• Pivotfarm
    08/03/2015 - 15:25
    The quest for perfection is man’s unattainable goal. Man can never be perfect if we are to believe the English philosopher Thomas Hobbes. Man is man’s wolf and all of that.

Office of the Comptroller of the Currency

Tyler Durden's picture

Supply And Demand In The Gold And Silver Futures Markets





The bear market in bullion is an artificial creation. This artificial, indeed fraudulent, increase in the supply of paper bullion contracts drives down the price in the futures market despite high demand for bullion in the physical market and constrained supply. 

 
Tyler Durden's picture

$900 Million Payday Is Billionaires' Reward For Crushing Twinkie-Maker's Labor Unions





After investing $410 million in March 2013, two billionaires are about to make a $500 million return an investment they have held just over two years, with the blessing of a whole lot of debt investors. And all they had to do was pick up the carcass of a company which did nothing more than crush its unions.

 
Tyler Durden's picture

FDIC Sounds Alarm On Insolvent, "Zero Hedged" Oil & Gas Producers





"U.S. regulators are sounding the alarm about banks’ exposure to oil-and-gas producers, a move that could limit their ability to lend to companies battered by a yearlong slump in prices," WSJ reports, reinforcing the notion that North America's "zero hedged" O&G sector is in for a rough ride.

 
Tyler Durden's picture

How Jamie Dimon Became A Billionaire





Two years ago, bank analyst Mike Mayo asked JPM chief Jamie Dimon a simple question: why should affluent customers not pick UBS over JPM due to a mismatch in capital ratios, to which Dimon's response was even simpler: "that's why I'm richer than you." To which we then added: "No logic, no rationale: all about the bottom line, which to Jamie at least is all that matters. The bottom line was indeed all, because as Bloomberg calculated overnight, over the past several years, Jamie Dimon quietly became not just "richer than you", but "much" richer: his net worth is now well over $1 billion!

 
Tyler Durden's picture

Housing Bubble Redux: Subprime Auto Market Begins To Crack





The deterioration in the subprime auto market is perhaps the clearest sign yet that we have learned literally nothing from the crisis years. That is, this is precisely the same dynamic and it will end precisely the same way: defaults will rise, investors in assets backed by these loans will suffer outsized losses, and the assets themselves will become completely illiquid.

 
Tyler Durden's picture

Breaking Bad (Debt) - Episode 2





Under normal circumstances, after 2008's conflagration of the calamitous collateralizations, we shouldn’t have seen such irrational, reckless, greedy behavior from Wall Street for another generation. But, Wall Street didn’t have to accept the consequences of their actions. They were bailed out and further enriched by their puppets at the Federal Reserve, the lackey politicians they installed in Washington D.C., and on the backs of honest, hard-working, tax paying Americans. The lesson they learned was they could continue to take excessive, reckless, unregulated risks without concern for losses, downside, or consequences.

 
Tyler Durden's picture

What Tight Lending Conditions: Underwriting Standards Mirror Those Before Subprime Crash, OCC Finds





The myth of harsh lending conditions in the US is probably only matched in its disconnect from reality by the just as entertaining narrative of the "one-time, non-recurring" harsh winter crushing Q1 GDP. A narrative which even needed support from none other than former Fed Chairman Bernanke who allegedly was denied a mortgage refinancing on the $672K loan he still owes for his 3-bedroom, 2100 square foot home (a story which is about as credible as 17 year olds making $72 million by cornering the penny-stock market). For the truth we go to the Office Of the Comptroller of the Currency, which just reported in its annual survey that for the third year in a row, U.S. banks relaxed loan underwriting standards, "a trend mirroring the lax lending just before the financial crisis." To wit: "This year's survey showed a continued easing in underwriting standards, with trends very similar to those seen from 2004 through 2006," said Jennifer Kelly, senior deputy comptroller for bank supervision.

 
Tyler Durden's picture

Why Is The US Treasury Quietly Ordering "Surival Kits" For US Bankers?





The Department of Treasury is spending $200,000 on survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. As FreeBeacon reports, survival kits will be delivered to every major bank in the United States and includes a solar blanket, food bar, water-purification tablets, and dust mask (among other things). The question, obviously, is just what do they know that the rest of us don't?

 
Tyler Durden's picture

Housing Fraud is Back – Real Estate Industry Intentionally Inflating Home Appraisals





"Almost 40% of appraisers surveyed from Sept. 15 through Nov. 7 reported experiencing pressure to inflate values,...If you thought what was happening before was an embarrassment, wait until the second time around." Is there any price in this economy that isn’t completely rigged?

 
4closureFraud's picture

Full Deposition of Lona Hunt: Robo-Verifier of Foreclosure Complaints for Seterus/Fannie Mae





No matter the amount and severity of lawsuits, settlements, and bad publicity, it appears, at least in this case, that the act of signing without proper authority or knowledge as to that which one is signing, continues.

 
Tyler Durden's picture

Meet The (First) Seven Banks Who Rigged The FX Market





  • Barclays PLC
  • HSBC Holdings PLC
  • Royal Bank of Scotland Group PLC
  • UBS AG
  • Citigroup
  • J.P. Morgan Chase
  • Bank of America Corp. Bank of America
 
Syndicate content
Do NOT follow this link or you will be banned from the site!