Tavakoli Structured Finance, Inc.

Archive of Commentaries Authored by Janet Tavakoli

This page is comprised of public commentaries written by Janet Tavakoli from 2003-present. Some commentaries have been incorporated into, or appended to, updates. Finance articles that have been particularly popular are listed on a separate page by topic; see finance articles to browse by topic.

See also the press section for articles in which Janet Tavakoli has been interviewed and quoted, or view video interviews.

2014

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Bailout Economics 2014: Predators Prosper, Prey Perishes
The Financial Report – June 15, 2014

China and Russia to Form Joint Credit Rating Agency
The Financial Report – June 10, 2014

Electronic currency isn’t free from crime
The Financial Times – May 30, 2014

China’s New Silk Road and USD Reserve Currency Status
The Financial Report – May 5, 2014

Financial Leadership: Dividing Our Supporters, Uniting Our Critics
The Financial Report – April 12, 2014

Apply Peterffy solution to HFT spoofers
The Financial Times – April 12, 2014

Comment Letter to the SEC Re: File no. S7-11-13
Tavakoli Structured Finance – February 24, 2014

Bloomberg’s Glitch Highlights Larger Issues
The Financial Report – February 4, 2014

Did Banks Dump Structured Financial Products in Your Pension Fund?
The Financial Report – January 22, 2014

2013

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Hidden Bank Risks Drive Investors to Productive Assets, U.S. Treasuries, and Gold
The Financial Report – December 16, 2013

Alan Greenspan Played Daily Show’s Jon Stewart
The Financial Report – October 28, 2013

Prince Harry Responds to Goldman Sachs
The Financial Report – October 20, 2013

Currency Manipulation and Derivatives
The Financial Report – October 15, 2013

President Obama Might Ask Who Benefits from U.S. Debt Default
The Financial Report – October 9, 2013

Structured Finance: Sovereign Debt, Banks, and Gold (Part 3 of 4)
The Financial Report – October 8, 2013

Pope Francis, Glenn Greenwald, and Tavakoli Respond to Media
The Financial Report – October 5, 2013

Congressman Cummings, “AIG Can Crush You Like a Bug”
Huffington Post – September 25, 2013

A Risk Manager’s Impossibility?
Risk News and Resources – September 24, 2013

Should We Help End Cuba’s “Special Period?”
The Financial Report – September 12, 2013

Why POTUS Allowed Bailouts Without Indictments
The Financial Report – September 10, 2013

Who Says Gold is Money? (Part Two of Four)
The Financial Report – August 30, 2013

Financial Reform: The Silent Guns of August
The Financial Report – August 23, 2013

Structured Finance: Price Manipulation Includes Silver and Gold (Part One of Four)
The Financial Report – August 17, 2013

Unindicted Bankers, Eurozone Squeeze
The Financial Report – August 11, 2013

Bernanke’s Deposition: AIG, Goldman, Merrill and Bailouts
The Financial Report – August 7, 2013

Investors in Stevie Cohen’s SAC May Face Clawbacks
The Financial Report – July 24, 2013

Aces and Eights for Stevie Cohen?
The Financial Report – July 24, 2013

Comments on President Obama’s Speech
Huffington Post – July 24, 2013

Goldman Sachs, AIG and IKB: Fallout From Credit Derivatives and CDOs
The Financial Report – July 10, 2013

Eric Schmidt and Jared Cohen Are the Google: Julian Assange Warns Resistance is Futile
Huffington Post – June 4, 2013 (Satire)

Leveraged Buyouts
The Financial Report – July 2, 2013

The Psychology of Loss Aversion
The Financial Report – July 2, 2013

Tel Aviv versus Davos
Huffington Post – June 5, 2013

Eric Schmidt and Jared Cohen Are the Google: Julian Assange Warns Resistance is Futile
Huffington Post – June 4, 2013 (Satire)

Growth versus Viral: Google+ and Facebook
Huffington Post – May 29, 2013

Facebook Advertisers Beware
Huffington Post – January 16, 2013

2012

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Bill Ackman is Right about Herbalife: It’s Ripe for Investigation
Huffington Post – December 23, 2012

Facebook’s Fake Numbers: “One Billion Users” May Be Less Than 500 Million
TSF – December 11, 2012

Facebook: SEC Should Investigate the Pump and Dump (scroll to end of previous article)
TSF – November 30, 2012

Facebook: Soaring Fraud and Decelerating User Growth
TSF – November 26, 2012

Vatican City: True Financial Crime and Murder
Huffington Post – November 10, 2012

