December 20, 2010
Foreclosures on People Who Never Missed a Payment
Yves Smith: Mortgage service industry makes more money from foreclosures than restructuring debt
Yves Smith has written the popular and trenchant financial blog "Naked Capitalism" since 2006. Yves has spent more than 25 years in the financial services industry and currently heads Aurora Advisors, a New York-based management consulting firm specializing in corporate finance advisory and financial services. Prior experience includes Goldman Sachs (in corporate finance), McKinsey & Co., and Sumitomo Bank (as head of mergers and acquisitions). Yves has written for publications in the United States and Australia, including The New York Times, The Christian Science Monitor, Slate, The Conference Board Review, Institutional Investor, The Daily Deal and the Australian Financial Review. Yves is a graduate of Harvard College and Harvard Business School.