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How Goldman Sachs helped mask Greece’s debt

Gary Lacey — Wed, 22 Feb 2012 23:58:03 +0000

“Nick Dunbar, author of The Devil’s Derivatives, revealed how the country turned to investment bank Goldman Sachs for help getting around the deficit rules.”

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How Goldman Sachs helped mask Greece’s debt

How to Kill the Volcker Rule: Just Add Fat

Gary Lacey — Wed, 22 Feb 2012 23:47:47 +0000

“They couldn’t kill the rule. Instead, they are getting Congress and regulators to render it morbidly obese and bedridden.”

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How to Kill the Volcker Rule: Just Add Fat

More DeMarco Outrage: You Won’t BELIEVE Who He’s Considering for Fannie CEO

Gary Lacey — Wed, 22 Feb 2012 23:44:15 +0000

“As we wrote last week, DeMarco is single-handedly blocking relief for millions of struggling homeowners and is using deception to justify his actions. He refuses to allow Fannie Mae and Freddie Mac, the two government-sponsored enterprises he now directs, to reduce principal or even interest rates.

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More DeMarco Outrage: You Won’t BELIEVE Who He’s Considering for Fannie CEO

Fannie, Freddie legal fees: $110 million and counting

Gary Lacey — Wed, 22 Feb 2012 23:42:29 +0000

“A watchdog agency said Wednesday that the legal tab for former leaders of mortgage finance giants Fannie Mae and Freddie Mac is at least $110 million. And taxpayers have paid at least $47 million of it, according to an Office of Inspector General of the Federal Housing Finance Agency report.”

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Fannie, Freddie legal fees: $110 million and counting

Strauss-Kahn Questioned by French Police

Gary Lacey — Wed, 22 Feb 2012 23:39:29 +0000

“Mr. Strauss-Kahn presented himself at the police station at 9 a.m. Tuesday, said a spokeswoman at the Lille prosecutor’s office.

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Strauss-Kahn Questioned by French Police

Mortgage Application Volume Fell 4.5%: MBA

Gary Lacey — Wed, 22 Feb 2012 23:38:00 +0000

Mortgage application volume contracted by 4.5 percent from the week before, according to the Mortgage Bankers Association. The Market Composite Index, a measure of volume for loan applications, fell 3.6 percent on a seasonally adjusted basis, according to the MBAâ€™s weekly survey. Seasonally adjusted purchases declined by 2.9 percent from the week before and rose by 1.4 percent on an unadjusted basis.

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Mortgage Application Volume Fell 4.5%: MBA

Two Wall Street Players Ensnared in New Probe

Gary Lacey — Wed, 22 Feb 2012 23:19:41 +0000

“The men, Alexander Rekeda and Timothy Day, are both affiliated with Guggenheim Capital, a privately held, financial services company that does everything from trading securities to providing investment advice.

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Two Wall Street Players Ensnared in New Probe

Greek Crisis Raises New Fears Over Credit-Default Swaps

Gary Lacey — Wed, 22 Feb 2012 22:02:51 +0000

“The last time this financial instrument was on the global stage was in 2008, when the American International Group’s credit-default swaps brought the insurer, as well as the wider financial system, to the brink of collapse. A.I.G

New York Courts to Intensify Efforts to Prevent Foreclosures

Gary Lacey — Wed, 22 Feb 2012 22:01:10 +0000

“New York State’s courts, frustrated by delays in thousands of foreclosure cases, are planning to speed them along in a new program that would give judges added control and require banks to send officials who have the power to alter loans to keep people in their homes.”

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New York Courts to Intensify Efforts to Prevent Foreclosures

As US Debt To GDP Passes 101%, The Global Debt Ponzi Enters Its Final Stages

Gary Lacey — Wed, 22 Feb 2012 21:46:42 +0000

“Today, without much fanfare, US debt to GDP hit 101% with the latest issuance of $32 billion in 2 Year Bonds…

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As US Debt To GDP Passes 101%, The Global Debt Ponzi Enters Its Final Stages