Posts Tagged ‘writedown’Morgan Stanley Latest Band-Aid Over Fannie, Freddie’s Bullet HoleThis post first appeared on Minyanville and our sister site Dawn Patrol. It looks like all those short-sellers might have been on to something. Freddie Mac (FRE), the beleaguered mortgage giant that was just weeks ago on the brink of collapse, released second quarter results this morning that were nothing short of abysmal. Along with [...] Mortgage Reform: Why Government Intelligence is OxymoronThis post first appeared on Minyanville and our sister site Dawn Patrol. After leading the banking sector to its largest ever one-day drop yesterday, Washington Mutual (WM), in an effort to assuage concerns that it’s facing a cash crunch, released a statement claiming that the bank is “well-capitalized.” Though the stock bucked the trend this [...] The Silent KillerWhat’s the silent killer that’s been largely ignored by the financial media as it tries to keep up with the quickly unraveling mortgage crisis? Fraud. While there are many causes for the current meltdown, the most unexplored and and least discussed is fraud. FraudBlogger.com reported yesterday that there were $1.7 billion active cases of criminal [...] |