November 2015

Golden_turkey-01As is our tradition here at Crunched Credit, each year, about this time, we award our Golden Turkey Awards.  Once again, I must say that we are blessed, blessed with so many worthy candidates.  Our government, our courts, the regulatory estate both here and in Europe and around the world and the political class in general have once again vied with verve and imagination and breathtaking persistence to win a spot on our acclaimed list.  For those of you who we must disappoint, please accept our heartfelt apologies.  Yes, you screwed up and did stupid things breathtakingly well, just not as well as this year’s winners.
Continue Reading CrunchedCredit.com’s 6th Annual Golden Turkey Awards

The way the new Basel III High Volatility Commercial Real Estate Lending Rule (HVCRE) was crafted, and is being enforced, is insane. We’ve written about this before.  This is one of the purest examples of the regulatory apparatchik’s mule-headed refusal to look at data or engage with the banking establishment to develop thoughtful and effective rules. I think I saw a thoughtful and effective rule once.
Continue Reading HVCRE: Surrender Is Not An Option

The courts have been busy this year, handing down several key decisions which have affected the structured finance landscape.  Among them are Omnicare, Ace Securities and Madden.  In the grand tradition of the Golden Turkey Awards due out later this month (and without stealing any of their thunder), this post is a quick review of these important cases.
Continue Reading Three Important Structured Finance Court Decisions of 2015