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Category Archives: Finance

If made, this is going to be one sweet movie ala “Wall Street”, “Boiler Room” and hopefully the upcoming movie “Money Never Sleeps”.


“Based on the true story of John D’Agostino, “Rigged: The True Story of an Ivy League Kid Who Changed the World of Oil, From Wall Street to Dubai” is about an Italian kid from Brooklyn who matriculates at Harvard and lands on the Merc Exchange. After establishing himself, the protagonist hooks up with another young trader and a mysterious Middle Easterner to engage in a dangerous scheme to revolutionize the oil trading industry.”


20 timeless money rules – Be humble (1) – Money Magazine

This is an excellent Money Magazine slide show on high-level money rules.

How Missed Signs Contributed to a Mortgage Meltdown – New York Times

I worked at a wholesale lender from 2004 to 2006.  The prevalence of no doc and low documentation loans always surprised me.  I remember telling a b-school colleague who worked for Bain back in 2005 how bad it was going to be when all the ARMs and teaser rates reset.

It’s called “payment shock” when a borrower’s payment all of a sudden doubles and it is a consideration in the loan underwriting process.  However when a borrower and broker is applying for a low doc/no doc/liar loan, the income is usually inflated, the reserves sitting in the bank have been borrowed and recently seasoned.  It was really a lot of gaming the underwriting guidelines.  The broker’s knew what they could get a way with, bad deals were made and now we are reaping the results as uncertainty hits global markets.

Business Infographics – Diagrams – Illustrations –

It looks like the ole Bloomberg terminal is finally getting a makeover.

Stock Message Board, Stock Blog, Stock Research, All-In-One!

This is by far the best tool I have found for researching stock message boards.

Fed Feels Pressure to Protect Consumers (Wall Street Journal)
State Regulators Offer Guidance on Mortgages (American Banker)
First Rung on Property Ladder Gets Harder to Reach (USA Today)
Loan Spree to Come Back Against Small Banks (Wall Street Journal)
Lender Courting ‘Green’ Clients (Sacramento Bee (Calif.))
Countrywide Warns Defaults Rising (Investor’s Business Daily)
Subprime Lender NovaStar Gets $150 Mln Infusion (Reuters)
Finance: Alliance Bancorp (Investor’s Business Daily)
Congressmen Push for Disaster Insurance (Palm Beach Post (Fla.))

U.S. to China: Buy Mortgage Debt (Investor’s Business Daily)
U.S. Real Estate Going Global (Inman News)
GSEs Detail Purchasing Plans (American Banker)
Missouri Title Insurance Law to Aid Consumers (St. Louis Post-Dispatch)
Can REITs Tower Again? (Wall Street Journal)

Fitch May Downgrade Bonds Tied to Subprime Mortgages (New York Times)
House GOP Legislation Would License Mortgage Lenders (Delaware News Journal)
Panel OKs Loan, Real Estate Bill (American Banker)
General Electric to Sell WMC Mortgage, A Subprime Loan Unit (New York Times)
Countrywide Sued in Race Bias Case (Los Angeles Times)
Mortgage Rate Rose in Week (Wall Street Journal)
Probe Sought of New Century-KPMG Dealings (Washington Post)
Time to Collect From Ameriquest (Washington Post)

Strong Mortgage Data Draw Some Skeptics (Wall Street Journal)
Pipeline: Reverse Revolution? (American Banker)
New HUD Unit to Oversee Lending (Washington Post)
Lenders Targeted by NAACP Lawsuit (Cincinnati Enquirer)
Fed, Treasury Officials Say Subprime Losses Not a Risk (Worcester Telegram & Gazette (MA))
Fitch Sees Rising Shakiness in Commercial Mortgage Arena (Wall Street Journal)
NAR Cuts ’07 Housing Forecast (Investor’s Business Daily)
New Cash Idea for Homeowners (Christian Science Monitor)
2,200 to Get Reprieves on Foreclosures (Boston Globe)

Subprime Loans Re-Evaluated (Raleigh News & Observer (NC))
Housing Woes Hurt Retailers, Builders and Credit Markets (Investor’s Business Daily)
Thrift Regulator May Ban ‘Unfair’ Lending Practices (Wall Street Journal)
Study Finds Bias in Lending (Washington Post)
ABA Fights Real Estate Brokerage Ban (American Banker)
State to Refinance Troubled Mortgages (Boston Globe)
Fed Chairman’s Talk Further Dims Hope for a Rate Cut (New York Times)
REIT Returns End Seven-Year Climb (Wall Street Journal)