Subprime: animazione 3d by beeple
2009-04-22 09:23:00 beeple (Mike Winkelman) ha creato "subprime" come risposta visiva alla tendenza di consumo eccessivo da parte degli americani, ma invece di fare come nel suo stile consueto grafici e immagini, ha realizzato un notevole lavoro in 3d. Nel video è rappresentata l'evoluzione di un'abitazione in un unico sito. La rotazione della visuale e la colonna sonora (musica di Nobot) creano un effetto ipnotico che sottolineano il messaggio di un video, che vuole essere soprattutto ironico nei confronti di chi vuole costruire sempre di più senza pensare troppo.. [via motionographer]
Subprime: animazione 3d by beeple
2009-04-22 09:23:00 beeple (Mike Winkelman) ha creato "subprime" come risposta visiva alla tendenza di consumo eccessivo da parte degli americani, ma invece di fare come nel suo stile consueto grafici e immagini, ha realizzato un notevole lavoro in 3d. Nel video è rappresentata l'evoluzione di un'abitazione in un unico sito. La rotazione della visuale e la colonna sonora (musica di Nobot) creano un effetto ipnotico che sottolineano il messaggio di un video, che vuole essere soprattutto ironico nei confronti di chi vuole costruire sempre di più senza pensare troppo.. [via motionographer]
Book Review: Plunder ? Investigating Our Economic Calamity And The Subprime
2008-12-05 17:34:00 A more timely book I can not think of. The mortgage world is in tatters, banks are falling in ever increasing numbers, and our flagship automotive industry is going cap in hand to the government begging for a bail out package. Plunder makes for a very interesting read, it takes a long hard look at what ...
Obama's kind of folks take the lion's share of blame for the subprime and t
2008-11-20 19:19:00 UPDATING 11-24-2008 see at bottomObama's friends among "liberal" politicians, directors at Fannie Mae and Freddie Mac, and the Clinton Administration, bear the lion's share of guilt for the subprime mortgage collapse that led to the general worldwide economic collapse. Nevertheless, let's not exonerate Bush Jr and Hank Paulson, his Treasury secretary, for their neglect of problems that were evident two years ago. But Obama consulted with Franklin Raines and got big contributions from Raines' Fannie Mae, while Rahm ["Kapo"] Emanuel was a director at one of the two Federal-govt sponsored lenders and dealers in subprime mortgages, not to mention Jim Johnson, formerly of Lehman Bros who was asked by Obama to sit on his vice-presidential candidate selection committee, along with Caroline Kennedy of the super-rich Kennedy family.John Steele Gordon explains how the crisis developed, going back to the Franklin Roosevelt administration of the 1930s, with a historical parallel from the 19...
By: Emet m\'Tsiyon
A U$1,4 trillones ascendería la deuda de la crisis subprime
2008-11-11 02:00:00 A U$1,4 trillones ascendería la deuda de la crisis subprime según indica John Hatzis, economista en jefe de Goldman Sachs. El mismo pide estímulos fiscales y económicos para salir de la situación financiera, algo que por cierto vendría de los bolsillos que estos ladrones con corbata han empobrecido para hacerse millonarios.
By: La Página
On subprime loans and securitization
2008-10-31 06:51:00 This post follows the request from two of our readers in the shout-box on Indian Current Affairs.Though we have covered it quite a few times in our blogs, I take this opportunity again for the benefit of newcomers to our blogs.The term 'subprime loan' refers to loans advanced to subprime borrowers. Subprime refers to the borrower's classification. A borrower is classified as subprime when her creditworthiness is less than perfect. That is her ability to repay the loans given her is fraught with high risk. Therefore, the rate of interest on loans given to her attract higher rates and usually prepayment penalties.Securitization of these subprime loans means pooling and repackaging these loans into securities that are sold to investors who are willing to buy them. Because the lender has already invested his money in giving loans to subprime borrowers, by securitizing them, what he does is raise more money on the strength of the asset (subprime loans given by him) from willing i...
