Media Mentions

Bloomberg.com

Banks, emboldened by three years of record profits, failed to heed warnings of their risk managers or give them enough power and data to do their jobs, says Joseph Mason, a professor of finance at Drexel University in Philadelphia who researches risk management.

CNNMoney.com

"There is great uncertainty about the impact of those [bond] defaults in a world of structured finance and credit-default swaps," said Joseph Mason, a professor of finance at Drexel University. "Where credit default swaps were issued for speculation, losses in the sector will magnify - rather than offset - losses from any given default," he said in emailed comments.

Marketwatch.com

"People need to face reality and think real hard before undertaking government-controlled re-capitalizations of weak institutions," said Joseph Mason, associate professor of finance at Drexel University and a critic of the bond insurance industry. "Are they weak for liquidity reasons or weak because of poor decisions and business models? In the latter case, a re-capitalization by the government may not make sense."

Winston-Salem Journal

Syndicated Report from the Washington Post:“Those infusions of capital have been crucial to maintaining performance to date,” said Joseph Mason, a finance professor at Drexel University in Philadelphia. “If foreign investors should significantly retreat from U.S. markets, that leaves us to our own recovery. In that case, the current credit crunch will continue to bite and we maintain a very high risk of recession.”

The New York Times

“The most damning effect is on the value of bond insurance itself,” said Joseph R. Mason, a professor of finance at Drexel University and the Wharton School, both in Philadelphia. “The big question that should be asked for issuers is: ‘Why should I buy bond insurance?’ ”

CN8 "Your Morning"

Dr. Rolph Anderson, chair professor of marketing in the LeBow College of Business, commented on CN8's "Your Morning" on January 18, 2008, on cutting employee costs.

Bloomberg

Dr. Joseph Mason, associate professor of finance, commented on Bloomberg’s “The First World on Business” on January 17, 2008, and “On the Economy” and “In Focus” on January 16 on financial and housing markets.

CNBC's "Squak Box"

Dr. Joseph Mason, associate professor of finance, commented on CNBC's "Squawk Box" on January 14, 2008, on the outlook for the equities market.

Science Now

Rajneesh Suri, a marketing professor at Drexel University in Philadelphia, Pennsylvania, calls the study an example of how consumers use pricing information as a proxy for quality.

Axcess News

And to the degree that money became artificially cheap, the resulting excesses can't last, economists say. "Eventually you're going to the pay the price," says Joseph Mason of Drexel University in Philadelphia.

Wall Street Journal

The Wall Street Journal on January 10, 2008, notes Dr. Joseph Mason, associate professor of finance, in a story about the business model for U.S. banks. Dr. Mason is also quoted in a story published on AxcessNews.com and Yahoo.com on January 10, 2008, about the world banking system.

Kansas City Star

Joseph Mason, who teaches finance at Drexel University, said Durbin's bill 'is akin to taking away real value from the lender and giving that value to the borrower.'

WBBR-AM's (NBC-ABC)

Dr. Mason commented on the subprime market on WBBR-AM's (NBC-ABC) "Morning Drive" on January 1, 2008.

The Philadelphia Inquirer

"The fact of the matter is, most everybody in the industry, certainly analysts, never thought too deeply about these instruments," said Joseph Mason, an associate professor of finance at Drexel University. "In fact," he said, "they're very different from equities, and they're very different from even traditional debt instruments. . . . It's a world that was really ill-suited for traditional equity analysts and even traditional debt analysts."

USA Today

"This is a much better Christmas gift for borrowers and the mortgage market than the silly (loan) modification plan" announced two weeks ago by the Treasury Department to freeze interest rates on some subprime ARMs, because the Fed aims to cover virtually all subprime loans and then some, said Joseph Mason, finance professor at Drexel University's LeBow College of Business.

The New York Time

“The hedge is only as good as the counterparty, or the other party, to the hedge,” said Joseph R. Mason, a finance professor at Drexel University and the Wharton School of the University of Pennsylvania. “This is part and parcel of the financial innovation that has grown very rapidly in recent years.”(The story was syndicated in the Chicago Tribune and Houston Chronicle.)

KYW-AM (1060)

Dana D'Angelo, director of general business studies, commented on KYW-AM (1060) on December 25, 2007, on LeBow College of Business students' participation in a nationwide marketing contest for Subaru vehicles.

WPVI-TV (ABC-6)

Drexel marketing professor Stanley Kligman says last week's storms threw in another monkey wrench. "Last week was a bad week. It was cold, snowy, rainy, and gas prices were high. People did not come to malls as returns would have like them to have," Professor Kligman said.

delawareonline.com

One such amateur covered-bridge photographer is Roger McCain, an economics professor at Drexel University who in 1994 created a Web site dedicated to old covered bridges in southeastern Pennsylvania, Delaware, Maryland and New Jersey.

WashingtonPost.com

The fact of the matter is, most everybody in the industry, certainly analysts, never thought too deeply about these instruments," said Joseph Mason, associate professor of finance at Drexel University in Philadelphia. "The analysts didn't think about the instruments – whether they be RMBS, CDOs or SIVs – as anything different than the typical kind of investment like an equity." He was referring to residential mortgage backed securities, collateralized debt obligations and structured investment vehicles.

Timesleader.com

They will compete with students from the University of West Florida, Drexel University, the University of North Carolina Greensboro and the graduate program at Fairfield University for cash prizes ranging from $500 to $2,500.

CNBC's "Squawk Box"

Dr. Joseph Mason, associate professor of finance, commented on municipal bond ratings on CNBC's "Squawk Box" on December 10, 2007.

CNBC's "Squawk Box"

Dr. Joseph Mason, associate professor of finance, commented on municipal bond ratings on CNBC's "Squawk Box" on December 10, 2007.

Marketwatch.com

"The five-year freeze on rates is the most troubling part of the proposal," said Joseph Mason, associate professor of finance at Drexel University. "That will create great uncertainty, hurting investors and mortgage-backed security valuations in the secondary market."

Forbes.com

"Politicians want to look like they are doing something while not doing something," says Joseph Mason, a professor at Drexel University who studies banking regulation and capital markets. "This plan fits that perfectly."

Sun-Sentinel.com

"These were highly inappropriate investments for taxpayers' money," said Joseph Mason, a finance professor at Drexel University in Philadelphia. "This is the tip of the iceberg for pension funds. We know the paper is sitting there. There are substantial subprime-related losses that haven't shown up yet."

CNN.com

A Marketwatch story about collateralized debt obligations in which Dr. Joseph Mason, associate professor of finance, is quoted was syndicated on CNN’s Web site and EasyBourse.com and FXStreet.com on December 4, 2007.

Financialexpress.com

Some are hoping that the Californian experiment, which builds on Ms Bair’s proposal, will provide a template for a nationwide scheme—if the economics work. They may well. Foreclosure is expensive, typically eating up 20-25% of the loan balance, says Joseph Mason of Drexel University.

Bloomberg.com

``These were highly inappropriate investments for taxpayers' money,'' said Joseph Mason, a finance professor at Drexel University in Philadelphia.

Marketwatch.com

If losses on MBS and CDOs climb high enough, bond insurers may have to pay claims. But unlike a muni bond, these companies have fewer ways to recoup the cost of those payouts, according to Joseph Mason, associate professor of finance at Drexel University and a critic of the industry.