Countrywide

The word is that BofA did in fact consider declaring their Countrywide subsidiary bankrupt to ring fence the rest of the company from Countrywide. It got as far as a board vote this past summer. This Wall Street Journal video discusses…

Bob Ivry, Hugh Son and Christine Harper have written an article that needs to be read by everyone interested in the financial crisis. The article (available here) is entitled: BofA Said to Split Regulators Over Moving Merrill Derivatives…

The FHFA complaints lose explanatory power and persuasiveness because they ignore compensation and accounting. It pays to understand accounting control fraud.

Alright, I have a mea culpa here. Check out this quote from June 2008

Listen to what Jeffrey Gundlach has to say about subprime bonds -- yes subprime. Hint: he thinks banks will have to take more credit writedowns.

By William K. Black I write to contrast four recent stories about Countrywide. Here are their headlines and brief synopses provided in the initial paragraphs of the stories. U.S. drops criminal probe of former Countrywide chief Angelo…

by John Lounsbury Buried 72 pages deep in the latest COP (Congressional Oversight Panel) Report is the following table: (Click on table for larger image.) The significance of this table is explained in the report: The…

William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob a Bank is to Own…

William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob a Bank is to Own…

by John Mauldin They Knew What They Were Selling It's hard to know where to start. There is just so much here. So let's begin with testimony from Mr. Richard Bowen, former senior vice-president and business chief underwriter with…