Category Archives: Bailout

RMBS Losses in Limbo: As Bad As They Seem, The Reality May Be Much Worse

By Ann Rutledge | Published: January 25, 2012

Since the financial crisis in 2007, residential mortgage-backed securities have been hit with high levels of borrower defaults, realized losses and credit rating downgrades. Realized losses declared on private residential mortgage-backed securities (RMBS), already much higher than original rating agency and investor estimates, are projected to rise substantially in the coming months, according to a ... Read more

Also posted in Ann Rutledge, Banks, Credit Crisis, Fraud, Iuliia Palamar, Press Releases, Risk Measurement, Structured Finance/Securitization | 6 Comments

L’exception culturelle

By Ann Rutledge | Published: July 5, 2011

Sylvain Raynes comments in Bloomberg on the French plan for Greece and the meaning of default. http://bloom.bg/k91gN3

Also posted in Bankruptcy, Consequences, Credit Spectrum, Financial System, Sylvain Raynes, Synthetic Credit | Leave a comment

Rutledge and Raynes Comment on Financial Crisis Inquiry Commission Revelations

By R&R Consulting | Published: January 28, 2011

The New York Times and Huffington Post quote R&R Consulting principals Sylvain Raynes and Ann Rutledge on the report of the Financial Crisis Inquiry Commission released on January 27. Among the report’s revelations is the finding that some $2.9 billion from the taxpayer rescue of American International Group ended up covering speculative trading by Goldman ... Read more

Also posted in Ann Rutledge, Credit Crisis, Sylvain Raynes | 1 Comment

R&R’s Rutledge Sheds Light on Obscure Bailout Vehicle

By R&R Consulting | Published: December 11, 2010

The Wall Street Journal interviews R&R Consulting principal Ann Rutledge about how the Federal Reserve’s bailout of troubled firms made use of an obscure investment vehicle that had been closed out of the commercial-paper market long before the program was launched. Read the full story by Serena Ng and Liz Rappaport, “How Fed Crisis Aid ... Read more

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R&R’s Raynes on NY Fed’s ‘Unusual Position’ re Bailout Funds

By R&R Consulting | Published: October 21, 2010

Do the Federal Reserve Bank of New York’s attempts to recover taxpayer funds used in the financial crisis bailout betray its mission to ensure the stability of the financial system? R&R Consulting principal Sylvain Raynes weighs in. Read the full article by Caroline Salas and Jody Shenn, “New York Fed Faces ‘Inherent Conflict’ in Mortgage ... Read more

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Which Direction for Banking Reform?

By Ann Rutledge | Published: January 27, 2010

Naked Capitalism’s Yves Smith makes a compelling case for the need for structural reform. She is spot-on about the significance of disintermediation for the banking industry and the need to decouple risk. Her lament—”I see perilous little grappling with the problem that [Bank of England's Mervyn] King flagged, that of industry structure”—really resonates with me. ... Read more

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Raynes on Fed’s “Odd” Arrangement with AIG

By R&R Consulting | Published: January 9, 2010

R&R Consulting principal Sylvain Raynes is quoted in a McClatchy Newspapers report revealing further details of the Fed’s controversial bailout of AIG. The January 7 report says that in the weeks before Timothy Geithner’s confirmation as treasury secretary, his underlings at the Federal Reserve Bank of New York directed American International Group (AIG) to delay ... Read more

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Raynes on CIT as Bellwether for Larger Economy

By R&R Consulting | Published: July 20, 2009

“Is the financial system stable enough yet to fix itself?” In a Fortune article exploring this question, R&R’s Sylvain Raynes sees the prospect of a CIT Group bankruptcy as a new beginning. “There is still value in CIT that can be picked out if the company files for bankruptcy,” says Raynes. “In that scenario, it ... Read more

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R&R’s Raynes Calls for More Transparency on AIG Sell-off

By R&R Consulting | Published: July 15, 2009

Public interest journalism blog ProPublica interviewed R&R’s Sylvain Raynes regarding reports that AIG has sold off dozens of subsidiaries in order to repay the $85 billion it owes American taxpayers. “There’s nothing wrong with private transactions between consenting adults,” Raynes said, “But when the government is involved, everything changes.” Raynes noted that the lack of ... Read more

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Waiting for the Big Reboot

By admin | Published: June 25, 2009

A review of Contagion: The Financial Epidemic That Is Sweeping the Global Economy…And How To Protect Yourself From It, by John R. Talbott John Talbott has established a well-deserved reputation as a financial soothsayer, enjoying an incredible run of spot-on predictions. He called the imminent bust of the dot-com bubble in 1999, and in 2003 ... Read more

Also posted in Credit Crisis | 1 Comment