Tech Better

“New York’s Citigroup reported an $8.3 billion loss”…

“Bank of America said on Monday that its quarterly profit declined 77 percent”….

A loss is an accounting loss attributed to the company. But most of these banks SOLD the toxic investments that they made. What is going on here?

These losses, admit most banks, are stemming from the abrupt fall in demand for CDO derivates, especially mortgage-backed securities. I tackled some of these points in an earlier post. The question is, why are banks losing money?

By Ryan Williams, TechBetter.com - A 2007 study commissioned by AT&T and conducted by Forrester Consulting found that, "today more than 50 percent of enterprise employees find themselves in circumstances in which they need to work in a fluid and dynamic fashion.

By Ryan Williams, TechBetter.com - Google has been very busy over the past few years. Covertly, they have sent cars all over the United States imaging everything they can see from the road. It is really mind blowing.

The meltdown wiped out and bankrupted famous investors. Evidence even surfaced of involvement by some politicians. The new, clever financial innovations suffered horrible mispricing; investors who believed they were holding solid, liquid assets were left holding empty bags when the markets crashed.
I am, of course, referring to the 1720 British bubble in the South Sea Company, fueled by the new financial innovation known today as common stock.

I suppose it is only fitting that my first blog deals with banking regulation. As most of us know, the discovery of scams and scandals is counter-cyclical....one can get away with a really clever scam during a public economic spectacle. It is only when the walls come tumblin' down, and those annoying investors suddenly want their money, that the scandal comes to light.