Thursday, December 9, 2010

Imagine - there's no MBS...intimacy not remoteness...

What if Naked Capitalism is correct? It would seem then to open up certain MBS trusts, trustees and/or servicers and sponsors (plus the long list of counsel and audit attestation firms to same) to not the hoped for, under NY trust law, bankruptcy remoteness rather intimacy - such that creditors of certain filers may turn out to have valid, reachable claims on them thar mortgages (those never properly securitized.)

Wonder if they're done with the intense due diligence yet; over 2 years too late.

Looks like could be quite a GLOBAL showdown at MBS (and the BS may turn out to just that) corral.

Ending the siesta on the taxpayers' dime - one easy to read blog at a time.

Wednesday, December 8, 2010

Will SEC ever look for insider trading at the US Treasury re: it's exit from Citi shares...or will C shareholders have to take the first shot?

Given that the twins in Washington have inflated the financial markets with hooey these last few years - it's curious as to why exactly now the US Treasury sold off it's stake in C shares; albeit at a healthy "nominal" profit to the Treasury. [Just thinking crazy out loud - except what other returns might the underwriters, aka taxpayers, be entitled to under a theory of constructive trust?]

And is there anything to look at insofar as some banks may, in the past, have overshot their own manuals, standards and the law, in certain instances when it came to mortgage underwriting, MBS secutizations considering a certain courageous man's testimony before the FCIC backed up by his Nov 2007 email to certain senior execs....hmmmm.

Wonder what awaits us from the FCIC come December 15?
NOW - there might be a reason, that the US Treasury sold off them thar C shares - just thinkin' crazy outloud again...

Ending the siesta on the taxpayer's dime - one easy to read blog at a time.

DHS' See something say something 5 years late for some...

Given the damage to our economy since 2004/5 - not exactly by foreign terrorists this time but by enabled perps at all levels of government it's too bad - DHS didn't have a wider mandate; that of extending its authority over domestic regulators; perhaps it's not too late...

Ending the siesta on the taxpayers' dime - one easy to read blog at a time.