Facebook’s New Strong Sell Signals
Huffington Post – October 31, 2012

Facebook’s Plummeting Stock Price
TSF – October 16, 2012

BP Oil Spill Fine Upset: Likely to Soar Tens of Billions
Huffington Post – October 11, 2012

BP: Still Leaking
TSF – October 9, 2012

Déjà vu: When Money Dies
Huffington Post – October 4, 2012

Steve Cohen’s Press Release on SAC’s Alleged Insider Trading: I’m a Genius! (Satire)
Huffington Post – October 2, 2012

China and Japan (and U.S.) Island Dispute: It’s All About Oil
Huffington Post – September 25, 2012

How to Get an Angel Investor
Huffington Post – September 24, 2012

Is Nokia’s Management Insane?
Huffington Post – September 6, 2012

Prince Harry Offered Partner Position at Goldman Sachs (Satire)
TSF – August 29, 2012 – Updated 2014

Crime and Mayhem in the USA
Huffington Post – August 1, 2012

Facebook: Is Stock Research Rigged?
TSF – July 26, 2012

Wall Street’s Ongoing Great Bailout
TSF – July 24, 2012

JPMorgan Raises Fraud Questions: Rising Trading Losses Top $5.8 Billion
Huffington Post – July 16, 2012

Third World America 2012: A Country At War With Itself
Huffington Post – July 6, 2012

Financial Journalism: “Sometimes Being Responsible Means Pissing People Off
TSF – July 3, 2012

Jamie Dimon: JPMorgan’s Chief is the World’s Funniest Financier
Huffington Post – May 15, 2012 (Updated May 19, 2012)

Jamie Dimon’s SNAFU: JPMorgan’s Other Derivatives’ Losses
Huffington Post – May 12, 2012

Warren Buffett Calls for 90% Billionaire Wealth Tax (Satire)
TSF – May 7, 2012

MF Global Implosion: Congressman Grimm Sends a Message
Huffington Post – May 3, 2012

Renewed Hope that Jon Corzine Will Face Criminal Charges
Huffington Post – May 1, 2012

MF Global: JP Morgan Produces Smoking Gun
Huffington Post – April 3, 2012

The JOBS Act Is So Criminogenic That It Guarantees Full-Time Jobs for Criminologists
by William K. Black – March 20, 2012 (JT Note: I am among the co-signers)

What Do Customers Really Think About Goldman Sachs?
Huffington Post – March 19, 2012

Greece and Credit Default Swaps: Bucking the ISDA Cartel
TSF – March 3, 2012

MF Global: Crime, Comedy and the Cover-Up
Huffington Post – February 28, 2012

Even In a Palace a Right Life Is Possible
Huffington Post – February 12, 2012

Gold and Silver Price Manipulation
TSF – January 25, 2012 – Updated 2014

Price Manipulation: Look for Motive
TSF – January 19, 2012 – Updated 2014

China 2012: The Year of the Bull (Rogers) or the Year of the Bear (Chanos)?
TSF – January 9, 2012

2011

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2011: The Year 60 Minutes Misled Americans About Municipal Bonds
Huffington Post – December 30, 2011

Congresswoman Marcy Kaptur Confronts MF Global and Wall Street
Huffington Post – December 26, 2011

Rehypothecation Is An Old Story: MF Global’s Story Is a Different Story of Filched Funds
Huffington Post – December 16, 2011

Wealthy Patriots Wage Class War
Huffington Post – December 12, 2011

Jon Corzine Dodges the Fraud Question
Huffington Post – December 9, 2011

Chanos Crash: Timing China’s Financial Meltdown
TSF – December 6, 2011

Paulson’s Actions Raise Serious Ethical Questions
Huffington Post – December 6, 2011

Is Crony Capitalism Wrong?
Huffington Post – December 3, 2011

MF Global Revelations Keep Getting Worse
TSF – November 21, 2011

Credit Derivatives and Leverage Sank Jon Corzine’s MF Global
TSF – November 4, 2011

Clear and Present Danger
TSF – October 31, 2011

“Standard” Credit Default Swaps on Greece Are a Sham and It’s Not a Surprise
TSF- October 27, 2011

Fraud As a Business Model
Huffington Post – September 6, 2011

Investing: Bad News, Good News, and What’s Next
Huffington Post – August 21, 2011

USA is “AAA” in Label Only
Huffington Post – July 29, 2011

Tavakoli Structured Finance Revokes the Credit Rating Agencies’ NRSRO Designation
TSF – July 26, 2011

Mark Zuckerberg’s Value Problem: “My” Facebook Profile Was a Fraud, So Was “Warren Buffett’s”
TSF – July 14, 2011

