New Orleans My goodness, hysteria has broken out among the financial chattering class with the news of a $13 billion proposed settlement between JP Morgan Chase and the Justice Department and Federal Housing Finance Agency over the bank’s handling of the mortgage crisis. The lead editorial in the Wall Street Journal claimed variously that parts …
Tag: wall street
Another Billion in Subprime Losses for Wells Fargo and Ocwen
New Orleans A billion here, a billion there, and the next thing you know, you’re talking about real money. This is another line on the headstone of the subprime mortgage industry that was such a key player in the Great Recession. News that investors took another unexpected loss of a billion bucks in these tranches …
TXU Case Study in Speculation Hurting Consumers and Embarrassing Environmentalists
Memphis Who wants to read another story about Wall Street hustlers and the funny money going south and then jumping through more hoops to try to save their butts in bankruptcy court? Well in this case the answer is “Me!” when it comes to the wheeling-and-dealing involving TXU, the struggling Texas power company. The …