Monthly Archives: May 2011

May 31, 2011

• Guest Post: Update on the Japanese Nuclear Crisis … Not a Pretty Picture
  by George Washington 3:11 pm

• Quelle Surprise! Consumer Confidence Falls on Oil Prices, Housing, Job Outlook
  by Yves Smith 1:46 pm

• Links 5/31/11
  by Yves Smith 3:24 am

• Philip Pilkington: Economics as morality play – Why commentators and politicians treat economics as a subjective enterprise
  by Yves Smith 2:30 am

• Are Fissures in Europe Worse Than Media Reports Suggest?
  by Yves Smith 2:24 am

• How Durable is Trust in Public Institutions?
  by Yves Smith 1:36 am

May 30, 2011

• Strauss-Kahn’s Defense, In Two Easy Pictures
  by Yves Smith 9:40 pm

• Links Memorial Day
  by Yves Smith 5:19 am

• Stephanie Kelton: What Happens When the Government Tightens its Belt?
  by Yves Smith 5:11 am

• Will Greeks Defy Rape and Pillage By Barbarians Bankers? An E-Mail from Athens
  by Yves Smith 1:31 am

May 29, 2011

• Links 5/29/11
  by Yves Smith 4:02 am

• Morgenson Runs Peterson Institute Propaganda Against “Entitlements” Meaning Medicare and Social Security
  by Yves Smith 3:45 am

• A Better Way to Make Bankers Pay for Crises?
  by Yves Smith 3:27 am

May 28, 2011

• Links 5/28/11
  by Yves Smith 3:08 am

• We Speak on BNN About the US Housing Market
  by Yves Smith 2:07 am

• Versus EconoParody on Dominique Strauss-Kahn
  by Yves Smith 2:04 am

May 27, 2011

• Michael Hudson: Breakup of the euro? Is Iceland’s rejection of financial bullying a model for Greece and Ireland?
  by Yves Smith 9:30 am

• Links 5/27/11
  by Yves Smith 4:28 am

• Fed’s Use of $80 Billion Facility as Subsidy Vehicle Confirms Regulatory Deficiencies
  by Yves Smith 3:00 am

• Warren Groundswell Pressures Administration to Make Recess CFPB Appointment (Updated: Panicked Republicans Keep Senate Open for Business)
  by Yves Smith 1:42 am

May 26, 2011

• Wikileaks: Saudis Warned About Oil Speculators in 2007 and 2008
  by Yves Smith 11:32 pm

• Links 5/26/11
  by Yves Smith 2:48 am

• Marshall Auerback: To Save the Euro, Germany Has to Quit the Eurozone
  by Yves Smith 1:37 am

• Tough Swiss Regs Induce UBS to Consider Glass Steagall Lite Partition, So Risky Ops May Become US Problem
  by Yves Smith 1:11 am

• Fed Investigating Goldman Over Possible HAMP Mortgage Mod Violations
  by Yves Smith 12:09 am

May 25, 2011

• Guest Post: IAEA Knew Within Weeks of Japanese Earthquake that Reactors Had Melted Down … Public Not Told for a Month and a Half
  by George Washington 6:49 pm

• Links 5/25/11
  by Yves Smith 5:31 am

• Why Are Republicans So Keen to Persecute Elizabeth Warren?
  by Yves Smith 5:00 am

• Mark Provost: Why the Rich Love Unemployment
  by Yves Smith 4:33 am

• Former Treasury Restructuring Official Supports View That Dodd Frank Resolution is Failure Prone
  by Yves Smith 4:15 am

• Row Over New IMF Chief Intensifies (Updated)
  by Yves Smith 12:01 am

May 24, 2011

• Greece must restructure
  by Edward Harrison 9:34 am

• Links 5/24/11
  by Yves Smith 4:26 am

• Philip Pilkington: Beyond growth – are we entering a new phase of economic maturity?
  by Yves Smith 4:12 am

