• Choose a category
• All
• Classic-Fiction

27 “Financials Lead Sell-Off After Carlyle News,” CNBC.com, 13 March 2008.

28 Ibid.

29 Carlyle Group, “The Carlyle Group Issues Additional Statement on CCC,” Carlyle Group Press Release #2008-025, March 13, 2008.

30 James Tyson, “Freddie Mac has 1st-Quarter Net Loss of $211 Million,” Bloomberg News, 14 June 2008. This article referenced remarks made on June 11, 2008 by James Lockhart, director of the Office of Federal Housing Enterprise Oversight, in which he said Freddie Mac and Fannie Mae owned $170 billion in subprime mortgage-backed securities rated AAA.

31 Peter Lattman, Randall Smith, and Jenny Strasburg, “Carlyle Fund on Ropes As Banks Get Nervous.”

32 Ibid.

33 Ibid.

34 “SEC, CFTC Formalize Cooperation Agreement,” CNBC.com, 11 March 2008.

35 Roddy Boyd,“The Last Days of Bear Stearns,” Fortune, 28 March 2008.

36 Kate Kelly,“Fear, Rumors Touched off Fatal Run on Bear Stearns,” Wall Street Journal, 28 May 2008.

37 Roddy Boyd,“The Last Days of Bear Stearns,” Fortune, 28 March 2008.

38 Alan Schwartz and David Faber, “Bear Stearns CEO,” Squawk on the Street, CNBC, 12 March 2008.

39 Ibid.

40 Ibid.

41 Serena Ng and Randall Smith, “Another Source of Quick Cash Dries Up,” Wall Street Journal, 17 March 2008.

42 Lester Pimentel, “Fed’s Action May Have Hastened Bear Stearns’ Decline, UBS Says,” Bloomberg News], 17 March 2008.

43 Kevin O’Leary’s comments were made on Canada’s Business News Network, BNN’s “Squeeze Play,” March 14, 2008.

44 Roddy Boyd,“The Last Days of Bear Stearns,” Fortune, 28 March 2008.

45 My comments were made on Bloomberg TV and Canada’s Business News Network, BNN’s “Squeeze Play,” March 14, 2008. Bruce Foerster’s comments were made on Bloomberg TV.

46 Bruce Foerster’s comments were made during the segment referred to in endnote 45 in which we appeared together on Bloomberg TV, March 14, 2008.

47 Jim Rogers has made these comments on Bloomberg TV and CNBC several times in the past several months. Rogers made these particular comments from Singapore during a segment that aired June 5, 2008.

48 Josh P. Hamilton and Erik Holm, “Buffett Castigates Wall Street, Bankers on Blunders,” Bloomberg News, 5 May 2008.

49 Kate Kelly, “Bear Stearns Neared Collapse Twice in Frenzied Last Days,” Wall Street Journal, 29 May 2008.

50 Kate Kelly,“Lost Opportunities Haunt Final Days of Bear Stearns,” Wall Street Journal, 27 May 2008.

51 U.S. Senate Committee on Banking, Housing, and Urban Affairs, “Testimony of Jamie Dimon Before the Senate Committee on Banking, Housing, and Urban Affairs,” April 3, 2008.

52 Ibid.

53 Stephen Labaton, “Testimony Offers Details of Bear Stearns Deal,” New York Times, 4 April 2008. Jamie Dimon repeated the comment in an interview with Charlie Rose on July 8, 2008.

54 Alistair Barr, “Bear Portfolio Worth $28.9 Billion, Fed Says,” Market Watch, 3 July 2008. The revaluation mentioned in the title already represents a loss of $100 million for the Fed and it is not even based on market prices (which would have resulted in a greater stated loss); the Fed admitted it priced the securities based on its notion of an “orderly market.”

55 Ben White, “Bear Stearns Passes into Wall Street History,” Financial Times, 29 May 2008.

56 Kate Kelly,“Bear Stearns Neared Collapse Twice in Frenzied Last Days.”

57 Ibid.

58 Herbert Lash, “JPMorgan’s Bear Takeover Not Looking Good: Analyst,” Reuters.com, 9 June 2008.

59 “JPMorgan Chase: We Got Bear Stearns on the Cheap,” CNBC, 17 June 2008.

60 Landon Thomas Jr., “Buffett Said to Consider Bear Stake,” New York Times, 27 September 2007.

61 CNBC aired several segments on September 27, 2007, including: “Bear Hunting,” “Buffett Bearish?,” “Buffett Buzz Buoys Bear,” “Buffett Bear Hunting?,” and “Buffett Buying Bear?”

Chapter 10: Mark to Myth and the Black Box

1 “Risky Business,” Squawk Box, CNBC, 8 August 2007.

2 AIG, “Residential Mortgage Presentation (Financial Figures are as of June 30, 2007),” 9 August 2007. The CDO consisted of