By: Discover It
On subprime loans and securitization
2008-10-31 06:51:00 This post follows the request from two of our readers in the shout-box on Indian Current Affairs.Though we have covered it quite a few times in our blogs, I take this opportunity again for the benefit of newcomers to our blogs.The term 'subprime loan' refers to loans advanced to subprime borrowers. Subprime refers to the borrower's classification. A borrower is classified as subprime when her creditworthiness is less than perfect. That is her ability to repay the loans given her is fraught with high risk. Therefore, the rate of interest on loans given to her attract higher rates and usually prepayment penalties.Securitization of these subprime loans means pooling and repackaging these loans into securities that are sold to investors who are willing to buy them. Because the lender has already invested his money in giving loans to subprime borrowers, by securitizing them, what he does is raise more money on the strength of the asset (subprime loans given by him) from willing i...
By: Discover It
En un 2% bajará el PIB Mundial producto de la crisis subprime
2008-10-15 04:00:00 En un 2% bajará el PIB Mundial producto de la crisis subprime este año. Para los que no entienden, esto quiere decir que el mundo dejará de crecer en un 2% provocando las respectivas perdidas económicas que todos esperan. Los datos fueron dados por la agrupación global de cámaras de comercio.
By: La Página
La Crisis Subprime y su impacto en Chile
2008-10-15 01:00:00 Mucho nos llamará el Gobierno y Hacienda a la tranquilidad en esta crisis económica que afecta al mundo, pero la gente tiene dudas, muchas, y hasta ninguna ha sido respondida como Dios manda por nuestros expertos en La Moneda. ¿Nos afectará la crisis subprime? ¿Sí o No? Esta es la madre de todas las preguntas, y lamentablemente se compone de demasiadas interrogantes.
By: La Página
Crisis Subprime; Arréglensela como puedan
2008-10-07 15:00:00 La crisis económica nos plantea una nueva encrucijada, un recreo para replantear lo que somos, lo que nos hemos convertido y hacer algo por enmendar el rumbo consumista en el cual decidimos caminar. No todo puede ser tan malo como se cree. La crisis hoy nos plantea posibilidades de rehumanizarnos que meses atrás hubieran sido impensadas.
By: La Página
Queen Hit by Subprime Mortgage Crisis
2008-10-06 16:49:00 The borough of Queens that is located in New York is facing maximum number of subprime mortgage crisis cases in the city?s real estate market. It has been noticed that the rate of foreclosures in the month of August in Queens increased by nearly 45% from what it was in July this year. On the ...
Libertarians to Blame for SubPrime Crisis? Not So Much ?
2008-09-18 23:04:00 By -Ken Marrero Normally, I don’t mind someone making themselves look silly. The entertainment value is high and I’m on a budget so I find my entertainment where I can. But when someone both looks silly and tries to drag me into the entertainment by association, if I have the time I’m generally disposed to comment. ...
By: Publius Forum
U.S. subprime mortgage crisis hits Discount and Leumi too
2008-07-15 18:41:00 From HAARETZShares of Israel Discount Bank and Bank Leumi had a very bad time last week - Discount fell about 12% and is now down 33% from the start of the year, the worst performance by any of the five large banks. Leumi dropped 10% and is now down 17% this year.The pressure on the two stocks comes from overseas. The huge losses racked up by the semi-governmental U.S. mortgage lenders Freddie Mac and Fannie Mae have brought these U.S. firms near the verge of bankruptcy, said a number of senior U.S. government officials at the end of last week. Fannie Mae shares have plunged 74% since the start of the year, and 85% over the past 12 months. Freddie Mac shares performed even worse: down 77% since the start of the year, 87% over the past 12 months.And what does that have to do with Leumi and Discount? Discount has a large investment in the two firms' mortgage-backed securities, and if as feared Fannie and Freddie have to raise a total of $75 billion in the near future - a near-impossi...
Taiwan says companies had $1.4 bln subprime losses
2008-07-09 18:49:00 From ReutersTAIPEI, July 9 (Reuters) - Taiwan financial firms have suffered losses of T$42.572 billion ($1.4 billion) since August 2007 in investments related to U.S. subprime products, the island's top financial regulator said on Wednesday.Of the total, banks took a hit of T$34.172 billion and insurance companies lost T$8.4 billion, the Financial Supervisory Commission (FSC) said in a statement.Subprime problems in the United States have pushed global financial markets lower over the past year, including Taiwan shares, although the island's financial firms had relatively limited exposure."The total impact on the financial industry was limited," Gordon Chen, chairman of the commission, told a news conference."The FSC will supervise financial companies to improve their risk control," he said.Chen's comments came after Taiwan's stock market closed on Wednesday. The island's financial sub-index closed down 0.72 percent, underperforming the broad market , which ended 0.05 percent l...
