Archive for the ‘OLD NEWS’ Category

FHLB CHICAGO CANCELS 3Q DIVIDEND

Saturday, January 19th, 2008

While everyone else worries about Freddie Mac and Fannie Mae, another GSE (Governement Sponsored Enterprise) is an adavanced state of deterioration. The Federal Home Loan Bank of Chicago canceled 3Q dividend payments to members. Many members are locked in with their membership deposit accounts to receive some nice benefits. At ...

CERBERUS Seized

Saturday, January 19th, 2008

It was only a matter of time... Cerberus has extended itself beyond its reach. Its operational failures and lack of foresight will hinder any progress this year. What were they thinking in trying to bid for Northern Rock??? Didn't they learn from their experience with AEGIS MORTGAGE??? In an act ...

WALMART BANK

Saturday, January 19th, 2008

Is now the PERFECT OPPORTUNITY for WalMart to enter the banking industry? We see no formidable complaints as to why WalMart should not enter the banking industry, at this time. With enough capital, WalMart may be able to clog the relentless hemorrhaging on the street. There is a suitable candidate ...

SCARY WRITEDOWNS

Saturday, January 19th, 2008

So the big bankers had a conference about their impending write downs... Goldman Sachs assured everyone things are not great but their balance sheets are great. Jamie Dimon touts his confidence in Chuck Prince's absence... Undoubtedly, its a questionable event with questionable statements... Over 6 Billion in writedowns and Jamie ...

$500 BILLION IN WRITEDOWNS

Saturday, January 19th, 2008

Are we doomed on Novemeber 15, 2007? How much is left to writedown in these ventures? Will there be an cascasding effect from banks to other corporations? How many joint ventures, subsidiaries, investments, and CDO's must be wrritten off these balance sheets? At this point, it seems there is confusion everywhere. ...

BANK EARNINGS SHENANIGANS

Saturday, January 19th, 2008

Did you listen to the Countrywide Conference Call? Or the Washington Mutual Conference Call? Are there any analysts that can pound on these guys as to why they are shifting their mortgages from "Held For Sale" to "Held For Investment"??? Looks like Countrywide and WAMU are holding the subprime loans for ...

BASEL 2.0 or SOLVENCY 2.0

Saturday, January 19th, 2008

Solvency II is both a concept and a process. The concept is very simple: that insurers and reinsurers should understand the risks inherent in their businesses and allocate enough capital to cover those risks. Will Solvency II take into account the events that just occurred or will they have amnesia ...

EXCEL 2007 CALCULATION ERRORS

Saturday, January 19th, 2008

Did EXCEL 2007 calculation errors magnify the subprime mess? Were the latest rounding errors at the FED due to an EXCEL 2007 multiplication/rounding error? As of 10/03/2007, Microsoft has not released a fix. Microsoft has listed EXCEL 2007 information on their MSDN blogs. We sure are glad Gnumeric is ...