• News

    Ken Lewis Raises More Eyebrows Than Just Ours

    We wondered if Ken Lewis bothered to read the Material Adverse Change clause for the Merrill Merger very carefully. Either he did, and managed to pull off a fantastic bluff over Paulson’s head, or he paid as little attention as anyone else. We took a look at the details yesterday in: What Was Lewis Really […]

    / Apr 28, 2009 at 4:11 PM
  • News

    Can I Use ‘CDO’ As A Verb Here?

    As a regulator, what do you do when you have absorbed massive amounts of encumbered or otherwise distressed former CDO assets from a bunch of blown out former financial institutions? Well, if anyone here is old enough to remember the Resolution Trust Corporation, you already know. You make another CDO out of it, but this […]

    / Sep 18, 2008 at 4:05 PM
  • News

    Paulson Coming Full Circle

    To fuck you again! Just kidding. We have no idea if that’s the master plan, but would it be so crazy to assume that John “Forclosure is Your Friend” Paulson is starting a fund to provide capital to financial firms hurt by mortgage writedowns in order to get them back on their feet just before […]

    / Jul 23, 2008 at 9:45 AM
  • News

    Bernanke and Paulson Friends Forever, Push Blueprint in DC

    The testimony before the House today showed a very collegial relationship between Bernanke and Paulson as they alternately answered questions and swatted down attacks. Their explanations stuck to the plan, specifically Paulson’s Blueprint, as they repeatedly mentioned that Congress would need to reform financial regulation as well as grant new powers. Most startling to our […]

    / Jul 10, 2008 at 2:01 PM
  • News

    Mr. Bernanke Goes to Washington

    Ben Bernanke and Hank Paulson are currently testifying before the House about current economic conditions. Besides staring at Hank’s sports watch while a congressman complains about the scarcity of student loans, we’ve also been enjoying Bernanke’s back and forth with the representatives. One congressman challenged Bernanke directly, attacking the federally-sponsored buyout of Bear Stearns and […]

    / Jul 10, 2008 at 1:45 PM
  • News

    News Travels Slow In Washington

    Hey, so I was doing this story, you know, for my job with the Post? Yeah, yeah, I know. Anyhow, check it. Believe it or not, this guy John Paulson, he is this guy who made a lot of money by shorting sub-prime. I mean a lot. Like enough to buy Bear Stearns. Or enough […]

    / Apr 17, 2008 at 1:15 PM

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