http://blogs.creativeloafing.com/theclog/2009/07/09/financial-sleazebaggery-it%e2%80%99s-ba-a-a-ck/ News and culture flowing daily... Mon, 23 Nov 2009 17:33:52 -0700 http://wordpress.org/?v=2.8.4 hourly 1 http://blogs.creativeloafing.com/theclog/2009/07/09/financial-sleazebaggery-it%e2%80%99s-ba-a-a-ck/comment-page-1/#comment-7329 Frank Griffin Fri, 10 Jul 2009 18:57:26 +0000 http://blogs.creativeloafing.com/theclog/?p=11041#comment-7329 I agree with Grooms on this but where was Grooms last week when Barney Frank tried to lower the lending standards at Fannie and Freddie again. Frank and Dodd played a huge part in the subprime mess but Grooms only wants to disscuss the symptoms (evil companies) and not the source (evil democrats) as usual. I agree with Grooms on this but where was Grooms last week when Barney Frank tried to lower the lending standards at Fannie and Freddie again. Frank and Dodd played a huge part in the subprime mess but Grooms only wants to disscuss the symptoms (evil companies) and not the source (evil democrats) as usual.

]]> http://blogs.creativeloafing.com/theclog/2009/07/09/financial-sleazebaggery-it%e2%80%99s-ba-a-a-ck/comment-page-1/#comment-7322 Financial sleazebaggery: It’s ba-a-a-ck! Thu, 09 Jul 2009 16:37:02 +0000 http://blogs.creativeloafing.com/theclog/?p=11041#comment-7322 [...] News Sources wrote an interesting post today onHere’s a quick excerptThis may seem completely unbelievable, but banks are getting back into the business of selling pure junk. Bloomberg news service is reporting that in recent weeks, banks have been “taking so-called structured finance securities and turning them into new debt investments with top credit ratings.” And now, Morgan Stanley is getting set to revive the scam — there’s no other word for it — that triggered last year’s financial meltdown: repackaging shoddy mortgage loans as AAA-rated bonds. That’s [...] [...] News Sources wrote an interesting post today onHere’s a quick excerptThis may seem completely unbelievable, but banks are getting back into the business of selling pure junk. Bloomberg news service is reporting that in recent weeks, banks have been “taking so-called structured finance securities and turning them into new debt investments with top credit ratings.” And now, Morgan Stanley is getting set to revive the scam — there’s no other word for it — that triggered last year’s financial meltdown: repackaging shoddy mortgage loans as AAA-rated bonds. That’s [...]

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