Category: Credit Crisis 2008
The analysis published under this category are as follows.
Wednesday, March 17, 2010
Lehman's Bankruptcy Report, Evidence of a Financial Coup in America / Companies / Credit Crisis 2008
By: David_DeGraw
“The ideas of economists… are more powerful than is commonly understood. Indeed, the world is ruled by little else.” — John Maynard Keynes
How much more evidence of a financial coup and the THEFT of TRILLIONS of DOLLARS do we need before the media and our politicians do something, anything, to restore a rule of law in this nation? What is it going to take?
Read full article... Read full article...
Tuesday, March 16, 2010
Geithner and Bernanke's Possibly Criminal Roles in Lehman's Scandal / Politics / Credit Crisis 2008
By: Mike_Whitney
After a year-long investigation, court-appointed bank examiner Anton Valukas has produced a deadly 2,200 page report which details the activities that led to the Lehman Brothers bankruptcy. The report is a keg of dynamite. The question now is whether anyone in government has the nerve to light the fuse. Valukas provides powerful evidence that Lehman executives were involved in “balance sheet manipulation” by implementing an arcane accounting procedure called “Repo 105” which masked the bank's true financial condition from investors and regulators.
Tuesday, March 16, 2010
What Caused the Financial Crisis, Delusion or Crime? Critique of Michael Lewis / Politics / Credit Crisis 2008
By: Danny_Schechter
The Big Short Is A Bit Short In Missing The Reasons for The Crisis: Michael Lewis’s Delusion Thesis vs Senator Kaufman’s Case for Crime
It’s the number one book in the county. Every day, Michael Lewis’s the Big Short is getting B I G G E R, no doubt because he is so mediagenic, conversational and likes to laugh with the hosts who interview him about his findings.
Read full article... Read full article...
Sunday, March 14, 2010
The Greatest Financial Crime Ever Perpetrated, This Video Could Put Geithner Behind Bars / Politics / Credit Crisis 2008
By: Mike_Whitney
You gotta see this! If this doesn't convince you that the Timothy Geithner knew about the securities shenanigans that were going on at Lehman, than I don't know what will.
Keep in mind, that Geithner ran Lehman through 3 "stress tests" prior to bankruptcy; all of which Lehman failed, and yet, nothing was done. Anton R. Valukas--the examiner who wrote the 2,200 page investigative-report which was released on Thursday-- has provided plenty of information detailing Lehman's “materially misleading” accounting and “actionable balance sheet manipulation.”
Read full article... Read full article...
Friday, March 12, 2010
Lehman’s Contribution to the Financial Meltdown! / Companies / Credit Crisis 2008
By: Sy_Harding
Sometimes things that seem too disappointing to be true do turn out to be true. Unfortunately over the decades that has happened too often in the financial industry.
Tuesday, March 02, 2010
The Case Against Greenspan and Bernanke / Politics / Credit Crisis 2008
By: Mike_Whitney
Is there enough evidence to indict Ben Bernanke and Alan Greenspan on charges that they aided and abetted the banks and other financial institutions in the sale of fraudulent loans to investors?
That depends on whether there is sufficient proof to show whether the two men KNEW that the nation's lenders were engaged in large-scale predatory lending and chose to do nothing. As we'll see, both Greenspan and Bernanke were warned repeatedly about the mortgage/derivatives scam by credible professionals and industry regulators, but failed to act.
Friday, February 05, 2010
Foreigners Caused America’s Financial Crisis? A Closer Look / Politics / Credit Crisis 2008
By: Dian_L_Chu
Dian L. Chu writes: In his State of the Union address, President Obama reiterated his ambitious agenda to improve the economy and enact sweeping financial reform aimed specifically at the Big Banks. The European Union is also pursuing similarly ambitious changes aimed at preventing another crisis in the future.
Thursday, January 07, 2010
Geithner's New York Federal Reserve Pressured AIG to Delay Disclosures / Politics / Credit Crisis 2008
By: Trader_Mark
I wrote a few times in 2008 and early 2009 that as historic and mind bending the times we were living through then were, that when all the details of what was happening behind the scenes leaked out in the coming years ... that's where the truly fascinating information would be found. How short are memories are - all the furor over the direct handout to investment (and other) banks the world over, led by our friends at Goldman Sachs (GS) via AIG swap agreements - is but a distant memory.
Tuesday, November 24, 2009
American Casino, An Edgy, Fast-paced Documentary on the Financial Meltdown / Politics / Credit Crisis 2008
By: Mike_Whitney
Andrew and Leslie Cockburn have produced the best movie of the year. American Casino tells the story of the financial crisis, which started with the meltdown in subprime lending and ended up triggering the deepest slump since the Great Depression.
Sunday, November 15, 2009
How the Financial Sector Servant Became a Predator / Politics / Credit Crisis 2008
By: Submissions
William K. Black writes: Financial Systems Five Fatal Flaws
What exactly is the function of the financial sector in our society? Simply this: Its sole function is supplying capital efficiently to aid the real economy. The financial sector is a tool to help those that make real tools, not an end in itself. But five fatal flaws in the financial sector's current structure have created a monster that drains the real economy, promotes fraud and corruption, threatens democracy, and causes recurrent, intensifying crises.
