When those who point fingers seek blame for the financial crisis of 2008 (we are yet to have an official historical name for this disaster) the common refrain is deregulation of the financial industry, but some examination seems to be
Read More
While the players and regulators were struggling to get investors to commit capital to the major banks to avoid a meltdown, Warren Buffet was called upon several times. He consistently turned them down because the assets were too complicated to
Read More
(this was published previously in the Macon Telegraph) Being in the middle of a record economic crisis presents a rare learning opportunity. Several books are worthwhile for those seeking to understand what just happened. Too Big to Fail by Andrew
Read More
“Fannie and Freddie played the political game even more fiercely than their opponents, spending millions of dollars on armies of lobbyists on Capitol Hill. Each company was a revolving door for the powerful in Washington- both Republican and Democrat. Newt
Read More
“In moving, even tentatively, into this new area of lending (subprime) Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government -subsidized corporation may run into trouble in an
Read More
Recent Comments