Janet Tavakoli's Timeline of Fraud, Deception & Crime

[don]

Why Housing Finance Was Always "Fraud As A Business Model"

http://www.businessinsider.com/janet-tavakoli-fraud-as-a-business-model-2010-12#-1

[oddlots]

Re: Janet Tavakoli's Timeline of Fraud, Deception & Crime

Outstanding.

[flintlock]

Re: Janet Tavakoli's Timeline of Fraud, Deception & Crime

Yes, nice presentation.

[don]

Re: Janet Tavakoli's Timeline of Fraud, Deception & Crime

Video of her analysis of Freddie and Fanny: http://www.c-spanvideo.org/program/FannieMaean

[Slimprofits]

Re: Janet Tavakoli's Timeline of Fraud, Deception & Crime

Slide 10 or page 10 from the pdf file:

Merrill’s 2007 “Ownit” Deal

page 12

Merrill’s 2007 CDOs – TSF Analysis



Merrill Lynch was Fraud Central:

Bond Insurers: MBIA's Triple-A Safe Despite CDO Exposure, Merrill Says, By Jacob Fine - April 2, 2003 - The Bond Buyer

MBIA Insurance Corp.'s triple-A credit quality is not in danger due to its exposure to collateralized debt obligations and credit default swaps, according to a Merrill Lynch & Co. report released last month.

"Given the monitoring systems, the strength of the balance sheet, the ample liquidity, and a track record of clever solutions to problems, we think the MBIA guarantee will remain strong," wrote John Hallacy, Merrill's managing director of municipal research and author of the report.

The Merrill Lynch report followed a negative report from Fidelity Capital Markets Group, a broker-dealer subsidiary of mutual fund giant FMR Corp. that focused on the insurer's exposure to collateralized debt obligations and credit default swaps. Fidelity had sent its report to its client base of financial advisers and money managers, advising them to reduce MBIA-insured municipal bonds in favor of other insurers.

Another highly critical report of MBIA was published by the New York-based Gotham Partners Management Co. hedge fund firm in December, but has since drawn the scrutiny of Wall Street regulators. Gotham was simultaneously betting the price of MBIA stock would fall by selling borrowed shares.

"However, facing no immediate threat, the company continues to possess ample liquidity for reasonable scenarios that may be speculated about at this time," the Merrill report said.

[don]

Re: Janet Tavakoli's Timeline of Fraud, Deception & Crime

Watching her on video, yes, I would like to have dinner with Janet!