• Bill Black: In Praise of Sorkin’s Praise of Lowenstein’s Praise of Financial CEOs
  by Yves Smith 1:23 am

May 23, 2011

• Matt Stoller: More Embers Striking Up Against the Global Liquidation
  by Yves Smith 3:57 pm

• California Establishes Mortgage Fraud Task Force
  by Yves Smith 3:29 pm

• Links 5/23/11
  by Yves Smith 3:38 am

• Federal Court in Texas Deals a Potentially Serious Blow to MERS
  by Yves Smith 3:21 am

• More Worries About the Foreclosure Overhang
  by Yves Smith 2:51 am

• Battle Over IMF Chief: Proxy War Over Power of Banks?
  by Yves Smith 12:16 am

May 22, 2011

• Links 5/22/11
  by Yves Smith 3:00 am

• Quelle Surprise! SEC Worked Hard to Ignore Warnings of Subprime Fraud
  by Yves Smith 2:03 am

May 21, 2011

• Taibbi: “US Politics – Reality Show Sponsored by Wall Street”
  by Yves Smith 3:18 pm

• Links 5/21/11
  by Yves Smith 3:10 am

• Guest Post: More oil, less democracy – Evidence from worldwide crude oil discoveries
  by Yves Smith 3:07 am

• Lawyers Threatened With Sanctions for Talking About Foreclosure Abuses
  by Yves Smith 2:43 am

May 20, 2011

• Links 5/20/11
  by Yves Smith 6:48 am

• Former LPS Employees Allege 30% to 78% Error Rate in Borrower Mortgage Records, Contradicting Banker/Regulator Cover-Up
  by Yves Smith 6:12 am

• Rajat Gupta and McKinsey’s Dented Reputation
  by Yves Smith 4:23 am

May 19, 2011

• Florida Kangaroo Foreclosure Courts Likely to Fold
  by Yves Smith 5:25 pm

• Links 5/19/11
  by Yves Smith 5:14 am

• Registrars of Deeds as Unexpected Foot Soldiers Fighting Mortgage Abuses?
  by Yves Smith 5:02 am

• Marshall Auerback: IMF’s Predatory Policies Likely to Continue with New Leadership
  by Yves Smith 1:09 am

• Guest Post: Geithner Says “The Size Of The Shock Was Larger Than What Precipitated The Great Depression”
  by George Washington 12:02 am

May 18, 2011

• Levin Optimistic That DoJ Will Act on Goldman Disclosures
  by Yves Smith 11:57 pm

• Links 5/18/11
  by Yves Smith 5:02 am

• On Short-Termism and the Institutionalization of Rentier Capitalism
  by Yves Smith 4:48 am

• Lehman, Resolution Regime Failure, and Credentialism as a Mask for Weak Arguments
  by Yves Smith 3:30 am

• Guest Post: Self-limited international migration: Insights from the pre-1914 North Atlantic
  by Yves Smith 3:29 am

• Bank Tout Dick Bove Proves His Ignorance in Defending of His Meal Tickets
  by Yves Smith 3:20 am

May 17, 2011

• Guest Post: Congress Proposes Bill to Allow Worldwide War … Including INSIDE the U.S.
  by George Washington 3:14 pm

• Links 5/17/11
  by Yves Smith 4:14 am

• David Apgar: Trash Trichet’s Stockholdings to Save the Euro Zone
  by Yves Smith 2:27 am

May 16, 2011

• New York AG Schneiderman Investigating Goldman, Morgan Stanley, Bank of America Mortgage Operations
  by Yves Smith 11:46 pm

• HUD Audits Show Five Biggest Servicers Defrauded Taxpayers
  by Yves Smith 5:30 pm

