Developing Affordable Housing Ecosystems World Wide
By:David A. Smith Time for you to reform too, padre Too soon old, too late smart – is that how it runs? Or was it a case of being smart but helpless, feeling under pressure to pay huge bonuses in cash based on non-cash estimates of earnings? Before the crisis, Wall [...]
[Continued from yesterday's Part 1.] By:David A. Smith Yesterday we saw, via a month-old article in Reuters (March 4, 2013), that FHFA director Ed DeMarco had decided to take a seemingly innocuous step, one that he cloaked in mild-mannered language – and yet, when the history is written, this will be seen as [...]
By:David A. Smith Unify the chassis, unify the companies: If that wasn’t Alfred Sloan’s motto at General Motors, it should have been, for it guided both Sloan’s GM and Lee Iacocca’s Chrysler – and it appears to be guiding the reluctant revolutionary, Ed DeMarco, who despite being alternatively ignored or excoriated by some Washington [...]
By:David A. Smith [Continued from yesterday's Part 1.] They’ll take suggestion as a cat laps milk. – William Shakespeare, The Tempest Yesterday’s post delved into the juicy details deliberately provided by the Department of Justice in its $5 billion lawsuit against Standard & Poor’s, as reported in the Wall Street Journal (February [...]
By:David A. Smith A CDO could be structured by cows and we would rate it. – Unnamed S&P employee cited in Department of Justice Lawsuit Too chicken to rate my securities? People like stories, especially parables, especially parables that reinforce our moral views of the world. Because of this, we should be [...]
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