Wachovia
The Big Short is a Great Movie, But...
Submitted by rcwhalen on 01/05/2016 11:00 -0500- Alan Greenspan
- Apple
- Arthur Levitt
- Bear Stearns
- Bond
- CDS
- Commodity Futures Trading Commission
- Corruption
- Countrywide
- Credit Default Swaps
- default
- Federal Reserve
- Gretchen Morgenson
- Housing Market
- Institutional Investors
- Lehman
- Lehman Brothers
- Market Share
- Meltdown
- Michael Lewis
- Morgan Stanley
- Mortgage Loans
- NASDAQ
- New Century
- New York Stock Exchange
- None
- OTC
- OTC Derivatives
- program trading
- Program Trading
- Subprime Mortgages
- Wachovia
- Washington Mutual
Derivatives like credit default swaps turned a mere bubble in the US housing market into a global financial catastrophe...
Guest Post: Has There Ever Been A More Selfish Generation?
Submitted by Tyler Durden on 12/27/2015 22:20 -0500Because we squandered our opportunity to correct our own problems, our problems shall be our legacy. It’s wretched how dumb we are in our greed to have everything right now in the cheapest way possible and how willing we are to force the debts of that consumption upon our grandchildren and to pretend that won’t hurt them. We live in economic denial.
Wholesale Money Markets Are "Perverted" - US Swap Spreads Hit Record Lows
Submitted by Tyler Durden on 11/03/2015 14:35 -0500At the height of the financial crisis, the unprecedented decline in swap rates below Treasury yields was seen as an anomaly. The phenomenon is now widespread, as Bloomberg notes, what Fabozzi's bible of swap-pricing calls a "perversion" is now the rule all the way from 30Y to 2Y maturities. As one analyst notes, historical interpretations of this have been destroyed and if the flip to negative spreads persists, it would signal that its roots are in a combination of regulators’ efforts to head off another financial crisis, massive corporate issuance (which we are seeing), China selling pressure (and its impact on repo markets) and "broken" wholesale money-markets.
'Untouchables': Obama Cronies "Protected Wall Street's Most Criminal From Prosecution"
Submitted by Tyler Durden on 10/27/2015 20:45 -0500Impunity has been the norm. The reason there have been no efforts made to criminally investigate is obvious. Former banking regulator and current securities Professor Bill Black told Bill Moyers that "Timothy Geithner, then Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong."
Wholesale Money Markets Are Broken: Ignore "Perverted" Swap Spreads At Your Own Peril
Submitted by Tyler Durden on 09/27/2015 17:45 -0500At the height of the financial crisis, the unprecedented decline in swap rates below Treasury yields was seen as an anomaly. The phenomenon is now widespread, as Bloomberg notes, what Fabozzi's bible of swap-pricing calls a "perversion" is now the rule all the way from 30Y to 2Y maturities. As one analyst notes, historical interpretations of this have been destroyed and if the flip to negative spreads persists, it would signal that its roots are in a combination of regulators’ efforts to head off another financial crisis, China selling pressure (and its impact on repo markets) and "broken" wholesale money-markets.
Janet Yellen Is Freaking Out About "Audit The Fed" – Here Are 100 Reasons Why She Should Be
Submitted by Tyler Durden on 02/25/2015 21:30 -0500- 8.5%
- Alan Greenspan
- Bank of America
- Bank of America
- Bank of England
- Barclays
- Ben Bernanke
- Ben Bernanke
- Bill Gates
- BIS
- Bond
- Budget Deficit
- Capital Markets
- Capstone
- Central Banks
- Chicago Cubs
- China
- Citigroup
- CPI
- Credit Suisse
- Deutsche Bank
- Donald Trump
- Dow Jones Industrial Average
- ETC
- Excess Reserves
- Fail
- Federal Reserve
- Federal Reserve Bank
- Fisher
- Ford
- Freedom of Information Act
- Global Economy
- goldman sachs
- Goldman Sachs
- Great Depression
- Hong Kong
- Housing Bubble
- Housing Starts
- Janet Yellen
- JPMorgan Chase
- Lehman
- Lehman Brothers
- M1
- Market Crash
- Meltdown
- Merrill
- Merrill Lynch
- Mexico
- Monetary Policy
- Money Supply
- Morgan Stanley
- National Debt
- None
- Obama Administration
- Oklahoma
- Quantitative Easing
- Reality
- Richard Fisher
- Royal Bank of Scotland
- Switzerland
- Testimony
- Too Big To Fail
- Treasury Department
- Unemployment
- Wachovia
- Wells Fargo
- White House
Janet Yellen is very alarmed that some members of Congress want to conduct a comprehensive audit of the Federal Reserve for the first time since it was created. During testimony this week, she made “central bank independence” sound like it was the holy grail. Even though every other government function is debated politically in this country, Janet Yellen insists that what the Federal Reserve does is “too important” to be influenced by the American people. Does any other government agency ever dare to make that claim? If the Fed is doing everything correctly, why should Yellen be alarmed? What does she have to hide?
