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Tavakoli Structured Finance, Inc.

The Financial Report

By Janet Tavakoli

Eric Holder Indicts Jon Corzine (Satire)

AG Holder spent part of his summer in Ferguson, while Jon Corzine played in the Hamptons. It was a good thing Ferguson reminded Holder about New Jersey, and it was timely that James Woods reminded him about equal justice under law, otherwise we might have a two-tiered system of justice where connections and campaign contributions can ensure immunity from criminal prosecution.

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Bailout Economics 2014: Predators Prosper, Prey Perish


Almost six years after the financial crisis, JPMorgan, Citigroup, and Bank of America face fines of around $12 billion each for their role in mortgage malfeasance. In the context of the damage done and the bailout money poured into banks; the fines are miniscule and won’t even cover the damage done in one or two blighted areas.

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China and Russia to Cooperate in Joint Credit Rating Agency

The global financial community is disappointed with absence of an appropriate U.S. response to the financial crisis, and today there is prudent distrust of our methods. Russia and China announced an independent move to form a joint credit rating agency. They will also engage in talks about joint management of gold and foreign currency reserves.

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China’s New Silk Road and USD Reserve Currency Status


In October of 2013, with China poised to overtake the U.S. as the largest economy in the word, Ai Boajun, vice mayor of Shanghai and member of the Standing Committee of the Communist Party of China Shanghai Committee, told the Chicago Council on Global Affairs he wants a stronger renminbi with free convertibility and cross border trading in local currency.

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Financial Leadership: Dividing Our Supporters, Uniting Our Critics

JPMorgan Opposed Volcker Rule

“I have had bosses, and bosses of my bosses, whose names we all know, who made little secret that they were [at the SEC] to punch their ticket. They mouthed serious regard for the mission of the commission, but their actions were tentative and fearful in many instances.”

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Comment Letter to the SEC Re: File No. S7-11-13

It is hard to fathom how the SEC took Congressional findings—and the SEC’s experience before and after the 2008 financial crisis—and came up with these proposed rule amendments without realizing it risks being branded as a rogue regulator that requires reining in by Congress.

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Bloomberg’s Glitch Highlights Larger Issues


A prime example of why you shouldn’t rely on one pricing source is Bloomberg’s Dow-at-zero blooper.

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Did Banks Dump Structured Financial Products in Your Pension Fund?

Janet Tavakoli and Maria Bartiromo

Almost five years after the financial crisis, Congress confirmed Richard Cordray, former Attorney General of Ohio, as the head of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) established Consumer Financial Protection Bureau (CFPB).

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Hidden Bank Risks Drive Investors to Productive Assets, U.S. Treasuries, and Gold

Banks Blind Spot

Kyle Bass, founder of Hayman Capital Management, announced during his March 2013 talk to the Chicago Booth’s Global Markets Initiative that he is bearish on Japan and has engaged in $500 billion notional tail-risk trades.

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Alan Greenspan Played Daily Show’s Jon Stewart

Citigroup Stock Prices Jan 2004 to october 25 2013

Alan Greenspan, former chairman of the Federal Reserve board (August 1987 – January 31, 2006), recently appeared on The Daily Show with Jon Stewart. Greenspan said he didn’t see the financial crisis coming; he thought bankers would be better stewards of their capital. That was meant to be an apologia of sorts for the Fed’s bungling oversight of the banking system.

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Prince Harry Responds to Goldman Sachs

Captain Harry Wales

I intend to perform my responsibilities in a way that will live up to the standards set by the men and women serving in the British armed forces: my comrades in combat, and my friends.

You claim you are doing “God’s work.” I see your work is ongoing. I have chosen a different path. I aspire only to acquit myself well in doing the work of an adult person of honor, as so many of the men and women I admire have done.

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Currency Manipulation and Derivatives


Whenever we see another case of manipulation in the currency, energy, gold, commodities, interest rate, credit derivatives, securitization, or equity markets, management of the culprit financial institution inevitably blames it on “unauthorized” trading by one or more “rogue” traders.

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