Maybe The SEC Decided To Throw A Trial So It Can Go Back To Settling Everything
I try to be honest when telling you that a court complaint or SEC filing or research paper is a fun read, just in case you might go read it, though of course there’s no accounting for tastes and I may...
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Wells Fargo Managed To Sell Bad Mortgages Without Sending Embarrassing...
Ooh so Wells Fargo screwed the government out of hundreds of millions of dollars of mortgage insurance by fraudulent underwriting, allegedly. We’ve all heard big-bank mortgage fraud stories by now and...
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Freddie Mac Preferred Punishing Banks To Helping Homeowners
ProPublica has a new story about Freddie Mac and it’s good, go read it if you like getting angry about mortgages. The gist is that Freddie were big jerks about not letting people refinance their...
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Banks Making Up For Bad Old Mortgages By Charging More For Good New Ones
There are lots of things to worry about in the world and somewhere on the list is the fact that, while yields on agency mortgage-backed securities are really really really low, the rate you’ll pay for...
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Banks Want A Chance To Prove Fannie And Freddie Knew They Were Being Lied To
Ninety percent of what happens in the typical lawsuit is (1) a lawyer for one side sends a letter to the other side asking for some information to prepare for a trial that will never happen, (2) the...
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Fannie And Freddie Preferred Stock Slowly Finding Its Way Back Into The Hands...
Articles about the Fannie & Freddie preferred trade have been burbling around for a while and I’ve never understood it. The Journal has two good articles on it today, with this being a particularly...
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Fannie And Freddie Shareholders Politely Ask For Their Companies Back
There’s an alternative theory of the 2007-2008 financial crisis in which it was just a minor hiccup that would have worked out fine for all concerned if the meddling U.S. government hadn’t been so...
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You’ve Got Five More Years To Trade Fannie And Freddie Preferred Stock
Over on the imaginary stock markets where Fannie Mae and Freddie Mac trade they’ve had a rough day, with FNMA and FMCC common stock each down almost 13% and the preferred … um … down surprisingly small...
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