Archive - 2011 - Blog entry

FL Clerk of Court Sues Mortgage Electronic Registration System (MERS) for Civil Conspiracy, Unjust Enrichment, as well as Fraudulent and Negligent Misrepresentation

Reality is just too complicated. So they give us a cartoon instead. 

Federal Reserve Chairman Ben Bernanke is taking his show on the road.

The SEC, along with the major U.S. stock exchanges, have "fixed" the problems with the reverse-merger industry.  By "fixed" I mean they've essentially done nothing at all...

Forget Europe though, the scariest news of the week to me is HSBC taking $1.8Bn of loan impairment charges last quarter as large amounts of customers simply stopped paying their mortgages.  

A welcome breath of fresh air...

A little rain on today's parade.

Looking at Bank of Hawaii's Asset mix the past 3 years one gains the impression that BOH would prefer to buy and sell securities rather than lend to consumers and businesses.

Although the title says “in Massachusetts,” many of its salient points have broader application. If you really want to understand MERS, I suggest making time to read this one in full.

"This will not be resolved quickly or easily." Maybe it will never be resolved. 

You can't handle it. 

Once again, it is time for the Banzai7 Thursday Rip! [COFFEE IS ABSOLUTELY PROHIBITED]

As far back as May 2011, Bernanke admitted the benefits of QE were less attractive. Now he’s not only admitting that asset bubbles exist (something Greenspan never admitted) but that Central Banks may even need to “burst” them!?!? In plain terms, the Fed will NOT be launching another round of QE or major policy changes until the next round of the Great Crisis hits in full force. And by that time it will be pointless anyway as once the defaults begin, the leverage in the global banking system will implode rapidly.

Missing customer funds might be those of MF Global itself.  Also, JPM gets to keep any and all collateral and cash it seized in return for $8 million?

European Central Bank policy makers said the bank can’t do much more to stem the region’s sovereign debt crisis, suggesting they are reluctant to significantly ramp up bond purchases to lower Italy’s borrowing costs.