• On Chinese Trade
  by Edward Harrison 7:42 am

• Doug Smith: Shock Therapy For Economics, Part 1
  by Yves Smith 6:00 am

• Links 5/16/11
  by Yves Smith 4:28 am

• Jeffrey Frankel: The ECB’s three mistakes in the Greek crisis and how to get sovereign debt right in the future
  by Yves Smith 4:19 am

• New Homeowner Scam: Mortgage Securitization Audits
  by Yves Smith 1:32 am

May 15, 2011

• Links 5/15/11
  by Yves Smith 3:22 am

• The New York Fed Working to Bend Real Estate Law to Suit Needs of Banks
  by Yves Smith 1:30 am

May 14, 2011

• US Trustee Estimates Servicing “Errors” at 10x Level Claimed by Banks (and Parroted by Federal Regulators)
  by Yves Smith 11:23 pm

• IMF Chief Strauss-Kahn in Custody for Alleged Sexual Assault (Updated)
  by Yves Smith 9:13 pm

• Links 5/14/11
  by Yves Smith 12:40 am

• Feds Reviewed Only 100 Foreclosure Files in Servicer Whitewash
  by Yves Smith 12:27 am

• Guest Post: Exxon CEO Admits that Oil Should Be $60-70 Dollars a Barrel Based on Supply and Demand
  by George Washington 12:16 am

• Judge Dismisses Sanctions Motion by Lender Processing Services Against Attorney Suing It
  by Yves Smith 12:15 am

• Marshall Auerback: Revenue Sharing for the States – How It Works, Why We Need It and Why Nixon Liked It!
  by Yves Smith 12:05 am

May 13, 2011

• Mortgage Whistleblowers Say Servicers Foreclosed Rather Than Modify, HAMP Program Designed to Help Banks, Not Borrowers
  by Yves Smith 5:39 pm

• Links 5/13/11
  by Edward Harrison 7:24 am

• Antidote du jour
  by Yves Smith 2:05 am

• Guest Post: Not far enough – Recommendations of the UK’s Independent Commission on Banking
  by Yves Smith 2:03 am

May 12, 2011

• Guest Post: Simulation Shows High Levels of Radiation Hitting the West in May
  by George Washington 9:20 pm

• FDIC’s Bair Says Millions of Mortgages May Be “Infected,” Criticizes Consent Orders
  by Yves Smith 3:23 pm

• On the Upside-Down World of MMT
  by Edward Harrison 1:55 pm

• Links 5/12/11
  by Edward Harrison 7:54 am

• Antidote du jour
  by Yves Smith 6:45 am

• Raghuram Rajan on Delineating the Role of Government
  by Yves Smith 2:04 am

May 11, 2011

• Banks are not Reserve Constrained
  by Edward Harrison 1:55 pm

• Links 5/11/11
  by Yves Smith 4:02 am

• FDIC Filed Suit Against Lender Processing Services for $154 Million
  by Yves Smith 3:55 am

• On Dubious Defenses of the FDIC’s Lehman Resolution Plan
  by Yves Smith 2:52 am

• Guest Post: Interrogation Experts From Every Branch of the Military and Intelligence Agree that Torture DOESN’T Produce Useful Information
  by George Washington 2:19 am

May 10, 2011

• Quelle Surprise! 50 State Attorneys General Settlement Talks Beating a Retreat
  by Yves Smith 6:01 pm

• Links 5/10/11
  by Yves Smith 6:03 am

• Seeking Reader Questions on Fixing Mortgage Securitization for the House Financial Services Committee Hearings
  by Yves Smith 5:14 am

• On the Treasury’s Curious Denial That Geithner Blocked Deal on Irish Debt
  by Yves Smith 4:48 am

• William Hogeland: Economic Conflicts of the Founding Era Dispel Tea Party Myths…and Liberal Ones, Too
  by Yves Smith 4:16 am

May 9, 2011

• Links 5/9/11
  by Yves Smith 5:21 am

• More on Greece Restructuring and Eurozone Worries
  by Yves Smith 5:02 am

• North Carolina Appellate Decision Raises New Chain of Title Issue
  by Yves Smith 4:17 am

