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The Market Ticker: States Growing Hair On Their Pair
24/7 Wall St.: Today’s Best Market Rumors (11/3/2009) (CHU)(AAPL)(LGF)
Reactions
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States pondering fraud suits against banks for lending practices http://bit.ly/AuVGN - can suits against RE brokers be far behind? 15 days ago |
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States exploring fraud suits against banks in wake of housing collapse: http://www.nytimes.com/2009/11/03/business/03suits.html 17 days ago |
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States Are Pondering Fraud Suits Against Banks http://bit.ly/1rxUsm 18 days ago |
States Growing Hair On Their Pair
The Market Ticker —
... It's about damn time:
Frustrated by the banks’ inability or unwillingness to stop an avalanche of foreclosures, the states are considering lawsuits over the creation and marketing of millions of bad loans as well as the dismal pace of mortgage modifications.
Good.
As I have repeatedly opined, there is more than enough fertile ground here for lots of lawsuits to spring up and take root. Indeed, let's go down the list of what I believe are the grounds for such suits: ...
Today’s Best Market Rumors (11/3/2009) (CHU)(AAPL)(LGF)
24/7 Wall St. —
... helping the Italian company more than it does the American one. (Forbes) Several states hard hit by the real estate downturn are considering suing large mortgage lenders. (NYTimes) GM’s board may ...
Tuesday Readings
The Big Picture —
Some Tuesday reads:
• Howard Lindzon: The Top Ten Reasons You Sold Stocks on March 9th, 2009
• British break up several bailed-out banks (Washington Post)
• Synchronicity and Stock Prices (Barron’s)
• States Are Pondering Fraud Suits Against Banks (NYT)
• Malcolm Gladwell: How different are dogfighting and football? (New Yorker)
• Uncivil War: Conservatives to challenge a dozen GOP candidates (Politico)
• 2000-09: 50 Best Movies of the Decade (Paste)
What ...
Where do We come from, and where do We go?
Lawrance G. Lux —
... Bankers are a group of people who might find the economic profession more forgiving, and might invade the ranks of economists. Consider this article. The Witch Hunt is on! The Joke of it remains that State supervision of Banking practice may be the only reliable supervision of Banks, as federal regulation has little a priori supervision of Banking activities. There is no federal ombudsman system at the level where these instruments are made and sold, and federal regulators are functionally unreachable unless one possesses massive assets. Federal regulators talk only ...
