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Doin' It Bloggystyle: Cuomo, Dollars, and E*Trade...


Minyanville brings together the best of what they are saying "out there" about the topics we're talking about right here.

Blogs themselves need no introduction, as they get as much publicity as pretty much anything these days, save maybe the latest Britney news. There's an expanding world of excellent financial blogs, covering just about everything, from global economics to swing trading. Minyanville's goal is to bring together the best of what they are saying "out there" about the topics we're talking about right here.

Some links as we ponder a world run by Poker Bot overlords.

Nothing to See Here, Move Along
  • OK, this is all Greek to me, but Calculated Risk has a breakdown of this Cuomo investigation into EAppraiseIt, and tangentially WaMu (WM), and what it all means.
  • Corrupt appraisals? Not really the point, says Tanta.
  • "'s about stopping the game of risk-layoff. The weakest (financially and politically) party in the chain, eAppraiseIT, appears to have taken on all the residual risks from WaMu and Fannie Mae (FNM), and now Cuomo is going to force those losses to materialize. "
  • It's a must read piece if you haven't seen it already (it's from last Wednesday), but my (really uneducated) nickel version is that you have a real interesting debate here.
  • The other side is a Very Ubiquitous Pundit calling Cuomo a communist for starting this investigation in the middle of a crisis.
  • I'll go with what The Mess That Greenspan Made says. "Hopefully, the passage of time, along with some major (and probably painful) adjustments to what Ron Paul calls our "subprime economic system", will result in clearer heads prevailing someday - both on television and in Congress."

Bigger Picture

Disaster Du Jour? E*Trade

SIV and Let SIV

  • Ponzi scheme, says HousingPANIC.
  • Flawed, sure, but we're going to have to go with it, says Information Arbitrage.
  • "Now is a time for action. The reality is that the interconnect nature of our Wall Street and Main Street communities makes the fortunes of banks vitally important to the fortunes of all our citizenry. And while Mr. Market will ultimately determine the value of these and all other financial assets out there, a structure that helps ease the tightness of today's credit markets can only inure to the benefit of us all."
  • Unless it's already failed, as Mish notes.
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No positions in stocks mentioned.
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