Showing posts from August, 2012

Washington Policies Spawned the Toxic Mortgages and Assets That Brought Us the Financial Crisis

Lecture to Ethics Class
Carey School of Business, Johns Hopkins University
Legg-Mason Building, Baltimore East Harbor Campus
Inner Harbor, Baltimore, Maryland

August 27, 2012

By Robert Stowe England

It’s nearly four years since the advent of financial crisis. Yet, for most Americans, a thick fog still shrouds its origins

Finding the answer to what went wrong is what compelled me to write Black Box Casino. In the end, it was a detective story where even a list of important actors could run into the hundreds.

At the center of origins of the crisis is a single industry – the mortgage industry.

As senior writer for Mortgage Banking magazine since 1988, I have reported on the vast changes sweeping through the industry for more than two decades.

The mortgage industry in 2008 was nothing like it was when I started covering it.

Twenty years ago the mortgage industry was disciplined by the free market. It was flexible and innovative. New loan products would appear and market players would exp…

Wilbur Ross on European Opportunities

Wilbur Ross is interviewed on CNBC's Squawk Box August 14, 2012

Rough transcript of interview:

Joe Kernen: Restructuring legend Wilbur Ross is here and goes all over the place in search of opportunity, back from a fresh trip to Greece, joins us for the next two hours. Wilbur, it's been probably, has it been six months since I've seen you?

Wilbur Ross: A few months, maybe three or four.

Joe Kernen: Three or four months, and it's great at this point in time just to hear where you are on things like housing and europe and everything else. In looking at some of the things you said in the preinterview, we were hoping maybe the continent was improving a little. In your view as far as Greece goes we don't know how bad it actually is?

Wilbur Ross: I think the continent in general is improving quite a bit. the french gdp figures that were just released for the second quarter were not bad at all. germany was a little bit better than expected, and those are two very big engi…

Belski: Stocks on Verge of 'Great Bull Run'

Aug. 7 (Bloomberg) -- Brian Belski, chief investment strategist at BMO Capital Markets, talks about the outlook for the U.S. stock market and investment strategy. Belski speaks with Tom Keene, Scarlet Fu and Sara Eisen on Bloomberg Television's "Surveillance." (Source: Bloomberg)