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Hey, Bear Stearns, We Have Something For You
Topic Started: Dec 5 2007, 06:03 AM (163 Views)
QuirtEvans
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I Owe It All To John D'Oh
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Merrill Lynch, Bear Stearns and Deutsche Bank are among the Wall Street firms that have been sent subpoenas from the office of the New York state attorney general, which wants to know about how mortgages were sliced up and resold to investors, The Wall Street Journal reported.

The letters, which the Journal described as “broadly written,” are part of a larger inquiry that is likely to focus on how well these risky mortgages were vetted before they were repackaged into securities, the article said.


http://dealbook.blogs.nytimes.com/2007/12/...s/index.html?hp
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Jack Frost
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Bull-Carp
This is just the tip of the iceberg. See the Stein and Sloan articles I posted earlier.

jf
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Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.
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Axtremus
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HOLY CARP!!!
So... uhm... why are these regulators/law-enforcement people so far behind the curve?
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QuirtEvans
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I Owe It All To John D'Oh
Axtremus
Dec 5 2007, 11:23 AM
So... uhm... why are these regulators/law-enforcement people so far behind the curve?

Because it's never a problem until it's a problem.

Seriously, perception of the risk/reward tradeoff changes once the risk materializes.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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jon-nyc
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Cheers
Also, Cuomo is trying to pull a Spitzer here. You need public attention on the issue before you try to prosecute it.
In my defense, I was left unsupervised.
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ivorythumper
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I am so adjective that I verb nouns!
QuirtEvans
Dec 5 2007, 10:43 AM

Seriously, perception of the risk/reward tradeoff changes once the risk materializes.

Or, once the reward dematerializes....
The dogma lives loudly within me.
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