Audio Post - Explaining the Futures Market

Audio Post – Explaining the Futures Market

By The Banker | Audio Posts

I love me some Roman Mars, and his “99% Invisible” show, so I have to pay attention when he delves into finance.  I recently tried to introduce the idea of the mortgage bond ‘when-issued’ market, which is a form of futures trading that I used to be involved in.  If you have no idea about [&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

Ask an Ex-Banker: How to Invest Unexpected Cash

Ask an Ex-Banker: How to Invest Unexpected Cash

By The Banker | Ask an Ex-Banker, Blog Posts, Personal Finance

A friend asked me recently for investment advice.  I sent her my thoughts by email but couldn’t resist making it into an “Ask an Ex-Banker” post. Question:  My daughter got caught in the housing downturn and finally has sold her condo in NY but is too poor in this economy to buy a bag of [&hellip