Why Some Housing Prices Are Still Falling and Subprime Loans Are Still Sliding
Huffington Post – June 27, 2011

The Middle Class is Drowning in Debt and Choking on Lies
Huffington Post – June 24, 2011

Third World America 2011: “Fast Tracking to Anarchy”
Huffington Post – June 8, 2011

Euro Endgame
TSF – June 1, 2011

Wall Street’s Advice to the IMF: Control Your Alleged Rapists! (Satire)
Huffington Post – May 22, 2011

Warren Buffett and the Boys of Wall Street
Huffington Post – May 9, 2011

Today’s Silver Scandal
TSF – May 5, 2011

Buffettgate: An Unenforced Policy Isn’t a Policy
Huffington Post – April 6, 2011

The Biggest Headache for Investors in Groupon and Facebook
TSF – March 3, 2011

Gold Game Changer: J.P. Morgan Accepts Gold as Money
TSF – February 7, 2011

Blame the Victims and Enrich the Perpetrators
Huffington Post – January 13, 2011

2010

Find Another Year

Tavakoli’s Top Ten Business Books of 2010 (Satire)
Huffington Post – Dec 13, 2010

Repairing the Damage of “Fraud as a Business Model
Presentation to the FHFA Supervision Summit in Washington D.C. – Dec. 8, 2010

In Third World America, You Can’t Buy a Ream of Paper on Minimum Wage
Huffington Post – Dec 18, 2010

Goldman Sachs Sued by German Bank Over Alleged Securities Fraud
TSF – October 5, 2010

Warren Buffett and Charlie Munger: Winning the Class War
Huffington Post – September 21, 2010

Goldman Sachs: Bullies on the Block
Huffington Post – September 13, 2010

Third World America: “Fast-Tracking to Anarchy”
Huffington Post – August 25, 2010

Goldman’s CEO to Treasury Secretary: OK, Now What? (Humor)
TSF (and Huffington Post)- August 23, 2010

How to Thwart the Assassins of the American Dream
Huffington Post – August 15, 2010

JPMorgan’s Losses from Indecent Overexposure
TSF – August 9, 2010

Stranguflation: Deflation and Inflation Where It Hurts America Most
TSF (also at Huffington Post) – August 3, 2010

IKB’s CEO Found Guilty, Some U.S. Bank CEO’s Should Also Face Charges
Huffington Post – July 16, 2010 – Updated 2014

2012: Voters Nix Incumbents, Demand Financial Reform and Fed Fraud Audit
Huffington Post – July 1, 2010

Wall Street’s Advice to Joran van der Sloot (Satire)
Huffington Post – June 8, 2010

“Banging” the U.S. Stock Market
TSF (at Huffington Post)- May 10, 2010

Confidence Game: Bill Ackman Shorts MBIA
TSF – May 4, 2010

President Obama: Bring Back William Black
TSF (at Huffington Post) – April 25, 2010

Rick Ungar Gives Barry Ritholtz a Lesson in the Law
The Financial Report – refrers to April 24, 2010 – posted April 24, 2014

ProPublica’s (and NYTimes’) “Untold” Magnetar Story Creates Excuses for Wall Street and Washington
TSF (at Huffington Post) – April 19, 2010

Congress’s FCIC Nearly Nailed Former Citigroup Executives to the Wall–Then Blew It
Huffington Post – April 8, 2010

Goldman Sachs: Spinning Gold
TSF – April 7, 2010

How to Corner the Gold Market
TSF – March 30, 2010

AIG Continued to Write Protection After 2005 (Lewis and TIME are Incorrect)
TSF – March 20, 2010

Michael Lewis: Wall Street’s Smart Aleck Apologist
TSF – March 15, 2010

Credit Derivatives on the United States: Games and Gold
TSF – March 12, 2010

Washington Must Ban U.S. Credit Derivatives as Traders Demand Gold (Parts 1)
TSF – March 8, 2010

CNBC Protects Bad Guys Who Took Huge Bailouts from Taxpayers
Huffington Post – March 4, 2010

Wall Street and Washington Hope You Are Gullible: Disappoint Them
TSF (also at Huffington Post) – February 14, 2010

Congress Exposes Potential Profiteering in AIG’s Deals: Delay Enabled Cover-Up
TSF (also at Huffington Post) – January 28, 2010

Show Bernanke and Geithner the Door
TSF (also at Huffington Post) – January 22, 2010

Bank of America’s Shareholders Should Reject Bonus Plans
TSF (also at Huffington Post) – January 12, 2010

Timothy Geithner, I Call Your Bluff
TSF – January 7, 2010

2009

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Washington’s Bipartisan Betrayal: The 2015 Global Financial Crisis
TSF (also at Huffington Post) – December 31, 2009

