Silver as an investment

Category Archives: Structured Finance

So Why Did Capital One “Suddenly” Exit Mortgage Lending??

Last week, Capital One Financial (COF) announced that is was formally withdrawing from the residential mortgage loan market.  Some observers mistook this announcement for news, thinking that COF had actually been engaged in residential lending in a serious way.  Housing Wire, for example, reported that COF had “suddenly” exited the mortgage and home equity business. […]

“They’re Ba-ack!” – Citi Says Synthetic CDOs May Reach $100 Billion In 2017, 5x Increase In 2 Years

35-year-old Jia Chen of Citibank probably has no idea where that title quote above came from.  That’s because she was roughly 4 years old when Poltergeist II hit theaters back in 1986… …that said, Citibank, as we noted a few weeks back, has every confidence that Jia is the perfect person to put in charge […]

How Much Is Equity Research Actually Worth? Probably Less Than You Thought

Over the past several months, investment banks all across Europe have scrambled to put a price tag on their equity research after years of giving it way as a ‘freebie’ in return for trading commissions. Of course, for wall street’s titans of finance, you know, the same guys who will look you straight in the […]

Goldman Is Allowing Its Clients To Bet On The Next Financial Crisis

Just over a decade ago, as the S&P was hitting all time highs and there was a line around the block of 30-some year old hedge fund managers, desperate to put other people’s money in various ultra risky investments just so they could pick a few excess bps of yield over Treasurys – a situation […]

About That Debt Ceiling Crisis…

With just one month left until the “X Date”, better known as the first day on which Treasury has exhausted its borrowing authority and no longer has sufficient funds to pay all of its bills in full and on time, and also known as the date the US is technically in default on its debt […]

Which States Have Suffered The Biggest Retail Losses

With the great retail bankruptcy tsunami claiming its latest victim on Thursday, when Gymboree announced it wouldn’t make its June 1 interest payment guaranteeing a Chapter 11 bankruptcy filing in the next month, the signs continue to mount that the next “big short” – either in the form of REITs, CMBS, CMBX, or single name […]

The Other Shoe Drops: Prime Auto Loan Losses Surge As Recoveries Tumble

When we looked at subprime auto delinquencies most recently, we found some troubling trends: first, in February, we showed that 61+ day delinquencies in General Motors’ subprime securitization book would support a rather bleak thesis for future auto sales, and specifically the demand side of the equation, with January 2017 delinquency rates soaring to the […]

Snyder Warns Of The Ticking Time Bomb That Could Wipe Out Virtually Every Pension Fund In America

Authored by Michael Snyder via The Economic Collapse blog, Are millions of Americans about to see the big, juicy pensions that they were counting on to fund their golden years go up in flames in the biggest financial disaster in U.S. history? When Bloomberg published an editorial entitled “Pension Crisis Too Big for Markets to […]

Why Is Goldman On A Buying Spree For Delinquent Mortgages

Last year Goldman Sachs entered into a settlement with federal and state governments over its role in packaging and selling toxic mortgage-backed securities in the housing meltdown to unsuspecting buyers while subsequently turning around and shorting those very same securities.  As part of the settlement, Goldman agreed to provide $1.8 billion in homeowner debt relief […]

How The Obama Administration Quietly Bailed Out Private Equity Landlords At The Expense Of The Middle Class

Authored by Yves Smith, originally posted at NakedCapitalism.com, So how much did Blackstone promise to give to the Obama library for this huge grift, um, parting gift? As regular readers may recall, private equity firms piled into buying foreclosed single family homes on the belief that if the government (in this case, Fannie and Freddie) […]