Comments on: Pecora in Perspective: Washington Post Searches for the Next Pecora http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/ Firedoglake weblog Sat, 18 Feb 2012 01:21:27 -0600 hourly 1 http://wordpress.org/?v=3.1.2 By: RickinSF http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979206 RickinSF Thu, 17 Sep 2009 20:54:58 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979206 <p>Here’s an article about it on the daily mail.</p> <p><a href="http://www.dailymail.co.uk/home/moslive/article-1212013/Revealed-The-ghost-fleet-recession-anchored-just-east-Singapore.html" rel="nofollow">http://www.dailymail.co.uk/hom.....apore.html</a></p> Here’s an article about it on the daily mail.

http://www.dailymail.co.uk/hom…..apore.html

]]> By: Cynthia Kouril http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979026 Cynthia Kouril Thu, 17 Sep 2009 11:33:46 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979026 <blockquote><p>Right now, we’re waiting for the other shoes to drop…like the world’s entire cargo shipping industry going bust…which is probably going to happen in the next year or so.</p></blockquote> <p>Yesterday I saw a photo of hundreds of empty cargo ships sitting at anchor in the pacific with nowhere to go. There was an article (might have been in the Guardian?) about the “ghost fleet”.</p> <p>The shipping industry collapse has already begun</p>

Right now, we’re waiting for the other shoes to drop…like the world’s entire cargo shipping industry going bust…which is probably going to happen in the next year or so.

Yesterday I saw a photo of hundreds of empty cargo ships sitting at anchor in the pacific with nowhere to go. There was an article (might have been in the Guardian?) about the “ghost fleet”.

The shipping industry collapse has already begun

]]> By: Cynthia Kouril http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979024 Cynthia Kouril Thu, 17 Sep 2009 11:29:38 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979024 <p>Hugh whether you like the make up of the committee or not, it is the SATFF that does the work in hte trenches. A strong staff witha clear vision and good fraud investigations skills can get a lot done</p> Hugh whether you like the make up of the committee or not, it is the SATFF that does the work in hte trenches. A strong staff witha clear vision and good fraud investigations skills can get a lot done

]]> By: Cynthia Kouril http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979023 Cynthia Kouril Thu, 17 Sep 2009 11:28:30 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1979023 <p>If you go read the enitre article I link to, it points out that the drama of the commission hearings fueled the public outrage that made a climate where such reform bills could actually pass Congress.</p> <p>We need that kind of political theatre so that the public will demand these reforms and so banksters (what a great term for the 30’s) will be sufficiently reticent that there will be less pushback from them on reform.</p> If you go read the enitre article I link to, it points out that the drama of the commission hearings fueled the public outrage that made a climate where such reform bills could actually pass Congress.

We need that kind of political theatre so that the public will demand these reforms and so banksters (what a great term for the 30’s) will be sufficiently reticent that there will be less pushback from them on reform.

]]> By: timbo http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978990 timbo Thu, 17 Sep 2009 05:24:41 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978990 <p>Well, given that the financial crisis is going to deepen before it gets better, I’d say it’s likely that there will be a commission investigation with some teeth in it. As noted, the Pecora cross-examinations did not take place until four years after the crisis of the 1930s had begun in 1928-29. Right now, we’re waiting for the other shoes to drop…like the world’s entire cargo shipping industry going bust…which is probably going to happen in the next year or so. There are probably a few other sectors slated to take some serious hits too. So, when that happens, there is going to be some more economic turmoil to remind us all that the “presents” of the last two decades of unbridled greed and speculation will have to investigated as to precisely who provided us with these gifts.</p> Well, given that the financial crisis is going to deepen before it gets better, I’d say it’s likely that there will be a commission investigation with some teeth in it. As noted, the Pecora cross-examinations did not take place until four years after the crisis of the 1930s had begun in 1928-29. Right now, we’re waiting for the other shoes to drop…like the world’s entire cargo shipping industry going bust…which is probably going to happen in the next year or so. There are probably a few other sectors slated to take some serious hits too. So, when that happens, there is going to be some more economic turmoil to remind us all that the “presents” of the last two decades of unbridled greed and speculation will have to investigated as to precisely who provided us with these gifts.

