(From WallStreetJournalOnline)
Confessions of a Subprime Lender
By Richard Bitner
(Wiley, 186 pages, $19.95)
Three years ago, I had lunch with several mortgage-bond traders and analysts at Bear Stearns. The investment bank, already a huge trader and underwriter of securities backed by mortgages, had recently begun making home loans to consumers via brokers. I wondered why my hosts were [...]
Posts Tagged as ‘Bear Stearns’
June 26, 2008
BOOK REVIEW: Confessions Of A Subprime Lender
June 19, 2008
Feds Arrest Bear Managers, Mortgage Fraud Targets…
(From Forbes.com….)
One year since the collapse of two Bear Stearns hedge funds signaled the beginning of the credit crisis, law enforcement officials came out swinging Thursday to hold people accountable.
The managers of those Bear Stearns funds were indicted on multiple charges of fraud, conspiracy and, in the case of one, insider trading.
At about the time [...]
June 16, 2008
Was Bear Stearns Mortgage Hedge Fund Collapse Criminal?
(From NakedCapitalism.com)
The Wall Street Journal reports that criminal charges against the managers of the failed Bear Stearns hedge funds, Ralph Cioffi and Matthew Tannin, are imminent. The Journal also indicates there are no charges pending against Bear Stearns or any other Bear executives.
Pray tell, why not?
The funds were clearly under the supervision of Bear Stearns; [...]
June 8, 2008
Subprime Hindsight…It Takes A Pillage
(From the Salt Lake Tribune)
Yes, the executives at Countrywide Financial Corp. planned a top-dollar shindig at a ski resort earlier this year, just after the bank’s multibillion dollar losses on subprime mortgages required a shotgun marriage to Bank of America. (A Wall Street Journal story forced them to cancel the party.) And sure, Bear Stearns [...]
June 4, 2008
Accredited To Close Down Subprime Operations
HARD MONEY…..FHA..….PRIME (Subprime market collapses)
Accredited Home Lenders (LEND) is hardly a household name or even an industry leader. But its delayed 2006 annual filing, just filed with regulators Thursday, reveals how the subprime debacle has turned into a nightmare for lenders.
The filing is a Reader’s Digest version of how subprime loans went from lucrative sources [...]
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