Blogentary

Structured Finance In Wonderland

The Cheshire Cat by John Tenniel, 1866 Having worked in structured finance in the caverns of Wall Street, it is known that the structured finance market of CDOs and related securities can be explained and understood in a straightforward manner. …

Election Day Tuesday And Bailout Wednesday

Mural by Elihu Vedder; 1896 And, Bailout Wednesday is read “Quantitative Easing II,” also known as printing money.  Basically the FED creates money out of nothing and then buys assets from institutions.  Some, if not most, of these purchases may…

Berkshire Hathaway’s Mark-To-Myth Accounting Practices

Warren Buffett, Penn, 1948 Say it ain’t so, but has the much-admired Berkshire Hathaway engaged in financial shenanigans? If so, many will be crestfallen. Apparently, instead of adhering to accepted SEC guidelines concerning marking down long term assets to their…