Lehman’s “Not So Big” $600,000,000,000(!) Balance Sheet “The 2008 financial crisis itself was centered not on big banks but on “shadow banks” like Lehman Brothers that weren’t necessarily that big.” –Paul Krugman, “Sanders Over the Edge”; The NYT (4/8/2016) No matter what you think of big banks or who caused The 2008 Crash, I think...Read More
Credit Convalescence I know don’t know that there’s a firm rule of thumb out there — ultimately, individual lenders decide to make a loan or not based on individual circumstances — but there are some conventions as to how long it takes a would-be borrower to rehabilitate their credit after a short sale. The consensus?...Read More
Wall Street’s Machiavellian Sharks Perhaps it’s uncharitable to complain about the piddling $12 million severance Jon Corzine was poised to gain if he had managed to sell his current firm, MF Global Holdings, over the weekend. But I’m going to complain anyway. The idea that Corzine, who single-handedly destroyed MF Global Holdings, was in a position to...Read More
Where are the First-Time Home Buyers? Living With Their Parents, Unemployed, & in Debt Hey Chel you know it’s kinda funny Texas always seems so big But you know you’re in the largest state in the Union When you’re anchored down in Anchorage –Michelle Shocked; lyrics, “Anchored Down in Anchorage” Is there a connection between...Read More
What’s So Bad About Bad Credit?? For many consumers, preserving one’s credit rating is one of those sacrosanct, preserve-at-all-costs values. But what if you don’t plan to buy anything? Or are afraid to? Or simply can’t afford to? Then, a trashed credit rating really may not matter so much. Especially if it means ditching a...Read More
Who’s Searching for Realogy Info — and Why? Judging by all the hits on this blog for anything Realogy-related the last few days, you’d guess that something is up. For those who don’t know, Realogy is the heavily-leveraged parent company of several national real estate companies, including Coldwell Banker Burnet. In August, I posted an...Read More
