Quantitative Easing, Inflation & Europe in Trouble

QE3 Pretty Much a Certainty if these hacks say it isn't...

For instance Mishkin of Columbia U, (in the glasses with the smug countenance on the left, below) wrote the infamous 'everything is fine in Iceland' White Paper featuring the word 'stability' in the title & changed it to 'instability' on his CV... after the fact (i.e. the collapse of all three Icelandic banks) - while not disclosing he was paid 124k for the original piece... Ethics in Academia? But more importantly, is he credible?

House of Junk

Junk Mortgages under the Microscope

A close-up of one deal shows how subprime mortgages went bad, says Fortune's Allan Sloan.

http://money.cnn.com/2007/10/15/markets/junk_mortgages.fortune/index.htm

Double Dip possible? It's Already Happening.

A Double-Dip for the Housing Market?

 The Atlantic

http://www.theatlantic.com/business/archive/2010/12/a-double-dip-for-the-housing-market/68663/ 

Double-Dip In Housing Almost Here, According To

Case-Shiller Index

Forbes

http://blogs.forbes.com/afontevecchia/2010/12/28/double-dip-in-housing-almost-here-according-to-case-shiller-index/?boxes=financechannelforbes

Who Watches the Watchmen?

 "Inside the Securities and Exchange Commission, the organization is bracing for a public outcry, according to people who have recently spoken with some high-ranking officials about the prospect of a WikiLeaks release of bank documents."

Prospect of WikiLeaks Dump Poses Problems for Regulators

“Tens of thousands of its internal documents will be exposed on Wikileaks.org with no polite requests for executives’ response or other forewarnings.”

The impending Bank Leak may be:

"...an embarrassment for the United States government, which has spent millions of dollars investigating Wall Street in the last two years without a scalp to show for it."

"The scuttlebutt is that WikiLeaks will reveal documents in which bankers discussed how they duped a client, how they dressed up their numbers or even how they tried to pull one over on regulators."

"Sadly, perhaps cynically, that’s almost to be expected."

"The big surprise would be that such chicanery was documented, in black and white, and that regulators hadn’t found it yet 

— or worse, they had found it and did nothing about it."

http://dealbook.nytimes.com/2010/12/20/prospect-of-wikileaks-dump-poses-problems-for-regulators/?ref=business

 

‘Revisionist Whitewash’

GOP omits ‘derivatives’ from crisis report

By Ronald D. Orol, MarketWatch

WASHINGTON (MarketWatch) — Republicans omitted the words “derivatives” and “deregulation” from their report released Wednesday on the cause of the financial crisis that shook the economy to the brink in 2008.

REPUBLICAN COMMISSIONERS
ON THE FINANCIAL CRISIS INQUIRY COMMISSION

‘Welcome to Information Retrieval’

Terry Gilliam’s Brazil

MarketWatch Article:

 http://www.marketwatch.com/story/gop-omits-derivatives-from-crisis-report-2010-12-15?reflink=MW_news_stmp

GOP Members break with commission and release independent interpertation:

Financial Crisis Primer


http://republicanleader.house.gov/UploadedFiles/Financial_Crisis_Primer_Final.pdf

Revisionists

Talking Business

Explaining the Crisis With Dogma

"But more recently, it has had to do with the growing tug of war between the commissioners over which financial crisis narrative would win out.

The Republican minority, fearing their view would get short shrift, pre-emptively put forward a CliffsNotes version of their theory of the case. In other words, they responded to a report that hasn’t even yet been written, much less read and voted on by the members.


Is there such a word as “presponse?” Perhaps we should coin it to describe what took place this week at the F.C.I.C."

http://www.nytimes.com/2010/12/18/business/18nocera.html?partner=rss&emc=rss    

& RENEGADES

Hon. Bill Thomas
Commission Vice Chairman

 

Peter J. Wallison
Commissioner

Keith Hennessey
Commissioner

 

Douglas Holtz-Eakin
Commissioner