Media Mentions

MSN Finance

Joseph Mason, an associate professor of finance at Drexel University, argues that in the age of increasingly complex derivatives, debt rating agencies often actively work with debt underwriters to ensure that the different pieces, called tranches, of the offering are crafted to earn the necessary credit quality ratings to appeal to investors with different appetites for risk.

National Association of Federal Credit Unions

Joe Mason, from the LeBow College of Business at Drexel University, said there is a role for prepayment penalties—that of investor security—and instead suggested more financial education. Michael Decker, of the Securities Industry and Financial Markets Association, said many problems have been corrected and that most of the subprime market is working reasonably well.

Mortgage meltdown hits Bear Stearns

Joseph Mason teaches finance at Drexel University. He says this isn't just a Wall Street problem. Your 401k or pension fund may be invested in similar mortgage-related securities.

Bloomberg.com

"The problem is not what we see happening, but what we don't see,'' said Joseph Mason, associate professor of finance at Drexel University in Philadelphia and co-author of an 84-page study this year on the CDO market. "We don't know the price of these assets. We don't know which banks are exposed to this sector. These conditions are the classic conditions for financial crises across history.''

Los Angeles Times

Anxiety intensified Friday about the toll the sub-prime mortgage meltdown is taking on the financial industry at large, as Bear Stearns Cos. pledged to lend $3.2 billion to rescue a hedge fund battered by rising defaults on home loans. The jitters sent stocks tumbling across the board. “We know that these holdings are not unique to Bear Stearns,” said Drexel University professor Joseph R. Mason, co-author of a recent study warning of dangers in securities backed by home loans to high-risk borrowers. “It would be hard to find a Wall Street firm that hasn’t created similar funds.”

The Epoch Times

Dr. Frank Xie knows something about the role the Chinese consular officials play in Chinese student associations. Now a professor at the College of Business of Drexel University in Philadelphia, Pennsylvania, Xie once served as Vice President of Chinese Student and Scholars Association of Purdue University, in West Lafayette, Indiana, and the first Chief Executive of the American Midwest Chinese Student and Scholars Solidarity Union, representing Chinese student groups from 40 universities in 11 states in the Midwest United States

Lancaster Intelligencer Journal

On June 7, Sandra Urdaneta Hartmann, along with colleagues Dr. Mary K. Howett and Dr. John W. Kreider, won Drexel University's 2007 Business Plan Competition for their ongoing work in developing a common ingredient in personal-care products — sodium dodecyl sulfate — into a new spermicide and microbicide for women to protect themselves from sexually transmitted diseases, including HIV and HPV.

CN8's Money Matters Today

Live from the Pearlstein Business Learning Center, CN8's Money Matters Today  featured Drexel University LeBow College of Business's Basic Training for Business. Guest speakers Lissette Rodriguez, licensed cosmetologist at Trish McEvoy at Saks Fifth Avenue, and Thomas Gibboney, education trainer at Kiehl's Since 1851, explained the do's and dont's of "Putting Your Best Face Forward" for men and women. Rodriguez demonstrated on volunteers how women can best apply make-up when changing from a office atmosphere to an evening business/social event. She also offered quick hair styling tips. Gibboney demonstrated to men the proper way to shave and suggest products men can use to maintain healthy skin.

CN8's Money Matters Today

Mary Caraccioli, multi Emmy Award-winning TV journalist and host and executive producer of "Money Matters Today," will discuss "Hits and Misses: How Business Reacts to Media Firestorms" at the Third Annual Drexel Women in Business Networking Tea. At the helm of "Money Matters Today," Caraccioli offers viewers straightforward answers to their money questions. As CN8's director of business and consumer news, she directs CN8's coverage of news from the financial world offering exclusive economic and industry breaking special reports. She is currently a candidate for a Master's in Business Administration degree at Drexel University's LeBow College of Business, while finishing her thesis for a Master's degree in International Relations at the University of Pennsylvania.

CN8's Money Matters Today

CN8’s Money Matters Today featured Wayne Gattinella ‘76, CEO of WebMD. Gattinella discussed how WebMD has established its presence as the leading provider of health information services and its future plans for sustained growth with new innovations. Gattinella was appointed CEO of WebMD in April 2005, after joining the company in 2001 as president of WebMD Health. He has helped establish WebMD as the most recognized and trusted brand of health information for consumers and physicians. Under his direction, WebMD has also become the leader in providing private health and benefits portals for Fortune 500 companies and the country’s largest health plans. He recently spoke to the Drexel University community on March 8 as part of the Industry Perspectives series.