What broad lessons can India draw from the subprime crisis?
2008-06-09 06:30:00 o In a very well written piece, the Chairman of the CFSR (Committee on Financial Sector Reforms) of the Planning Commission, Dr. Raghuram Rajan writes about the lessons that our country can learn from the subprime debacle and also offers solutions. o Perhaps the most important lesson is that a narrow focus on rules can lead regulators to miss the bigger picture, and can encourage regulatory arbitrage, to the detriment of the system. Regulators were overly fixated on seeing that rules on capital norms were being met, without seeing the larger picture ? that many banks were going to the riskiest structures consistent with the rules. To achieve this, a statutory body, the Financial Sector Oversight Agency (FSOA) composed of key regulators, which will replace the current informal High-Level Coordination Committee (HLCC) is recommended to be set up. The FSOA will conduct a principles-based supervisory dialogue with top management of key financial conglomerates, look out for ...
By: Discover It
What broad lessons can India draw from the subprime crisis?
2008-06-09 06:30:00 o In a very well written piece, the Chairman of the CFSR (Committee on Financial Sector Reforms) of the Planning Commission, Dr. Raghuram Rajan writes about the lessons that our country can learn from the subprime debacle and also offers solutions. o Perhaps the most important lesson is that a narrow focus on rules can lead regulators to miss the bigger picture, and can encourage regulatory arbitrage, to the detriment of the system. Regulators were overly fixated on seeing that rules on capital norms were being met, without seeing the larger picture ? that many banks were going to the riskiest structures consistent with the rules. To achieve this, a statutory body, the Financial Sector Oversight Agency (FSOA) composed of key regulators, which will replace the current informal High-Level Coordination Committee (HLCC) is recommended to be set up. The FSOA will conduct a principles-based supervisory dialogue with top management of key financial conglomerates, look out for ...
By: Discover It
AIG faces SEC probe on subprime mortgage contracts: report
(Reuters)
2008-06-08 22:06:00 Fri Jun 6, 2:44 AM ET (Reuters) - The U.S. Securities and Exchange Commission is investigating whether American International Group Inc (AIG.N) overstated the value of contracts linked to subprime mortgages, the Wall Street Journal said on Friday, citing people familiar with the matter. The way AIG valued credit default swaps, including those backed by subprime mortgages, is at issue, the newspaper said. Prosecutors from the U.S. Department of Justice and the U.S. attorney's office in Brooklyn, New York have asked for information the SEC is gathering, which could signal a criminal investigation, the newspaper said. AIG, the SEC, the Justice Department and the U.S attorney did not immediately return calls seeking comment. According to the newspaper, an AIG spokesman said the company would co-operate in regulatory and governmental reviews on all matters. Credit protection costs have risen for AIG, the world's largest ...
Op-Ed Friday: Banks Experiencing Subprime Losses
2008-06-06 14:48:00 It’s Friday, and with mounting foreclosures and rumblings at Lehman Brothers, I couldn’t help but think that Doomers would enjoy this video: We welcome your comments on subprime losses, or anything else housing related.
By: HousingDoom
Subprime Loss Causes Writedown of 380 Billion Dollars of Assets
2008-06-05 20:12:00 The writedown of assets by financial companies is truly staggering. A report out of Bloomberg Financials says that the write down of assets by Wall Street over the past year is 380 billion. To put the number into terms we could deal with, that is saying that 1,900,000 homes with a value of $200,000 dollars ...
Wall Street Strategists Warn Of ?Credit Recession? Lasting More Than Two Ye
2008-06-04 23:01:00 Earlier today, some Wall Street strategists sounded the alarm over a ?credit recession? which may last more than two years and result in a massive consolidation of the U.S. financial sector. Reuters? Jennifer Ablan, Dena Aubin, and Walden Siew reported: The fallout from deteriorating subprime mortgages and the broader housing and credit crisis will eventually ...
By: Boom2Bust.com
Subprime Auto Finance
2008-06-04 00:00:00 Subprime auto finance lenders are usually willing and eager to help those people that have poor credit and get them the loan that would be right for them. While rates of interest on a poor credit car loan tend to be higher than your traditional car loans, a sub prime lender will not charge you an excessively high rate in order to increase their own profits.