Read full article... Read full article...
Tuesday, November 10, 2009
Who is to Blame for the Financial Crisis? / Politics / Credit Crisis 2008
By: Global_Research
David Kerans writes: “I have no interest in spending all of our time relitigating the policies of the last eight years.… laying blame…. can distract us from focusing our time, our efforts and our politics on the challenges of the future.” --Barack Obama, speech on national security, delivered at the National Archives, Washington, D.C., May 21st, 2009
Tuesday, November 10, 2009
Goldman’s Undisclosed Role in AIG’s Distress / Companies / Credit Crisis 2008
By: Janet_Tavakoli
Goldman wasn’t the only contributor to the systemic risk that nearly toppled the global financial markets, but it was the key contributor to the systemic risk posed by AIG’s near bankruptcy. When it came to the credit derivatives American International Group, Inc. (AIG) was required to mark‐to‐market, Goldman was the 800‐pound gorilla. Calls for billions of dollars in collateral pushed AIG to the edge of disaster. The entire financial system was imperiled, and Goldman Sachs would have been exposed to billions in devastating losses.1
Wednesday, October 28, 2009
Goldman’s Lies of Omission on AIG Implosion / Companies / Credit Crisis 2008
By: Janet_Tavakoli
In my opinion, David Viniar’s (CFO of Goldman Sachs) comments in the fall of 2008 were a lie (see endnote), and for that matter, Lloyd Blankfein’s (CEO of Goldman Sachs) later comments to the Wall Street Journal were disingenuous. In the context of what was happening near the time of AIG’s implosion, the key question was “What is going on between Goldman and AIG?” Their rhetoric surrounding this issue is a deft dodge. They may claim they didn’t “technically” lie, but Goldman’s business exposure to AIG posed both credit risk and reputation risk. They seem to overlook elements of the former and put insufficient value on the latter.
Sunday, October 25, 2009
Financial Crisis Hidden History, The Warning Frontline Video / Stock-Markets / Credit Crisis 2008
By: Submissions
In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation's worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Born, who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008.
Wednesday, October 14, 2009
Financial and Economic Collapse, The Crime of Our Time / Stock-Markets / Credit Crisis 2008
By: Stephen_Lendman
Reviewing Danny Schechter's The Crime of Our Time - Danny Schechter is a media activist, critic, independent filmmaker, and TV producer as well as an author of 10 books and lecturer on media issues. Some call him "The News Dissector," and that's the name of his popular blog on media issues. He's also the co-founder of Media Channel.org that covers the "political, cultural and social impacts of the media," and provides information unavailable in the mainstream.
Friday, October 02, 2009
Credit and Credibility Chapter 2 Footnotes / Stock-Markets / Credit Crisis 2008
By: Richard_Karn
Credit and Credability Chapter 2 Footnotes Read full article... Read full article...
Friday, October 02, 2009
Credit Crisis Explained- Credit and Credibility / Stock-Markets / Credit Crisis 2008
By: Richard_Karn
Chapter 2: “Nobody’s right, when everybody’s wrong”
Chapter 1 Here : “Pay no attention to that man behind the curtain!”
Arguably more effective than the military adventurism that dominates the headlines, what amounts to American cultural imperialism has subtly seduced large swathes of the world, and it has not been limited simply to a taste for fast food, film, and fashion. The far more addictive aspect has been the successful overseas marketing of the “debt culture” via the financial innovation associated with the securitization (derivative) markets, which at $27 trillion has constituted the US’ largest export of the 21st century. This is the realm of the money center banks. 1
Read full article... Read full article...
Monday, September 21, 2009
How Deregulation Trashed the US Economy and Government Intervention Became the Only Way Out / Politics / Credit Crisis 2008
By: Greg_Guma
Remember the panic-inducing headlines of 2008? Government Takes Over Troubled Mortgage Giants, Lehman Brothers Files for Bankruptcy, Bank of America Buys Merrill Lynch, and Stock Prices Plummet – that last one just as the government announced an $85 billion emergency loan to rescue insurance giant AIG. And that was just the beginning.
Friday, September 18, 2009
Lehman Brothers Bankruptcy Revisited / Politics / Credit Crisis 2008
By: Peter_Schiff
As we pass the one year anniversary of the fall of Lehman Brothers, journalists, politicians and market analysts have seized on the occasion to offer seemingly sober assessments of what went wrong and what went right in the lead up and aftermath of the biggest financial event since Black Tuesday.
Read full article... Read full article...
Friday, September 18, 2009
Lehman Died So TARP and AIG Might Live / Politics / Credit Crisis 2008
By: Mike_Whitney
"Lehman's fate was sealed not in the boardroom of that gaudy Manhattan headquarters. It was sealed downtown, in the gloomy gray building of the New York Federal Reserve, the Wall Street branch of the U.S. central bank." ~ Stephen Foley, UK Independent