On January 17, 2017, the same day China’s President, Xi Jinping, defended globalization at the World Economic Forum in Davos, its Premier, Li Keqiang, signed China’s action plan to make the world’s secondlargest economy a force, in a littlenoticed Notice issued by the State Council. Call...
First, it will cost Moody's $864 MM plus other settlement-related expenses. The civil penalties are $437.5 MM, and $426.5 MM will go to the states that joined the Department of Justice, of which (so far) $12.7 MM goes to Indiana, $6.7 MM to Delaware, $19.4 MM...
Ben Carson, in testimony for his Senate confirmation Thursday, said onerous housing rules caused inequality because "the wealthy have their pick of loans" while "those without credit are locked out." Where have we heard this before? In 2002, George Bush said, "We can put light where there's...
“The Credit Crisis of 2008 would not have happened if senior credit managers had followed the 5 Cs of Credit,” said a chorus of senior credit rating executives in a recent closeddoor event I led in New York. What Are ‘the 5Cs’ anyway? It’s an oldfashioned...
There are a lot of theories being floated on how to effect financial system stability. Most involve separating money from finance. Reverence for money or cash is evident in the Chicago School of economics and neoliberalism, where value theory is based on price. It also underlies theories that equate banks...
Elizabeth Warren says Apple’s Ireland moment should be the catalyst “for Congress to fix our own corporate tax code” so large corporates pay a larger share of taxes, incentivize job growth and level the playing field for small businesses, who presently pay the lion’s share of our federal...
Kate Crawford's June 2016 NY Times alternately funny and scary op-ed piece exposed the problem of biased stereotyping in AI. The same concerns need to be raised about how our crisis economy is being created and vetted through flaws in our financial models. They all assume that assets are...
Implied collateral default rates on 21 2014 US auto ABS are updated monthly inside ABSTRAK(R) to the present, using the time series of servicer delinquency, default and prepayment data provided by Bloomberg. Details here....
This is a very balanced article on the state of auto ABS in which Claudia Assis and Rachel Koenig Beals say "yes" to riskier but "no" to viral. The article also does a thorough job of reviewing fundamental factors influencing the demand for auto ABS. This was a...
https://www.brookings.edu/research/a-real-fix-for-credit-ratings/...