]]> By: TEBB http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978831 TEBB Thu, 17 Sep 2009 02:53:51 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978831 <p>ubetchaiam - the Franklin Bank deal-the reason the FDIC sold a 50% stake was so that the FDIC could retain part and thus have some “up side.” Also, by selling a smaller stake there were more organizations that could afford to bid, which means more competition and thus a better price.</p> <p>I’m guessing that the note was payable to the FDIC as receiver for Franklin Bank, while the guaranty of it was made by the FDIC Corporate. I don’t understand the amount of the note itself. </p> <p>As for these being whole loans and not securities, evidently Franklin originated the loans and either chose to not sell them off for securitization, or wasn’t ABLE to sell them off for securitization.</p> ubetchaiam – the Franklin Bank deal-the reason the FDIC sold a 50% stake was so that the FDIC could retain part and thus have some “up side.” Also, by selling a smaller stake there were more organizations that could afford to bid, which means more competition and thus a better price.

I’m guessing that the note was payable to the FDIC as receiver for Franklin Bank, while the guaranty of it was made by the FDIC Corporate. I don’t understand the amount of the note itself.

As for these being whole loans and not securities, evidently Franklin originated the loans and either chose to not sell them off for securitization, or wasn’t ABLE to sell them off for securitization.

]]> By: Larue http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978828 Larue Thu, 17 Sep 2009 02:11:05 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978828 <p>Just read this, and got leaky eyes.</p> <p>I’m a BIG fan of Mary Travers, have been for decades.</p> <p>A big voice, one that could hang with Cass Elliott, Janis, or anyone, in any genre.</p> <p>A folkie, who shared her gift with us for what, 6 decades?</p> <p>A big, big voice, from the 50’s to just last year.</p> <p>A big heart, too. Damn. </p> <p>Bless her for sharing her gift with us all for so long. </p> <p>‘Cross The River Jordan, Mary. Up Jacob’s Ladder. And yer home, gal.</p> <p>Sigh. Sniff.</p> Just read this, and got leaky eyes.

I’m a BIG fan of Mary Travers, have been for decades.

A big voice, one that could hang with Cass Elliott, Janis, or anyone, in any genre.

A folkie, who shared her gift with us for what, 6 decades?

A big, big voice, from the 50’s to just last year.

A big heart, too. Damn.

Bless her for sharing her gift with us all for so long.

‘Cross The River Jordan, Mary. Up Jacob’s Ladder. And yer home, gal.

Sigh. Sniff.

]]> By: Larue http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978827 Larue Thu, 17 Sep 2009 01:55:05 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978827 <p>Damn, and I was feelin SO hopeful.</p> <p>Musta been the cheap merlot.</p> <p>Thanks Hugh . . . you DO provide details for your posits, ‘preciate it.</p> Damn, and I was feelin SO hopeful.

Musta been the cheap merlot.

Thanks Hugh . . . you DO provide details for your posits, ‘preciate it.

]]> By: Larue http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978826 Larue Thu, 17 Sep 2009 01:53:48 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978826 <p>Good point. </p> <p>Glass Stegall was fine, till it was repealed.</p> <p>I’d think, though, we might need IT, and more. </p> <p>But yeah, bring back GS AND do the commission.</p> <p>We KNOW they are guilty! </p> <p>*G*</p> Good point.

Glass Stegall was fine, till it was repealed.

I’d think, though, we might need IT, and more.

But yeah, bring back GS AND do the commission.

We KNOW they are guilty!

*G*

]]> By: sunshine http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978824 sunshine Thu, 17 Sep 2009 01:44:12 +0000 http://firedoglake.com/2009/09/16/pecora-in-perspective-washington-post-searches-for-the-next-pecora/#comment-1978824 <p>Great post, thanks.<br /> Who is Residential?</p> <blockquote><p>Residential Credit Solutions Business InformationIs this your company?<br /> Residential Credit Solutions is a private company categorized under Nonclassified Establishments and located in Fort Worth, TX. Current estimates show this company has an annual revenue of unknown and employs a staff of approximately 1 to 4.</p></blockquote> <p><a href="http://74.125.95.132/search?q=cache:5n7wIAI8xr8J:www.manta.com/coms2/dnbcompany_6p2smw+%22Residential+Credit+Solutions+Inc.%22&cd=8&hl=en&ct=clnk&gl=us" rel="nofollow">http://74.125.95.132/search?q=.....#038;gl=us</a></p> Great post, thanks.
Who is Residential?

Residential Credit Solutions Business InformationIs this your company?
Residential Credit Solutions is a private company categorized under Nonclassified Establishments and located in Fort Worth, TX. Current estimates show this company has an annual revenue of unknown and employs a staff of approximately 1 to 4.

http://74.125.95.132/search?q=…..#038;gl=us

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