The Later The Subprime And Alt-A Loan, The Greater The Default Rate
2008-05-29 15:50:00 If you are looking for an indicator on who is defaulting on subprime and Alt-A loans, just see when they were written. A 2007 subprime loan has 26 percent chance of being in default. These are some disturbing numbers. Is it because there is no equity in these homes or were the borrowers at the bottom ...
Energy Price Ripples and Calculating (accurately, please) Subprime Losses
2008-05-29 04:07:00 Feeling pinched at the pump? Us, too. And we aren’t the only ones. It’s not just the little guys feeling the squeeze as energy costs soar. Big guys are feeling it, too. Like the folks at Dow Chemical, who say they’re having to raise prices by 20% to cope with ...
By: Audit Trail
Subprime Mortgage meltdown
2008-05-26 08:42:00 There is a simple explanation for this meltdown. Greed. Deregulation and more greed. I don’t think that we have seen the worst of these Subprime mortgage losses. SHARETHIS.addEntry({ title: "Subprime Mortgage meltdown", url: "http://www.whereistheoutrage.n-et/wordpress/2008/05/26/subprim-e-mortgage-meltdown/" });
World?s Leading Banks React To Write-Down Pain
2008-05-23 06:28:00 Rules. We?re all taught to follow them at a young age. You know how to spot someone who has real authority and influence? No, it?s not those chumps who break the rules. Rather, it?s those who change the rules of the game to fit their needs. And that?s what we ...
By: Boom2Bust.com
Surprise, Surprise Alt-A and Subprime Delinquencies are?¦UP
2008-05-22 16:42:00 Reuters has the 411 on mortgage repayment and the results shouldn’t surprise anyone. Alt-A (your good credit no income) loans and subprime (bad credit, not-so-much income) loan repayments are slowing and delinquencies are rising. No surprise either that the 2007 vintage of subprime mortgages is the worst on record as those that got in last are ...
Dear Subprime and Option ARM Borrower: You Disgust Me with Your Loan Modifi
2008-05-21 21:50:00 Some of this stuff you simply cannot makeup. At this point, I think the majority of folks have come to realize that any legislation trying to help homeowners and lenders is guided by politics rather than good economics. There is a fascinating incident that occurred where our favorite CEO appears to have ...Related Posts:?Real Homes of Genius: $1 Million Discount for a 948 Square Foot Long Beach Condo!?Digging into Countrywide: When Half Your Loans are in California and Florida.?The Housing Wave of the Future: Two Main Mortgage Tsunamis.?Foreclosures jump statewide by 40% in California in just one quarter! Welcome to California?s Gold!?When will my home cost me an ARM and a leg?
UBS sells subprime assets to BlackRock-run fund for $15 billion
2008-05-21 19:38:00 Swiss bank UBS AG said Wednesday it has sold subprime and other mortgage-based securities with a nominal value of US$22 million for US$15 billion (euro9.5 billion) to a newly created investment fund run by U.S. asset manager BlackRock Inc.6 Vote(s)
By: Market Buzz
Chase Wholesale No Longer Offering Subprime and Home Equity
2008-05-15 22:34:00 As we continue to analyze and manage our product set, Chase has made the decision to discontinue offering our Subprime and Home Equity products through our Wholesale channel. New Wholesale Subprime and Home Equity registrations will not be accepted after Friday, May 16, 2008. No Tags
The Subprime Mortgage Market 2007 Report: The Federal Reserves Reports
2008-05-14 00:00:00 Learn about the factors that led to the subprime mortgage crisis, the impact of these developments on the nation and the Twelfth District, and "lessons learned" that may contribute to financial market stability going forward
Subprime Mortgage Credit Derivatives - Fabozzi New Release
2008-05-13 19:42:00 Subprime Mortgage Credit Derivatives by Frank J. Fabozzi Subprime mortgage bonds and ABS CDOs have become the biggest credit and risk management failure in history. Their story is one of how a small, inconsequential part of the mortgage market grew into a monster large enough to shake the very foundations of the U.S. financial system. It is a story with some elements that are old and some that are new, and it is a story that is far from over. In the meantime, analysts and investors are left wondering about how the $700 billion of outstanding subprime securities should be valued. Written by an expert team of practitioners from UBS?the world's largest wealth manager and a top tier investment banking and securities firm?and Frank Fabozzi of Yale University, Subprime Mortgage Credit Derivatives offers readers the best strategies and risk management tools for dealing with today's growing and currently volatile subprime mortgage credit derivatives market. The authors examine the fa...
