Yes, The Twelve Days of CalPERS by Yves Smith at naked capitalism is very witty, but it plays into the hands of those who would like to see public pensions dismantled. I like some of the work Yves Smith has have been reporting on CalPERS, which obviously needs not only watching but needs to be constantly reminded of its […]
Tag Archives | Yves Smith
Mortgage Foreclosures: Robo Affidavits & REMICs
James McRitchie, 10/13/2010 ,
The financial and mainstream media have missed the real bombshell in the mortgage foreclosure mess. It isn’t about “sloppy paperwork.” The robo affidavits are an attempt to hide the fact that (1) the mortgage securitization trusts or REMICs didn’t comply with the IRS rules, and (2) the trusts may not have had a legal interest […]
Resolving Myopia and Speculation
James McRitchie, 07/06/2010 ,
Over the past decade and a half, corporations have been saving more and investing less in their own businesses. A 2005 report from JPMorgan Research noted with concern that, since 2002, American corporations on average ran a net financial surplus of 1.7 percent of the gross domestic product — a drastic change from the previous […]