Toxic? Hey, these structured securities are triple-A rated by S&P.
OK I get it, this is the Fed’s America. But what if it comes unglued?
Of the 2.8 million interest-only mortgages in Britain, an estimated 1.3 million are ticking time bombs. And bankers have a special deal for them!
And HSBC still operates with full UK-government-sanctioned impunity.
The biggest challenge is to figure out what to laugh at first. So many frauds. So much nonsense. So little time.
What could go wrong? Hedge-Fund guru Paul Singer explains why they’re all doing it: a “wish not to be run over.”
Years of wondrous Wall-Street engineering dissolve in reality.
French Megabank: the ECB is “a prisoner of financial markets’ expectations.”
“We are not panicking” – bank CEO.
The “most reliable profit driver” has “abruptly turned sour.”