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Posts Tagged ‘CPI’

Increasing Pressure on DSK and the Euro-Zone

Posted by Larry Doyle on May 23rd, 2011 8:58 AM |

Despite areas of concern both here at home and around the world, most eyes remain fixated on developments within the Euro-zone at large and specifically on the case of former IMF head Dominique Strauss-Kahn.

The temperatures are rising on both the dethroned former international banker extraordinaire and the peripheral countries of the EU. Our market is opening sharply lower this morning on the heels of weakness in the EU. Let’s navigate.

People the world over want to know what really happened a week ago this past Saturday in the suite occupied by DSK at the Sofitel Hotel in New York City.  (more…)

David Rosenberg’s Sense on Cents

Posted by Larry Doyle on May 4th, 2011 5:39 AM |

David Rosenberg is a Sense on Cents All-Star. While many do not agree with Rosenberg’s overall assessments of the economy and the markets, I have untold appreciation and respect for his thoughtful and astute analysis. He recently spoke at an investment conference. Robert Huebscher of Advisor Perspectives captured Rosenberg’s thoughts in his piece, My Breakfast with Dave.

For those with even a passing interest in the economy and markets, I strongly recommend even a cursory review of Rosenberg’s remarks as he offers keen insights on a variety of angles and impacts embedded in the ongoing inflation vs deflation debate. What does Dave see for commodities, housing, interest rates? Read on….a wealth of ‘sense on cents’ awaits you. (more…)

Who is More Effective, Wikileaks or SEC?

Posted by Larry Doyle on January 31st, 2011 10:13 PM |

If you were a senior accountant at a firm and suspected senior officials of perpetrating a fraud, would you run the risk of professional suicide and bring the information to the SEC or maintain cover and contact Wikileaks? What do you think? Do the right thing and hope you are protected or put your trust in the great equalizer known as Wikileaks?

Let’s not lose faith in Uncle Sam, right? Go straight to Washington and let them do their thing protecting America, yes? Well, maybe not.

Let’s check in with somebody who went to Washington while blowing the whistle on one of the greatest frauds in the history of our nation. Of whom do I speak? Sherron Watkins. Sherron who? Remember Enron? (more…)

Aiding and Abetting Mortgage Fraud

Posted by Larry Doyle on October 19th, 2010 4:54 AM |

While selected Wall Street banks and their cronies in Washington may want to downplay the depth and impact of the mortgage fraud embedded in our national foreclosure crisis, anyone with a modicum of ‘sense on cents’ knows that this fiasco has many players with their hands in the till. Our friends at The Center for Public Integrity recently highlighted the manner in which those in the legal profession have aided and abbeted this enormous fraud. Let’s navigate.

The role of lawyers in the foreclosure process has garnered less attention, but they play a big role, especially in those states that require banks to go to court to get a foreclosure order. (The same states where the lenders have suspended foreclosures). In these states, banks are required to produce a notarized affidavit of a loan officer and submit the mortgage documents. Those documents, though, are difficult to produce, thanks to the securitization craze.

As CNBC notes in this helpful primer to the foreclosure crisis, every time a mortgage changes hands, the new owners are supposed to receive an “assignment” of the mortgage notes from the buyers. For securitized loans, the mortgages are assigned to a specially created investment vehicle.

During the housing bubble, however, the notes and other critical documents were often either not properly transferred or simply not created. Other records vanished along with failed brokers and lenders. This means that lawyers charged with putting together the paper trail often have a tough job. Over the past few years, some have used shortcuts. (more…)






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