed wrote an interesting post today on
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Capitalism and the Cheating Ethic By Steven Malanga The further we get from the housing bubble that helped to prompt our current financial meltdown, the less we seem bothered by the decline in trustworthiness and the rise in cheating that fueled the irrational exuberance of the home mortgage market. And then along comes New York Times reporter Edmund Andrews to remind us of that era via his own personal story of attempted mortgage deception and borrowing irresponsibility. If you

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