The NY Times Deal Book has posted the Lehman's examiners report online: Court-Appointed Lehman Examiner Unveils ReportThere is an interesting excerpt on the apparent use of repo transactions to bolster Lehman's balance sheet: ... former Global Financial Controller Martin ... Kelly believed “that the only purpose or motive for the transactions was r […]
Daylight Savings Time "Spring Forward" .... taken too far What day is today? by Soylent Green is PeopleFrom the FDIC: Valley National Bank, Wayne, New Jersey, Assumes All of the Deposits of LibertyPointe Bank, New York, New York LibertyPointe Bank, New York, New York, was closed today by the New York State Banking Department, which appointed the Fe […]
Some key points: The Fed MBS purchases are scheduled to end on March 31st. It will take a couple of months for some of these purchases to settle on the Fed's balance sheet (see: the discussion from SIFMA: "To-Be-Announced" Trading of Agency Passthrough Securities) The coming increase in the Fed's balance sheet (and the expansion of the Su […]
Last week, I attended the Make Markets Be Markets conference. All of the videos from the conference are now posted (here). I found Elizabeth Warren’s discussion on the proposed Consumer Financial Protection Agency to be outstanding; I posted it here. […]
The Fed’s Flow of Funds report was released at noon, and showed a continuing healing of the household balance sheet: Assets grew, liabilities shrank, so Net Worth improved. Debt-to-income continued to decline (now 127%) from a peak of 136% (still much work to do here). Even Owners’ Equity as Percentage of Household Real Estate continued [...] […]
Elizabeth Warren presents her chapter on consumer protection from the Make Markets Be Markets report, sponsored by the Roosevelt Institute. Elizabeth Warren on Consumer Protection (MMBM) from Roosevelt Institute on Vimeo. Video taken from the Make Markets Be Markets conference, March 3, 2010, New York City. […]
How about this for a new and ingenious real estate money machine? Every time a house sells during the next 99 years, 1 percent of the price goes back to the original developer or is shared among investor partners. Ka-ching! […]
The owners of Natty Greene’s Pub & Brewing Co. in Greensboro have opened the doors to their new location in downtown Raleigh with a dry run opening this week and a big, public kickoff on March 15. […]
The U.S. trade deficit unexpectedly narrowed to $37.29 billion in January as imports and exports both declined and oil import volumes hit their lowest in more than a decade. […]
A look at why it has taken so long for banks to adopt quick interbank person-to-person transfer services and when the services will probably be available. […]