mohit | Shared With: Everyone - 2 days ago | jpmorgan, risk, loans, mortgages, investment club, finance
Quoted: The Oregonian reported Friday morning that it obtained a copy of an internal JPMorgan Chase (“JPMC”) memo titled “Zippy Cheats & Tricks” that provides step-by-step instructions on how to enter false data into a loan approval system called ‘Zippy.’ (Hat tip to Calculated Risk.) In essence, an in-house guide to committing mortgage fraud. Here are pertinent excerpts of the Oregonian report:
mohit | Shared With: Everyone - May 05 2008 | news, investment club, investing, stocks, finance
mohit | Shared With: Everyone - Apr 16 2008 | news, investing, investment club, finance, economics
mohit | Shared With: Everyone - Apr 13 2008 | investment club, investing, google, yahoo, finance
mohit | Shared With: Everyone - Apr 01 2008 | mortgages, finance, subprime, news, economics, toread
Quoted: I think this is basically a good idea. If the government is going to bail out the people trading with Bear Stearns in an effort to calm the markets, then they might as well go right to the source of the poison and clean up the mortgage mess. But it has to be done right. And I think that insuring the mortgages instead of buying them, as was done in the depression, is an idea with some merit.
mohit | Shared With: Everyone - Mar 28 2008 | investment club, finance, subprime, education
mohit | Shared With: Everyone - Mar 28 2008 | finance, credit crisis, news
The Mar 19th issue has a number of articles attempting to explain the credit crisis. I found the following interesting:
Quoted: In a recent study Martin Barnes of BCA Research, a Canadian economic-research firm, traces the rise of the American financial-services industry's share of total corporate profits, from 10% in the early 1980s to 40% at its peak last year (see chart 1). Its share of stockmarket value grew from 6% to 19%. These proportions look all the more striking—even unsustainable—when you note that financial services account for only 15% of corporate America's gross value added and a mere 5% of private-sector jobs.
mohit | Shared With: Everyone - Mar 04 2008 | cd's, finance, banking, investment club, investing
mohit | Shared With: Everyone - Feb 26 2008 | google, investment club, news, finance
Quoted: Google is down $35 a share to around $451 and continues to be under pressure. Why? comScore came out with January U.S. paid search data and it doesn’t look good. Google’s sponsored clicks were down 7 percent month-over-month, effectively flat year-over-year and down 12 percent quarter-over-quarter.
mohit | Shared With: Everyone - Jan 18 2008 | investing, investment club, finance, stock market
The first few weeks of this year have been brutal -- erasing nearly all the gains from last year.
Quoted: Stocks suffered their biggest losses since November as new problems in financial stocks just plain frightened many investors and official Washington started to cobble together plans to stave off a recession.
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