By: Executive Fraud
The Subprime Crisis Became Global
2008-05-13 06:23:00 I'm sure it's an economic fact and known by people with much smarter brains than mine, but the concept of a Global Pool of Money is staggering. The Global Pool of Money is a major player in how the sub-prime...
It is NOT just a subprime problem anymore
2008-05-09 15:39:00 I found this on USAToday: The first concrete evidence that delinquencies on mortgage bills have spread well beyond those with subpar credit shows that even prime borrowers have increasingly fallen behind on their house payments. About 2.3% of prime loans were 60 days’ past due in February, the highest level in at least a decade, according to ...
By: National Bubble
It is NOT just a subprime problem anymore
2008-05-09 15:39:00 I found this on USAToday: The first concrete evidence that delinquencies on mortgage bills have spread well beyond those with subpar credit shows that even prime borrowers have increasingly fallen behind on their house payments. About 2.3% of prime loans were 60 days’ past due in February, the highest level in at least a decade, according to ...Related postsThey are not building houses anymoreRemember when Realtors used to say “you gotta buy aIt is NOT just a subprime problem anymoreI found this on USAToday: The first concrete evidence that delinquenciesThe problem is more than just subprimeThis CNBC article makes some good points explaining how the creditCopyright © 2007The OC Coastal Group Garry Loss http://www.theoccoastalgroup.co-m 888-OCC-Views digitalfingerprint: 002e6206e996033319e8fce2ce21085-0 (216.12.217.98) )
No Escaping the Subprime Disaster
2008-05-07 18:37:00 When the subprime mess started, it was only owners with bad credit scores who were losing their homes to foreclosure. But as the crisis endured, even owners who have good credit scores are now having trouble paying their mortgage dues.
Subprime Task Force - NY Prosecutors
2008-05-06 22:39:00 http://www.reuters.com/article/-bankingFinancial/idUSN053879812-0080505 We've already seen a handful of NY State Supreme Court subprime related cases, it appears they are only the start of it.
By: Executive Fraud
Warren Buffett on Subprime Mortgage Crisis
2008-05-06 22:36:00 http://network.nationalpost.com-/np/blogs/tradingdesk/archive/2-008/05/06/dumb-subprime-lenders--and-investors-should-not-get-h-elp-warren-buffett.aspx ?Capitalism without failure is like Christianity without hell,? Mr. Buffett said. He added that ?lenders and investors who were dumb enough to deal in subprime mortgages should not receive any special help,? but if homeowners were deceived about the terms of an adjustable mortgage, they should be helped. I completely agree, but I'm still curious what happened with his plan to start a financial guarantor company. Originally when AMBAC and MBIA were taking heat for their subprime exposure and writedowns there was talk of Buffett bailing one out or starting his own under the Berkshire Hathaway name. Guess we will have to wait and see.
By: Executive Fraud
Headlines: Subprime Crisis; Reality: Consumption Crisis
2008-05-01 23:22:00 Minyanville had a great post the other day, actually the quote was from an earlier post they quoted themselves, about an interesting perspective about the cause of the so-called subprime crisis. Of course, the same can be said of the entire credit crunch and financial meltdown. ?I believe that in time, historians will define the ...
FDIC on Subprime Mortgage Crisis
2008-05-01 13:22:00 http://www.bloomberg.com/apps/n-ews?pid=20601087&sid=ano45SuVp_-3w&refer=home Some view the moves by the Bush Administration to increase the limits of guarantees by the Federal Housing Administration as not enough. Sheila Blair from the Federal Deposit Insurance Corp. (FDIC) suggests that: Congress should initiate a publicly funded loan program under which the Treasury Department would make loans to borrowers with unaffordable mortgages to pay down as much as 20 percent of their principal. Although I feel for those who legitimately were fooled by their mortgage terms, I do not believe that a bailout should be available to all subprime borrowers with high loan values and falling home prices. I would be interested in the stipulations included in the proposed subprime bailout.
