House Democrats Bash Federal Reserve for Not Aiding Muni Market – Andrew Ackerman – Bond Buyer
————

Taxpayer Concerns Mounting Over TARP Warrant Sale – By MATTHEW JAFFE – Will Taxpayers Receive What They Are Owed as Bailed Out Banks Repay the Government? – ABC News
————

FDIC: Large US banks to shoulder more cleanup costs – Karey [...]

[Read more →]

After Roy Lichtenstein, TIME June 21, 1968.
I wish I could take full credit for my heist of Lichtenstein’s TIME ™ cover – but I can’t.
Credit belongs to Geetesh Bhardwaj and Rajdeep Sengupta, co-authors of two disturbing St. Louis Fed working papers:

Where’s the Smoking Gun? A Study of Underwriting Standards for US Subprime Mortgages (WP 2008-36, [...]

[Read more →]

U.S. Pension Crisis: the $3 TRILLION question – Jeff Nielson – … State and local governments had unfunded liabilities for retiree health-care of close to or above, $1 trillion, according to the Center for Retirement Research at Boston College…. This large, unfunded liability is totally separate from the roughly $40 TRILLION in unfunded health-care [...]

[Read more →]

Distressed AVM: IAS Touts Updated AVM, Consideration of ‘Distress’ – By KELLY CURRAN – Most industry leaders anticipate an increasing volume of distressed properties and fluctuating loan-to-value ratios over the next several quarters as default and REO properties continue to enter the market.  Default management services provider, Integrated Asset Services, unveiled a tool to help [...]

[Read more →]