Bank CEOs are the New Drug Lords
Submitted by smartknowledgeu on 09/29/2014 06:10 -0500- Afghanistan
- Alan Greenspan
- B+
- Bank of America
- Bank of America
- Barclays
- Ben Bernanke
- Ben Bernanke
- Bill Gates
- BIS
- Capital Markets
- Central Banks
- Charlie Munger
- China
- Citigroup
- Corruption
- Deutsche Bank
- Drug Money
- ETC
- Fail
- Federal Reserve
- Financial Services Authority
- fixed
- Fractional Reserve Banking
- France
- goldman sachs
- Goldman Sachs
- Hank Paulson
- Hank Paulson
- Insider Trading
- Iraq
- Jamie Dimon
- John Williams
- KIM
- LIBOR
- Lloyd Blankfein
- Lloyds
- Mexico
- Monetary Policy
- Napoleon
- Nationalism
- None
- Purchasing Power
- Real estate
- Reality
- Reserve Currency
- Royal Bank of Scotland
- SmartKnowledgeU
- Somalia
- Switzerland
- Trail of Tears
- Wachovia
With the revelations of systemic, widespread corporate criminality of banking institutions in recent years, it is clear that global Bank CEOs are becoming the new Drug Lords.
Frontrunning: September 17
Submitted by Tyler Durden on 09/17/2014 06:46 -0500- Apple
- BAC
- Bank of America
- Bank of America
- Bank of England
- Boeing
- Bond
- Boston Properties
- China
- Citigroup
- Consumer Confidence
- Countrywide
- Credit Suisse
- Creditors
- Crude
- DRC
- DVA
- European Union
- Ford
- General Electric
- General Mills
- General Motors
- Germany
- Hong Kong
- Housing Market
- Iraq
- Kraft
- Lennar
- NAHB
- National Debt
- Phibro
- Recession
- Reuters
- Royal Bank of Scotland
- Trian
- Wachovia
- Wells Fargo
- Yen
- YRC
- Yuan
- -0.07%: Germany Secures Record Low Funding Cost at Bond Auction (WSJ)
- Pentagon Sees Possible Role for U.S. Ground Forces Against Islamic State Militants (WSJ)
- China Joins ECB in Adding Stimulus as Fed Scales Back (BBG)
- Stealthy or Normal? Analysts Diverge on PBOC’s Action (BBG)
- Sony Forecasts Massive $2B Loss as Smartphones Lag (AP)
- Islamic State campaign tests Obama's commitment to Mideast allies (Reuters)
- Brent Crude Rebounds as Libya’s Sharara Oilfield Shut (BBG)
- Market calm over Scottish vote at odds with disaster warnings (Reuters)
Settlements and Fines from TBTF Institutions Since the Crisis
Submitted by StalingradandPoorski on 07/25/2014 18:26 -0500Let's take a look at the amount of settlements/fines from various banks and financial institutions around the world since the crisis.
"We Are In Uncharted Waters" Singapore Central Bank Warns Of "Uneasy Calm"
Submitted by Tyler Durden on 06/25/2014 12:45 -0500Well, at least someone gets it. While just about every other central bank on the planet is giving everyone two thumbs up on the economy, the deputy chair of the Monetary Authority of Singapore (Lim Hng Kiang) said last night at a dinner that “an uneasy calm seems to have settled in markets” and that “we remain in uncharted waters.” It was quite surprising to see such pointed language from a central banking official. Mr. Lim jabbed at the “obvious” risks and said there would be “bumps on the road” ahead.