The Greatest Robbery In American History Compared To The Subprime Mortgage
2008-05-01 10:01:00 Saw an interesting video today that compared the early 20th century American stock market to todays subprime crisis. There really are some stunning similarities, but the piece that caught my eye was the last 20 seconds when he describes the investor pull out right before the 1929 stock market crash as “The Greatest Robbery ...
The SubPrime Sopranos?
2008-04-30 23:57:00 We have recently noticed how the actions of top executives at some of the largest financial institutions are not too different from those of The Sopranos. (read more)
By: Silver Prices
The SubPrime Sopranos?
2008-04-30 09:35:00 We have recently noticed how the actions of top executives at some of the largest financial institutions are not too different from those of The Sopranos. Allow us to explain
By: Gold Prices
It?s Not A Subprime Crisis- It?s A Consumption Crisis
2008-04-30 01:17:00 From Minyanville today- a great quote ofnthe current "crisis": [Thanks L!] Unlike many, I have never thought that the U.S.’ current crisis was a “subprime” crisis, or even a more-broad mortgage crisis. No, to me, this has been and will continue to be an evolving consumer consumption crisis which started with the largest and most leveraged ...
By: HousingDoom
INTERVIEW-UPDATE 1-Dubai World says subprime slowed investment - Reuters
2008-04-29 10:12:00 INTERVIEW-UPDATE 1-Dubai World says subprime slowed investmentReuters - 1 hour agoBy Daryl Loo SINGAPORE (Reuters) - Dubai World, the investment firm of the Dubai government, said on Tuesday it is holding on to US real estate assets amid ...
New Forecast: $1 Trillion In Losses From Credit Turmoil
2008-04-28 23:00:00 According to Bloomberg today, former World Bank President James Wolfensohn is predicting that losses from the global credit turmoil may climb to $1 trillion. Wolfesohn, who was the head of the Word Bank from 1995 to 2005, said after addressing the European Pensions and Savings Summit: ?It does seem to be a major adjustment on ...
By: Boom2Bust.com
Subprime Mortgages
2008-04-28 17:00:00 It sounds terrible. Subprime Mortgage. But in reality it has many different benefits that other loans do not.
Roubini Tells CNBC ?Worst Is Ahead Of Us?
2008-04-25 16:15:00 Earlier this morning, CNBC?s Carl Quintanilla and Becky Quick talked to Nouriel Roubini, a former Treasury Department director under the Clinton administration and head of Roubini Global Economics in New York. His economic outlook: bleak. According to Roubini, while a number of economists are calling for a mild, short recession in the United States, if ...
By: Boom2Bust.com
> State Bank of India Takes A Rs 700-Crore Hit, Subprime Crisis Adds To
2008-04-24 06:40:00 State Bank of India Takes A Rs 700-Crore Hit, Subprime Crisis Adds To Woes TIMES NEWS NETWORK New Delhi: The depreciation of the dollar against most currencies has caught not only corporate houses on the wrong foot, but also banks. Latest to join the queue is the State Bank of India. The country’s largest ...
Shareholder Activism - Subprime Mortgage Board Members on Warning
2008-04-23 18:38:00 http://www.foxbusiness.com/mark-ets/industries/real-estate/arti-cle/subprime-market-melts-share-holders-heated_574414_17.html Angry institutional investors of firms such as Morgan Stanley and Washington Mutual have become involved in changing the face of the board of directors. Shareholder activists such as Change to Win have campaigned against directors they believe would should no longer be in control. This type of active investing has been correlated with increased returns for shareholders. Research on programs such as CALPERs have determined that large institutional investors can see increased returns by spending only a small proportion of their fund's money in order to actively protect their investments.
Navigant Consulting Q1 Subprime Update - 448 Subprime Cases Filed
2008-04-23 18:32:00 http://www.navigantconsulting.c-om Navigant Consulting released today that in the first quarter of 2008 there were 170 cases filed. Of the 170 cases filed, borrower class actions and securities cases dominated the subprime filings with 79 and 44 cases respectively. Based on the explosion of federal subprime filings, Navigant expects that the total case filing "will soon surpass the 559 savings-and-loan cases of the early 1990s." For more information check out Navigant Consultings website. |
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