Less can be more

August 10, 2009

It’s good news when a bank reports a decline in the percentage of problem assets on its balance sheet.¬†

What derivatives, porn have in common

August 7, 2009

The key to the Obama administration’s plan to bring order to the murky world of derivatives ultimately rests on the definition of what is a standard run-of-the mill derivative.

It’s not all golden at Goldman

August 6, 2009

It’s hard to find much to quibble about with Goldman Sachs’ second-quarter performance–at least from a¬†dollars perspective.

Goldman’s commercial junk pile

August 5, 2009

Goldman Sachs, as I’ve pointed out before, has done a good job reducing its exposure to commerical mortgages by selling off potentially troublesome loans well ahead of the curve.

Wishing away toxic assets

June 10, 2009

It wasn’t too long ago that there were worries on Wall Street, and presumably in Washington, about the rising tide of so-called Level 3 assets on bank balance sheets. That’s all those hard-to-trade and impossible-to-value securities that many like to call “toxic assets,” but that U.S. Treasury officials euphemistically refer to as “legacy assets”.