Archive for the ‘Wall Street’ Category

Last Words on the London Whale

Last Words on the London Whale

By The Banker | Blog Posts, Wall Street

The last thing this world needs is another comment on the London Whale, but I’ve been silent on the topic for over a year, and today’s announcement that JP Morgan will pay $920 million in penalties, plus offer an apology, inspired a few quick thoughts. The settlement is meaningless, as punishment All along, the London [&hellip

What is a Hedge Fund?  WSJ answers

What is a Hedge Fund? WSJ answers

By The Banker | Blog Posts, Wall Street

I’m quick to criticize traditional media when they dumb down, or sex up, or just miss completely on finance topics. The Wall Street Journal is better than most, but still I find myself shaking my fist at the paper from time to time. Earlier this week, in anticipation of the relaxation of rules for Hedge [&hellip

Mortgages Part VIII - The Cause of the 2008 Crisis

Mortgages Part VIII – The Cause of the 2008 Crisis

By The Banker | Blog Posts, Wall Street

On the 2008 mortgage crisis, from my perspective Ok friends, are you ready?  I’m about to piss you off. Contrary to the dominant journalistic narrative of the 2008 Crisis – that greedy bankers and their Wall Street enablers tricked the poor and gullible into predatory loans on their homes which led to foreclosures and economic [&hellip

Four Factors Favoring Fabulous Fab

Four Factors Favoring Fabulous Fab

By The Banker | Blog Posts, Wall Street

Below are my reactions to the US Securities and Exchange Commission fraud suit that began yesterday against “Fabulous Fab” Fabrice Tourre, a Vice President at Goldman Sachs for structured products. From what I gather in the press, the Feds are suing Fabulous Fab for the following reasons: He sent embarrassing emails to his girlfriend revealing [&hellip

Mortgage Part VII - What about Mortgage Derivatives?

Mortgage Part VII – What about Mortgage Derivatives?

By The Banker | Blog Posts, Wall Street

Please see my earlier post, on the creation of a Mortgage bond which reviewed 3 parts of the mortgage bond market. “When Issued” forward-trading of mortgage origination supply The packaging of homeowner loans into plain vanilla mortgage bonds The role of mortgage servicers and mortgage insurers in the bond market This post will cover subsequent [&hellip