Responding to Goldman Sachs
TSF (also at Huffington Post) – December 25, 2009

Treasury Covered-Up and Bailed Out Goldman Sachs
TSF (also at Huffington Post) – December 22, 2009

Inside the Wall Street Journal’s Future of Finance Initiative
TSF – December 14, 2009

Beware of Geeks Bearing Grifts (Excerpt from Chapter 6 of Dear Mr. Buffett)
Risk Professional – by Janet Tavakoli – December 2009

Goldman, Guns, and Bloomberg
TSF – December 2, 2009

Warren Buffett, Stop Using My Credit Card!
TSF – November 23, 2009

I Retract My Apology and Call for More Regulation of Goldman Sachs
TSF – November 22, 2009 (and related commentaries)

Goldman’s Undisclosed Role in AIG’s Distress
TSF – November 10, 2009

Goldman Sachs Reasonable Doubt
TSF – November 2, 2009

Goldman’s Lies of Omission
TSF – October 28, 2009

Warren Buffett’s Wall Street War
TSF – October 20, 2009

China Defaults, Currency Basket Threatens Dollar
TSF – October 6, 2009

Wall Street’s Fraud and Solutions for Systemic Peril
Presentation to the International Monetary Fund – September 29, 2009

AIG Bubble: Irrational Exuberance
TSF – August 28, 2009

Where Were The Drama Pundits [Whitney, Taleb and Gasparino] When It Mattered?
TSF – July 29, 2009

Gasparino’s Glass Jaw is CNBC’s Draw
TSF – July 22, 2009 – Updated January 2014

The Cure For Prostate Cancer: Invest Now
TSF – July 21, 2009

What Wall Street Owes You (Commentary)
CNN (exclusive to CNN) – July 15, 2009

Anchored Under Water
TSF – June 26, 2009

Taleb’s Stranded Swan?
TSF- June 3, 2009

Taleb Kills $20 Billion Mythical Swan
TSF – June 1, 2009

President Obama’s Right to Free Speech
TSF – May 10, 2009

Ponzi Schemes and Stress Tests
TSF – May 8, 2009

Obama’s Adviser is Wrong: Malfeasance (Not Models) Killed Wall Street
TSF – February 24, 2009 – Updated 2014

Investment Funds: Should You Hear Alarm Bells?
TSF – February 9, 2009

Merrill’s Murder/Suicide
TSF – February 7, 2009

The China Syndrome: It’s Our Fault They Don’t Trust Us
Financial Times – February 5, 2009

BofA Says Merrill’s Huge Hit was in December (Not November)?
TSF – January 26, 2009 – Updated 2014

Premise of Fortune Cover Story is Incorrect
TSF – January 11, 2009

2008

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Alternative to Treasury Bailouts: One that Does Not Violate the Spirit of Democracy
TSF – September 25, 2008 and Financial Times Oct 2008. Updated 2014

Madoff Deserves Lots of Company
TSF – December 13, 2008

Dead Calm: No One Trusts You (Merrill Lynch’s Phony CDOs)
TSF- July 30, 2008

Ambac and MBIA Underwriting Standards
TSF – February 18, 2008

Cynical Use of Derivatives Has Left Market in a Pickle
Financial Times – Letter from Janet Tavakoli – January 31, 2008

Dicey Deals Done Dirt Cheap: Monolines in Dire Straits
TSF – January 3, 2008

2007

Find Another Year

CDO Cliffhanger (Clients Only)
TSF – November 27, 2007

Are You Sure You Made A Fortune Shorting the ABX (or TABX)?
LIPPER HedgeWorld – by Janet Tavakoli – December 5, 2007

Accounting Can Be Beautiful and Is Merrill’s (Earnings Charge) Number Up? (Clients Only)
TSF – November 27, 2007

Barclays, Swiss Re and More on the Credit Crunch – Update (Clients Only)
TSF – November 19, 2007

Derivatives Update (Clients Only)
TSF – November 17, 2007

AIG Catches Up (Clients Only)
TSF – November 7, 2007

Too Big to Regulate? (Clients Only)
TSF – November 5, 2007

Mal de MER – Fourth Quarter (Clients Only)
TSF – October 25, 2007

Subprime’s Unreported Undertow (Clients Only)
TSF – October 22, 2007

Merrill’s Mal de MER (Full Report for Clients Only)
TSF – October 8, 2007- by Janet Tavakoli

Misfortune’s Formula: Structured Credit Ratings
HedgeWorld (Reuters) – by Janet Tavakoli – September 19, 2007 – Updated 2011

