Ratings Agencies: Still Shilling for Shillings

Posted on by Phil Querin

The April 19, 2014 Economist reports [Credit where credit’s due] that the ratings agencies are making a financial comeback after their near-death experience following the financial crisis, circa 2007-2009.  For those readers who believed that Moody’s, S&P, and to a lesser degree, Fitch, were pure as the wind-driven snow, let me correct the record: During […]

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Posted in Miscellany, Q-Rants, Ratings Agencies, Subprime Crisis | Tagged ,

Nuts and Dolts: S&P’s Defense to the DOJ Lawsuit

Posted on by Phil Querin

As some of my readers know, S&P, the largest of the ratings agencies, that in tandem with their investment banking cohorts, made millions – nay, billions – during the securitization frenzy of 2005 – 2007.  [For more details, see my rants posts, here and here.] The Big Banks needed a shill to convince investors to […]

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Posted in Financial Crisis, Lawsuits, Miscellany, Ratings Agencies, Subprime Mortgages | Tagged ,

Belial Bank’s 2012 Holiday Planning Meeting

Posted on by Phil Querin

Following a rough and tumble year in the banking industry, Belial Bank’s feckless fearless leader, B.L. Zebub, believes it is high time to bring some levity and loyalty to the lowly troops who have been tirelessly foreclosing all the Beleaguered Borrowers they may have missed the first and second time around.  Mostly, however, B.L. is […]

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Posted in B. L. Zebub, Belial Bank, Deficiency Liability, Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Federal, Lenders, Market Conditions, MERS, Real Estate/Distressed, Realtors, REOs, Servicers, Subprime Crisis, Tax Issues | Tagged , , , , , , , , , , , , , , , ,

Portland Metro Housing Prices – The Last Five Years [Part Two]

Posted on by Phil Querin

This is the second installment of my article looking back over the past five years at Portland housing statistics.  Part One examined the real reason for the housing crisis which officially commenced in 3Q 2007, and looked at the historic numbers for average and median (i.e. “mean”) sale prices according to the RMLS™. The link […]

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Posted in Deed in Lieu of Foreclosure, Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Realtors, Refinancing, REOs, Servicers, Short Sales, Subprime Crisis, Subprime Mortgages, Trust Deeds | Tagged , , , , , , , , , , , , , , , , , , , ,

Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part Three]

Posted on by Phil Querin

In Parts One and Two I addressed the favored status of the ratings agencies in affecting all manner of financial instruments and investment decisions. But now, as an outgrowth of Dodd-Frank, the agencies’ impact appears to be on the wane. The new OCC regulations are figuratively airbrushing the ratings agencies out of the financial landscape. […]

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Posted in Financial Crisis, Foreclosure, Lenders, Market Conditions, Ratings Agencies, Real Estate/Distressed, Subprime Crisis, Subprime Mortgages | Tagged , , , , , ,

Ratings Agencies Get Their Comeuppance – They’ve Been Downgraded! [Part One]

Posted on by Phil Querin

Even the most heinous of financial crimes are usually – if not always – the bi-product of willing participants.  Admittedly, there may be only one “evil genius” in the mold of Bernie Madoff, but invariably there are many willing enablers.  These are the peripheral players to whom we might contribute some degree of culpability or […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Lenders, Market Conditions, Miscellany, Ratings Agencies, Real Estate/Distressed | Tagged , , , , , , , ,

Credit Rating Agencies – The Shills in the Crowd

Posted on by Phil Querin

Shill – “…a person who helps a person or organization without disclosing that he or she has a close relationship with that person or organization. “Shill” typically refers to someone who purposely gives onlookers the impression that he or she is an enthusiastic independent customer of a seller (or marketer of ideas) that he or […]

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Posted in Financial Crisis, Foreclosure, Lenders, Market Conditions, Miscellany, Ratings Agencies, Real Estate/Distressed | Tagged , , , , ,
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