• Superman Renounces US Citizenship
  by Yves Smith 2:25 am

May 8, 2011

• Links 5/8/11
  by Yves Smith 5:18 am

• Marshall Auerback: Obama Needs to Get Serious About Jobs
  by Yves Smith 5:16 am

• A New Zombie Lumbers On: The Mortgage Settlement Negotiations
  by Yves Smith 5:00 am

May 7, 2011

• Links 5/7/11
  by Yves Smith 3:42 am

• Geithner Blocked IMF Deal to Haircut Irish Debt
  by Yves Smith 2:59 am

• Guest Post: Overruled
  by Yves Smith 1:29 am

May 6, 2011

• Guest Post: “CEOs at the Nation’s Largest Companies Were Paid Better Last Year Than They Were In 2007, When … Unemployment Was Roughly Half What It Is Today”
  by George Washington 11:50 pm

• Euro Whacked by Reports that Greece May Leave the Eurozone?
  by Yves Smith 3:16 pm

• Links 5/6/11
  by Yves Smith 5:53 am

• GAO Report Confirms Our Criticism of “Foreclosure Task Force” Review
  by Yves Smith 5:43 am

• Los Angeles Accuses Deutsche Bank of Being a Slumlord
  by Yves Smith 4:24 am

• Republicans to Consumer Financial Protection Bureau: Drop Dead
  by Yves Smith 4:01 am

May 5, 2011

• Commodities Tank
  by Yves Smith 5:16 pm

• Links 5/5/11
  by Yves Smith 7:00 am

• Will “False Claims” Lawsuit Against AIG, Goldman, Deutsche, BofA, SocGen on Fed Funding Lead to New Round of Embarrassing Revelations?
  by Yves Smith 6:51 am

• Jamie Dimon Says Banks Are Being Nice to You When They Take Your House
  by Yves Smith 5:00 am

• Did the Fed do in Bin Laden?
  by Yves Smith 4:55 am

• Are the Chinese Hoarding Certain Commodities to Obtain Cheap Funding?
  by Yves Smith 4:11 am

May 4, 2011

• Links 5/4/11
  by Yves Smith 4:59 am

• On Trolls and Plants
  by Yves Smith 4:17 am

• UBS’s Magnus Warns of Risk of Chinese Minsky Moment
  by Yves Smith 3:32 am

May 3, 2011

• Marshall Auerback: Get Ready for a Global Growth Slowdown
  by Yves Smith 4:50 pm

• Deutsche Bank Sued by Department of Justice for Over $1 Billion on FHA Loans: Sound and Fury Signifying Not Much
  by Yves Smith 4:45 pm

• Links 5/3/11
  by Yves Smith 5:00 am

• Guest Post: Beware of runaway headline inflation
  by Yves Smith 4:55 am

• Goldman Cheats and Wins Again: Gets Special Treatment in UK Tax Abuse Settlement
  by Yves Smith 2:25 am

May 2, 2011

• Guest Post: No, Bin Laden’s Death Does NOT Justify Torture
  by George Washington 9:25 pm

• Michael Pettis: Is it time for the US to disengage the world from the dollar?
  by Yves Smith 3:48 pm

• Links 5/2/11
  by Yves Smith 5:09 am

• Silver Down 12%, Big Default Rumored at Comex
  by Yves Smith 4:09 am

May 1, 2011

• Does CIA Assassination of Bin Laden Make Obama a Shoo-In for 2012?
  by Yves Smith 11:15 pm

• Guest Post: No, a Little Radiation Is NOT Good For You
  by George Washington 4:06 pm

• Links May Day 2011
  by Yves Smith 5:07 am

• Earth to Libertarians: Private Parties Have Coercive Power Too
  by Yves Smith 4:58 am

• Guest Post: China is Different
  by Yves Smith 4:43 am