The Washington Times

Wall Street would buy just about any loan for the yield, regardless of risk. Drexel University finance professor Joseph Mason said: "The mortgage market for the past few years has been playing a massive game of hot potato."

The Market Traders

That is also the view of Joshua Rosner, a managing director at Graham & Fisher & Co., and Joseph Mason, associate professor of finance at Drexel University's LeBow College of Business. The two published a paper last week, "How Resilient Are Mortgage- Backed Securities to Collateralized Debt Obligation Market Disruptions?" analyzing CDOs.

seekingalpha.co

That is also the view of Joshua Rosner, a managing director at Graham & Fisher & Co., and Joseph Mason, associate professor of finance at Drexel University's LeBow College of Business. The two published a paper last week, "How Resilient Are Mortgage- Backed Securities to Collateralized Debt Obligation Market Disruptions?" analyzing CDOs.

Salon.com

No hyperlink is provided for the equally excellent paper by Joseph R. Mason and Joshua Rosner that marshals the most complete set of reasons I've yet seen for why we should be increasingly worried: "How Resilient Are Mortgage Backed Securities to Collateralized Debt Obligation Market Disruptions?"

Mortgage Servicing News

Dresdner Kleinwort is unhappy about the prospect of CDOs based on US home equity loans being repriced. Joseph Mason and Joshua Rosner are even more unhappy, and at far greater length.

CNBC

A look at why some leaders need to remain in the spotlight even after they retire, with Jeffrey Sonnenfeld, Yale School of Management sr. associate dean; Joseph Mason, Drexel University professor of finance and CNBC's Liz Claman

CNBC

The Hudson Institute

As risky mortgages and collateralized debt obligations (CDOs) are making headlines, new research by Joseph Mason and Joshua Rosner raises additional concerns that mortgage-linked CDOs could experience significant losses if the U.S. housing market continues to stagnate.

Bloomberg

Dr. Joseph Mason, associate professor of finance, is quoted in a Bloomberg story published on June 5, 2007, about the subprime mortgage-backed market. Dr. Mason co-wrote a paper about the market. Dr. Mason also commented on the subprime mortgage-backed market on KYW-AM (1060) on June 3 and WBBR-AM (NBC-ABC-New York) on May 31.

The Journal Gazette

Washington Post story in which Dr. Jonathan Ziegert, assistant professor of management, was noted was syndicated in the Fort Wayne Journal Gazette on June 4, 2007. The story focuses on how recent college graduates are seeking the help of career counselors to help them secure jobs that offer earning potential and personal satisfaction.

Bloomberg News

Dr. Mason was noted in a Bloomberg story published on May 31 for his paper written with Joshua Rosner, a managing director of Graham Fisher & Co., an investment research firm in New York. They argued that First Amendment protections for ratings of asset-backed securities may not hold up.  

The International Herald Tribune

The International Herald Tribune (France) quoted Dr. Joseph Mason, associate professor of finance, in a story published on June 1, 2007, about the subprime mortgage-backed market. Dr. Mason co-wrote a paper about the market.

The Philadelphia Inquirer

It was Rosenbloom who first told me that retailers call my theory of suburban sameness "cannibalization." Personally, he prefers "overstoring," not that developers or chains have any intention of stopping.

The Washington Post

At the LeBow College of Business at Drexel University in Philadelphia, organizational psychologist Jonathan Ziegert says he sees more and more students complete a battery of psychological tests before launching a job search. The campus trend mirrors a change in the broader job market, he says, where he sees the job hunt turning increasingly into an exercise in self-searching. 

Washington Post

At the LeBow College of Business at Drexel University in Philadelphia, organizational psychologist Jonathan Ziegert says he sees more and more students complete a battery of psychological tests before launching a job search. The campus trend mirrors a change in the broader job market, he says, where he sees the job hunt turning increasingly into an exercise in self-searching

Philadelphia Business Journal

George P. Tsetsekos says first impressions make a difference. And he's got the wife to prove it.

FT.com

6ABC Action News

Prof. Shawkat Hammoudeh of Drexel University said, "Gasoline inventories in the united states are the lowest in two decades of this time of the year. So any slack in the system could cause gasoline prices to go much higher."

The Wall Street Journal

According to the paper's co-authors, Joshua Rosner, a managing director at Graham Fisher and Co., and Joseph Mason, an associate professor of finance at Drexel University, the rating firms are likely to underestimate risk. For one, they have a disincentive to fine-tune their bond ratings because the issuers of bonds provide most of a rating agency's revenue, he said. A lower rating means higher financing costs for the issuer.

Nasdaq

"We know now that we really don't fully understand default risk in subprime bonds," Mason said after the panel.