Archive for November, 2009:

SEC Charges Hurricane Restoration Company and Executives in Post-Katrina Accounting Fraud

{ Posted on Nov 30 2009 by SEC.gov Updates: Press Releases }
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The Securities and Exchange Commission today charged a Dallas and New Orleans-based hurricane restoration company and several executives for lying about non-existent business deals in the wake of Hurricane Katrina, and fraudulently inflating the company's stock price before the company's ...Read More »

Citigroup Names Bailout Critic Buiter as Chief Economist

{ Posted on Nov 30 2009 by Economics - Today's Popular Articles at http://www.inveslogic.com }
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Never let it be said that Citigroup doesn t listen to detractors. The poster child for too-big-to-fail has named Willem Buiter, a former member of the Bank of England s Monetary Policy Committee and outspoken critic ...Read More »

Subprime: Down, But Still No Sign Of A Bottom

{ Posted on Nov 30 2009 by HousingWire }
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I know, I know. Subprime is so, like, 2007. And most of the financial press has moved onto sexier mortgage words like “option ARMs,” or “FHA loss reserves.” That said, I thought it would be interesting to dive back into subprime ...Read More »

Is Too Much or Too Little Money Being Created?

{ Posted on Nov 30 2009 by Economics - Today's Popular Articles at http://www.inveslogic.com }
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I just want to make a simple, but important, point about money and credit that is being overlooked by just about everybody except David Malpass. That s true of a lot of things, by they way. When a ...Read More »

A Tale of Two Housing Markets: No Recovery at the High End

{ Posted on Nov 30 2009 by Economics - Today's Popular Articles at http://www.inveslogic.com }
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Back in July, 2008, I posted on the topic of variation in housing inventory. I also showed how housing inventory was radically different across cities of similar size. Later, in January, I posted on the lumpiness of housing ...Read More »

The 10 Most Corrupt Countries

{ Posted on Nov 30 2009 by Lawrence Delevingne }
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// Maybe we do need robust financial regulation. Despite it's global leadership position, 18 countries are less corrupt than the U.S., according to Transparency International’s recently released 2009 Corruption Perceptions Index. TI: The United States score remains stable at 7.5 despite widespread ...Read More »

Weak Economy Drags Down Air Traffic

{ Posted on Nov 30 2009 by Economics - Today's Popular Articles at http://www.inveslogic.com }
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The weak economy and deflationary trends are perhaps no more obvious in any part of the economy than they are in the airline and air cargo industries. The Air Transport Association reported the 14th consecutive declining month of cargo ...Read More »

Treasury Spending Another $75 Billion To Speed Up Foreclosure Modifications

{ Posted on Nov 30 2009 by Vince Veneziani }
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Say hello to the latest billion-dollar bailout, courtesy of Barack Obama and Timothy Geithner: ---------- WASHINGTON (AP) -- With the foreclosure crisis showing no signs of relenting, the Obama administration plans to expand a program aimed at helping people remain in their ...Read More »

AIG Agrees Give Hank Greenberg A Persian Rug And Some Personal Photos

{ Posted on Nov 30 2009 by Vince Veneziani }
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An 8K filing from late last week details the agreement between AIG and Hank Greenberg, which saves the bank $150 million in legal fees and settlement claims: Footnoted: The part we especially liked was Exhibit B of of the MOU, which ...Read More »

Citi’s New Chief Economist Thinks Citi Is Too Big

{ Posted on Nov 30 2009 by Courtney Comstock }
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On his blog, Willem Buiter ocne called Citi "a conglomeration of worst-practice from across the financial spectrum" back in April. Now he's been hired as the bank's chief economist. In his blog for the Financial Times, the economist Willem Buiter also said ...Read More »
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