Media Mentions

StarNewsOnline.com (Wilmington, NC)

In the United States, much of the focus is on rating agencies, which are paid by banks for rating products, and which sometimes attached investment-grade ratings to securities that turned out to be not up to that standard. Joseph Mason, a finance professor at Drexel University in Philadelphia, and Josh Rosner, the managing director of the research firm Graham Fisher, have pushed for more oversight of rating agencies.

Sydney Morning Herald

Credit-rating companies may be successfully sued by investors who lost money on subprime-mortgage securities and similar bonds, according to a study published in May by Mr Rosner and Joseph Mason, an associate finance professor at Drexel University in Philadelphia.

Business Standard

Credit-rating companies may be successfully sued by investors who have lost money on subprime-mortgage securities and other similar bonds, according to a May study by Rosner and Joseph Mason, an associate finance professor at Drexel University in Philadelphia.  

Lanka Business Online

Credit-rating companies may be successfully sued by investors who have lost money on subprime-mortgage securities and other similar bonds, a study by Rosner and Joseph Mason, an associate finance professor at Drexel University in Philadelphia had said.

Philadelphia Business Journal

The new regulations entered on the heels of the Sarbanes-Oxley Act, and experts consider them the most significant change in executive compensation disclosure since the early 1990s. "I think people have become more sensitive to all these issues since the Enron and WorldCom scandals," said Eliezer Fich, an assistant professor of finance at the LeBow College of Business at Drexel University. "On TV, you saw lavish parties thrown by these CEOs who flew their entire families and a lot of other people, and they had these great parties with ice sculptures, etc., etc. Shareholders were footing the bill."

Ohio.com

The delinquency rate for subprime loans rose to 13.8 percent in the first quarter, according to the Mortgage Bankers Association. It was 11.5 percent a year earlier. When the collateral in residential mortgage bonds is impaired, ``nothing will undo the losses,'' says Joseph R. Mason, associate professor of finance at Drexel University in Philadelphia. ``It's a static pool of investments, a brain-dead trust.''

The Economic Times

A growing chorus of critics say raters were irresponsible in giving their stamp of approval to bonds that should have been rated much lower. “This is like selling liquor to a minor without carding them, or selling a hand gun and saying they’re not being used to kill people,” said Joseph Mason, an associate professor of finance at Drexel University in Philadelphia. “They are selling these ratings, and the label says don’t use it for investment purposes. That’s clearly not the case.”

Associated Press

Joseph Mason, a finance professor at Drexel University, says it could be an uphill battle for investors to prove that financial institutions were negligent or committed fraud.

Businessweek.com

The authors– Pravin Nath, a professor of marketing at the LeBow College of Business, and Vijay Mahajan, a professor in the department of marketing at the University of Texas at Austin – admit the study is limited, reports AA, because it focuses on financial-performance metrics, such as sales growth and profitability, and not brand equity, and both were quick to offer caveats to the conclusion.

Advertising Age

A study reports that CMOs have no impact on sales. Pravin Nath, a professor of marketing at the LeBow College of Business, admits the study is limited because it focuses on financial-performance metrics, such as sales growth and profitability, and not brand equity, and both were quick to offer caveats to the conclusion.

6ABC

Stanley Kligman, instructor of marketing at Drexel University's LeBow College of Business, talks about the hype surrounding Apple, Inc.'s new iPhone.

Philadelphia Inquirer

Drexel University marketing professor Lawrence Duke noted that Apple aired commercials for the iPhone showing only 11 of the screen's icons, leaving the use for the 12th - since identified as a link to YouTube Inc. - a mystery. "They sort of manufacture the buzz," he said. "They put the information out there, but not all of it."

Philadelphia Inquirer

Drexel University marketing professor Lawrence Duke noted that Apple aired commercials for the iPhone showing only 11 of the screen's icons, leaving the use for the 12th - since identified as a link to YouTube Inc. - a mystery. "They sort of manufacture the buzz," he said. "They put the information out there, but not all of it."

Bloomberg.com

When the collateral in residential mortgage bonds is impaired, nothing will undo the losses,&#39;&#39; says <strong>Joseph R. Mason, associate professor of finance at Drexel University</strong> in Philadelphia. It's a static pool of investments, a brain-dead trust.''

RightSideAdvisors.com

The gist of Joseph Mason’s comments, Drexel University professor of finance is that the losses in the collateral of a structured finance – can’t come back. Foreclosed homes are often sold at a discount, and thus booked.

Los Angeles Times

"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."

Financial Post

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

CNBC

Joe Mason, associate professor of finance, discusses whether the subprime crisis will spillover to other segments of the U.S. economy.

Bloomberg

Joseph Mason, a finance professor at Philadelphia's Drexel University and a former economist at the U.S. Treasury Department, says the ratings are undermined by the disclaimers. I laugh about Moody&#39;s and S&amp;P disclaimers,&#39;&#39; he says. The ratings giveth and the disclaimer takes it away. Once you're through with the disclaimers, you're left with very little new information.''

Business Week

Calculations in the structured-finance arena factor in multiple borrowers, highly technical statistical models, and the arcane legal rules governing such deals. "Risk is getting mixed up, and the ratings agencies can't keep track of it," says Drexel University associate professor Joseph R. Mason.

WBBM Chicago Radio

"This is not just a subprime problem. This is a problem in markets that fund all bank loans right now," said Dr. Joseph Mason, associate professor of finance at Drexel University's LeBow College of Business.

DS News

Dr. Joe Mason speaks with Default Servicing News about economic conditions in the housing market.

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.