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DOJ Announces $13 Billion “Largest Ever” Settlement With JP Morgan
To the DOJ, a $13 billion receipt is the “largest ever settlement with a single entity.” To #AskJPM, a $13 billion outlay is a 100%+ IRR. And perhaps more relevant, let’s recall that JPM holds $550...
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Guest Post: Debunking Real Estate Myths – Part 2: Overly Stringent Underwriting
Submitted by Ramsey Su via Acting Man blog, I remember Ben Bernanke saying that lenders are overly stringent on underwriting, unnecessarily so. I assume Ms. Yellen is parroting the same message, and so...
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How Healthy Is The Real Estate Market?
Submitted by Ramsey Su via The Acting-Man blog, The strength of the real estate market should not be measured by price appreciation, or the number of new and existing home sales. It should be measured...
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Frontrunning: February 19
Ukraine leader denounces coup bid, West weighs sanctions (Reuters) Time to buy Imodium calls: Kuroda Easing Doomed as Yen Seen Missing 120 Level (BBG) Teens Disappear From U.S. Workforce (BBG) Fed...
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So You Want to be a Mortgage Banker? Really?
So you want to be a rock’n’roll star Then listen now to what I say Just get an electric guitar And take some time and learn how to play And when your hair’s combed right and your pants fit tight It’s...
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How The Government Will Eliminate Fannie & Freddie (In One Simple Chart)
On Sunday, Senate lawmakers unveiled the 442-page plan that will eliminate the mortgage-finance giants; replacing them with a new system in which the government would continue to play a potentially...
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Will The Fed Intervene In The Oil Market?
Submitted by Charles Hugh-Smith of OfTwoMinds blog, In a larger sense, the Fed is already intervening in the oil sector via its zero interest rate policy (ZIRP) and its unlimited liquidity for...
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Investment Guide For The American Dystopia: Go Long the 1%, Short The Middle...
Submitted by Daniel Drew of Dark-Bid.com Investment Guide for the American Dystopia: Go Long the 1%, Short the Middle Class Would you short the Brady Bunch? I would. Mike Brady is supporting nine...
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Frontrunning: July 31
U.S. stock futures slip amid lukewarm earnings, fall in commodities (Reuters) Stressful times for low-polling Republicans who may miss debate stage (Reuters) Trump shows staying power with surge ahead...
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Here’s Why Housing Must Be Propped Up
Submitted by Charles Hugh-Smith of OfTwoMinds blog, If housing tanks, the last prop under the veneer of middle class wealth collapses. The Powers That Be have gone to extraordinary lengths to prop up...
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ZeroHedge: Wait A Minute – Who’s The Real Fascist?
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Submitted by Charles Hugh-Smith of OfTwoMinds blog, The core belief of the Establishment is the central state...
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David Dayen’s ‘Chain of Title’ Confirms What You Always Suspected: The Game...
“The personal sacrifices Lisa Epstein & Michael Redman make to become activists will leave all but Szymoniak permanently altered, and uncompensated for their efforts.” ~ David Dayen’s Chain of...
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Subprime Auto Loans Go Mainstream: Exposing The Shady Practices For...
While the pending subprime auto loan bubble pop is nothing new for our readers, it may be a shocking revelation for the average American who would fall victim of these scams. British comedian John...
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Mnuchin Dashes Banker Hopes That Prop Trading Is Coming Back
What a difference a week makes. On January 23, Reuters reported that dialing back the Volcker Rule which limits banks’ ability to engage in speculative investments using their own balance sheet, has...
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Steve ‘Big Short’ Eisman: Smart, Lucky, Abrasive (& Now One Of Them)
Authored by Jim Quinn via The Burning Platform blog, I loved Michael Lewis’ book – The Big Short – about the 2008 Wall Street created global financial catastrophe, that is still impacting the little...
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Did the Sub-Prime 2.0 Bubble Just Burst?
As you know, we’ve been tracking the sub-prime auto-loan industry closely. Our view is that this industry represents the worst of the worst excesses of our current credit bubble, much as the subprime...
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