Bear Bailout Bad Idea for Hedge Funds
HedgeWorld Commentary – by Janet Tavakoli – June 28, 2007

Greater Global Risk Now Than At Time of LTCM
Financial Times – May 7, 2007 – [Letter to Editor] by Janet Tavakoli

Subprime Mortgages: The Predators’ Fall
Risk Professional (formerly GARP Risk Review) Issue 35 March/April 2007 – by Janet Tavakoli

Do Not Accept Bolton’s Interpretation on Links with Iran
Financial Times – April 11, 2007 – [Letter to Editor] by Janet Tavakoli

Subprime Damaged US’s Standing as Global Leader in Finance
Financial Times [Letter to the Editor] – March 19, 2007 – by Janet Tavakoli

TSF Comments on SEC Proposed Rules on Rating Agencies
TSF – February 13, 2007 – by Janet Tavakoli

Crisis in Credit Derivatives is Averted – Updated February 7, 2007 – Updated 2014
LIPPER HedgeWorld.com [Reuters] May 2006 Updated Feb. 7, 2007 – by Janet Tavakoli

2006

Find Another Year

Oil Pressure: Fallout from the Iraq Study Group Report
LIPPER HedgeWorld – December 14, 2006 by Janet Tavakoli

The Golden Fleece Award for Optional Integrity
LIPPER HedgeWorld [Reuters] – October 2, 2006 [Commentary] by Janet Tavakoli

Dead Man’s Curve [Amaranth Advisors]
LIPPER HedgeWorld [Reuters] – September 22, 2006 [Commentary] by Janet Tavakoli

Oil and Power: Iran Approach Must Avoid Past Mistakes
LIPPER HedgeWorld [Reuters] – by Janet Tavakoli – June 14, 2006

Mon Ami ISDA: Crisis in Credit Derivatives
LIPPER HedgeWorld [Reuters] – May 22, 2006

The Elusive Income of Synthetic CDOs
Journal of Structured Finance Winter 2006 Volume 11, Number 4 – by Janet Tavakoli

2005

Find Another Year

Commentary: My Favorite Hedge Fund: Part II
LIPPER HedgeWorld [Reuters] – October 24, 2005 – by Janet Tavakoli

CDOs: Caveat Emptor
GARP Risk Review – September/October 2005 Issue 26 – by Janet Tavakoli

Consider the Full Notional Amount of CDOs When Assessing the Risks and Rewards
Financial Times Letter to the Editor – August 19, 2005 – by Janet Tavakoli

How Investors Can Lower Risk When Choosing a Hedge Fund
Financial Times – June 8, 2005 – by Janet Tavakoli

My Favorite Hedge Fund
LIPPER HedgeWorld – May 26, 2005 – by Janet Tavakoli

CDOs Can Confuse Bank Managers
Financial Times – April 26, 2005 by Janet Tavakoli

Tavakoli’s Speech to the IMF on Global Systemic Risks
TSF – April 26, 2005

How Will Bond Market React to Citigroup Trades?
Financial Times – February 7, 2005 by Janet Tavakoli & FT follow-up on costs February 12, 2005

Structured Finance: Rating the Rating Agencies
GARP Risk Review Issue 22 January/February 2005 – by Janet Tavakoli

2004

Find Another Year

STRUCTURED CREDIT: The Trials of Tranching
International Financing Review – IFR Magazine – October 25, 2004

Invisible Hedge Funds (Banks’ Trading Desks)
GARP Risk Review July/August 2004 Issue 19 – by Janet Tavakoli

Martha Stewart: The Irony Maiden Hates to Lose
The Yearbook – July 14, 2004 – by Janet Tavakoli

Ultimate Leverage: Collateralized Fund Obligations
HedgeWorld’s Accredited Investor June 2004 – by Janet Tavakoli

FASB in Error on Options Valuation
Financial Times – April 5, 2004 – [Letter from Janet Tavakoli]

2003

Find Another Year

Investors Are the Gullible Ones if They Rely on Ratings as Indicators of Financial Robustness
Financial Times – December 29, 2003 – by Janet Tavakoli

CDO Evolution Creates New World of Risk
Risk Professional (formerly GRR) November/December 2003 Issue 15

Buyer Beware
International Financing Review (IFR Magazine) Derivatives 2003, Issue 1507 – Oct. 25, 2003
by Janet Tavakoli

Landesbanken: even lower rating may be in order
Financial Times – December 1, 2003 Leaders & Letters – by Janet Tavakoli

Enron, J.P.Morgan and Offshore Special Purpose Vehicles
TSF – April 10, 2003
Structured Finance Definitions and Concepts

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