I’ve been messing around intermittently with Wikiscanner this week, mostly looking at the kinds of edits done by brokers, hedge funds, and the like. (For example, there are some fun Morgan Stanley edits, and as well as some not-so-secret Cerberus Capital edits.)
Anyway, in scanning the Wikipedia edits made by troubled mortgage kingpin Countrywide Financial, I came across an interesting one on “negative amortization”. Someone at CFC edited their name out of the related Wikipedia entry, despite ample evidence (see 1 and 2) that Countrywide offers loans where negative amortization is legitimate concern.
Speaking of subprime, there is also this fun example, with someone at American Home Mortgage amping up the puffery on their own company a few months back. Maybe an attempt to forestall the eventual bankruptcy filing?
Okay, one more. I’m also fond of this one, where someone at Merrill Lynch has been replacing links to the Federal Housing Administration and to American Home Mortgage with links to some other site called “MyFHA”. You know, I’m guessing this would really piss off their manager if he/she knew.