The (Other) Truth About The Financial Crisis: 10 "Geithner-Sized" Myths Exposed
Submitted by Tyler Durden on 05/25/2014 13:22 -0500- Alan Greenspan
- Bank of America
- Bank of America
- Bear Stearns
- Ben Bernanke
- Ben Bernanke
- Bloomberg News
- Countrywide
- CRA
- Credit Rating Agencies
- default
- Fail
- Fannie Mae
- FBI
- Federal Reserve
- Financial Crisis Inquiry Commission
- Foreclosures
- Freddie Mac
- goldman sachs
- Goldman Sachs
- Housing Bubble
- Housing Market
- Housing Prices
- Hyman Minsky
- Institutional Investors
- Jamie Dimon
- JPMorgan Chase
- Lehman
- Lehman Brothers
- Main Street
- Market Share
- Meltdown
- Merrill
- Merrill Lynch
- Morgan Stanley
- Mortgage Loans
- Paul Volcker
- President Obama
- Private Equity
- Rating Agencies
- recovery
- Risk Management
- Shadow Banking
- Subprime Mortgages
- The Economist
- Too Big To Fail
- Unemployment
- Wachovia
- Washington Mutual
After the crisis, many expected that the blameworthy would be punished or at the least be required to return their ill-gotten gains—but they weren’t, and they didn’t. Many thought that those who were injured would be made whole, but most weren’t. And many hoped that there would be a restoration of the financial safety rules to ensure that industry leaders could no longer gamble the equity of their firms to the point of ruin. This didn’t happen, but it’s not too late. It is useful, then, to identify the persistent myths about the causes of the financial crisis and the resulting Dodd-Frank reform legislation and related implementation...."Plenty of people saw it coming, and said so. The problem wasn’t seeing, it was listening."
How Marijuana Legalization in America Is Destroying Mexican Drug Cartel Business
Submitted by Tyler Durden on 05/16/2014 18:26 -0500
"The DEA doesn’t want the drug war to end,” said Nelson, when asked about a possible connection between the agency’s hatred of legal pot and its buddies in Sinaloa. “If it ends, they don’t get their toys and their budgets. Once it ends, they aren’t going to have the kind of influence in foreign government. I’m not a conspiracy theorist, but where there’s smoke there’s probably fire.”
“We’ve spent 1.3 trillion since 1972 on the drug war. What have we gotten for that? Drugs are cheaper and easier to get than ever before,”
However, the Mexican drug cartels have been bailed out by America’s drug warriors who have cracked down on prescription pain killers.
Guest Post: Suspicious Deaths Of Bankers Are Now Classified As "Trade Secrets" By Federal Regulator
Submitted by Tyler Durden on 04/28/2014 20:46 -0500
It doesn’t get any more Orwellian than this: Wall Street mega banks crash the U.S. financial system in 2008. Hundreds of thousands of financial industry workers lose their jobs. Then, beginning late last year, a rash of suspicious deaths start to occur among current and former bank employees. Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families. We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and we’re told the information constitutes “trade secrets.”
Large Cap Financials: Q1 2014 Earnings Update
Submitted by rcwhalen on 04/08/2014 14:37 -0500- BAC
- Bank of America
- Bank of America
- Bear Stearns
- Book Value
- Capital One
- Citigroup
- Countrywide
- Fannie Mae
- Federal Reserve
- Freddie Mac
- Global Economy
- Jamie Dimon
- Lehman
- Lehman Brothers
- Meltdown
- Merrill
- Merrill Lynch
- New Century
- OTC
- OTC Derivatives
- Prudential
- Real estate
- Reality
- Stress Test
- Wachovia
- Wall Street Journal
- WaMu
- Washington Mutual
- Wells Fargo
Most Buy Side managers have no idea about the disparate business models of the four largest US banks by assets.
A Political History of “Too Big to Fail”
Submitted by rcwhalen on 03/26/2014 08:18 -0500- Bank of New York
- Barry Ritholtz
- Bear Stearns
- Bond
- Citigroup
- Corruption
- Countrywide
- Fail
- Fannie Mae
- Federal Reserve
- Federal Reserve Bank
- Federal Reserve Bank of New York
- Freddie Mac
- General Motors
- Global Economy
- goldman sachs
- Goldman Sachs
- Great Depression
- Gretchen Morgenson
- Housing Market
- Lehman
- Lehman Brothers
- Robert Rubin
- Sheila Bair
- Timothy Geithner
- Wachovia
- Washington Mutual
To really appreciate “too big to fail,” you must first and foremost understand that it is a political concept that springs from a sense of liberal privilege and entitlement.





