Janet Tavakoli, Tavakoli Structured Finance, discusses bank and foreclosure fraud via Goldman Sachs, JP Morgan, Countrywide, Bank of America, Citigroup etc. with David Fry
Very interesting insight on Warren Buffett, Jamie Dimon and more…
Janet Tavakoli on Bank Foreclosure Fraud from David Fry on Vimeo.
Hat tip: The Big Picture
A group of prominent Republican-leaning economists, coordinating with Republican lawmakers and political strategists, is launching a campaign this week calling on Fed Chairman Ben Bernanke to drop his plan to buy $600 billion in additional U.S. Treasury bonds.
Former Congressional Budget Office director Douglas Holtz-Eakin is among economists urging Fed Chairman Ben Bernanke to drop plans for big new bond purchases. “The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed's objective of promoting employment,” they say in an open letter to be published as ads this week in The Wall Street Journal and the New York Times
Regional Bank Profits to Get Hit by New Regulations: Whitney Regional banks are going to become less profitable because of tighter financial regulations and are likely to close thousands of bank branches to cut costs, analyst Meredith Whitney told CNBC. More layoffs are inevitable. She predicts two million layoffs among the nation's 19.4 million government workers.
QE isn't helping, she said:
“It seems as if the market expects Oprah Winfrey to jump out of a cake and give away free cars with QE2,” Whitney said. “Does QE2 help middle America? No, it just makes everything more expensive for middle America. I think that is a complicated policy and a dangerous policy to take things that much further.”
