Silver as an investment

Category Archives: GMAC

Something Wicked This Way Comes

Submitted by Jim Quinn via The Burning Platform blog, I stopped trying to predict markets back in 2008 when the Federal Reserve, Treasury Department, Wall Street bankers, and their propaganda peddling media mouthpieces colluded to rig the markets to benefit the elite establishment players while screwing average Americans. I haven’t owned any stocks to speak […]

Pathetic: Wells Fargo Steps Up Scandal Control With TV Ad Over Bogus Accounts

Wells Fargo Steps Up Scandal Damage Control With TV Ad Push Reminds me of the GMAC videos when they changed their name to Ally after they got busted stealing the homes of millions of people… If you haven’t seen them, I embedded a few below. Wells Fargo & Co., trying to quell a scandal that […]

Days Of Crony Capitalist Plunder – The Deplorable Truth About GE Capital

Submitted by David Stockman via Contra Corner blog, GE’s announcement that its getting out of the finance business should be a reminder of how crony capitalism is corrupting and debilitating the American economy. The ostensible reason the company is unceremoniously dumping its 25-year long build-up of the GE Capital mega-bank is that it doesn’t want to be regulated by Washington as […]

Fred Feldkamp on Fraud and True Sale

Below is the text of a lecture that my friend and co-author Fred Feldkamp gave to a group at KBRA last month on the topic of true sale. This discussion is further to our 2014 book, Financial Stability: Fraud, Confidence & the Wealth of Nations. A discussion of true sale naturally lends itself to a […]

Goldman Confirms Subprime Responsible For Collapse In Auto Sales

We’ve written extensively of late about the parallels between today’s subprime auto lending market and the conditions that prevailed in the subprime housing market on the eve of the collapse. Essentially the dynamic is the same. Lending to underqualified borrowers proliferates, leading to a large pool of securitizable loans. Issuance of ABS based on those […]

Breaking Bad (Debt) – Episode 2

Submitted by Jim Quinn via The Burning Platform blog, ‘If you’re committed enough, you can make any story work. I once told a woman I was Kevin Costner, and it worked because I believed it’ – Saul Goodman – Breaking Bad “As calamitous as the sub-prime blowup seems, it is only the beginning. The credit […]

Sayonara Global Economy

Submitted by Jim Quinn via The Burning Platform blog, “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe […]

The Only Financial Ratio That Truly Matters

When stock prices go all wonky, as they have in recent days, it pays to think a little about what really moves asset prices and determines long term business success.  For ConvergEx's Nick Colas, the key driver has been – and always will be – return on capital.  What investment analysts know as the DuPont […]

Settlements and Fines from TBTF Institutions Since the Crisis

Let’s take a look at the amount of settlements/fines from various banks and financial institutions around the world since the crisis. There are probably a lot of settlements/fines I have missed, frankly the amount below is already staggering, so this is a very rough estimate. Some perspective, most of these individual banks have now paid […]

GMAC 2.0: ALLY Opens Below Its IPO Price

Another day, another ‘failed’ IPO. Ally Financial – aka GMAC – that bastion of subprime auto loans and risk management, IPO’d at $25 last night (at the very bottom of the $25 to $28 range) but investors seem to prefer to sell their allocations than pile into this ‘bank’. Enabling the Treasury to exit more […]