iOS app Android app

Cramdown

Dan Froomkin

Auction 2012: How The Bank Lobby Owns Washington

HuffingtonPost.com | Dan Froomkin | Posted 01.30.2012 | Politics

Auction 2012 is a weeklong series in collaboration with "The Dylan Ratigan Show" and United Republic. When Washington puts policy on the auction bl...

Did Obama Break His Pledge to Force Banks to Help Homeowners?

The Huffington Post | Lila Shapiro | Posted 05.25.2011 | Business

Has Obama broken his pledge to help struggling homeowners facing the threat of foreclosure? ProPublica has a lengthy article out examining the way...

Farm Loan Crisis of 1980s Demonstrates How "Stripdowns" Worked without Working

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

The longer this foreclosure crisis drags on, the clearer it is that voluntary loan modification programs are inadequate to meet the needs of millions of borrowers with homes worth less than the mortgages.

For Whom the Bell Tolls: Making the Best Choice for Borrowers in a Bad Situation

Roberto G. Quercia | Posted 05.25.2011 | Business
Roberto G. Quercia

Despite efforts by industry and elected officials to discourage it, more and more borrowers may choose to exercise their option to default.

Shahien Nasiripour

Bank of America Now Supports Cramdown, Giving Judges Authority To Modify Home Mortgages (VIDEO)

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Updated at 7:10 p.m. with new information. Bank of America, the nation's largest lender and its biggest bank by assets, now supports changing the la...

Arthur Delaney

Durbin Considers Cramdown-Related Amendment As Part Of Wall Street Reform

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Politics

Story updated -- see below: Senate Majority Whip Dick Durbin (D-Ill.) is considering amending Wall Street reform legislation to allow something simil...

Will the Colorado U.S. Senate Campaign Be Driven by Money or Issues?

Michele Swenson | Posted 05.25.2011 | Denver
Michele Swenson

The Democratic Party hierarchy's anointing of Michael Bennet as Colorado's senator in 2011 is viewed by many as a blatant attempt to trump choice by the people.

LA's Housing Mess Not Likely to Be Fixed by Mortgage Modification Plan

Charles Feldman | Posted 05.25.2011 | Los Angeles
Charles Feldman

The administration's $75 billion plan was supposed to aid millions of homeowners across the U.S., and thousands here in SoCal. It's become painfully obvious to me that the plan was a dismal failure.

Let's Make a Deal: Beltway Edition

Michael Winship | Posted 05.25.2011 | Business
Michael Winship

While executives are dancing with your dollars, the foreclosures they helped to bring on continue to rise. Many banks are dragging their feet, enjoying the bailout bucks but failing to spread them around.

The Story That Made Me Tear Up My Prepared Speech at a Big Education Conference

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

Shouldn't we also be living in a country that can come together right now and bail out schoolchildren who, unlike Wall Street, are too small to be allowed to fail before they have been allowed to succeed?

Ryan Grim

Cramdown Is Back: Banks Against Homeowners, Round 2

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

Cramdown is back. House Financial Services Committee Chairman Barney Frank (D-Mass.) tells the Huffington Post he plans to revive the effort to give...

Banks Still Cheating People Out of Their Homes

Mike Elk | Posted 05.25.2011 | Business
Mike Elk

We can't allow Wall Street to go on cheating people out of the most important possession of their lives -- their home.

Jeff Muskus

Administration Belatedly Pushing Banks To Slow Foreclosures

HuffingtonPost.com | Jeff Muskus | Posted 05.25.2011 | Business

Months too late, the Obama administration is pushing the finance industry for further action to stem the vast tide of home foreclosures. The administ...

Obama's Agenda: Hope, Change and Lobby-Centricity

Stuart Whatley | Posted 05.25.2011 | Politics
Stuart Whatley

Obama's self-imposed rule against lobbyists in his administration, and the method whereby he is now implementing his progressive agenda, hews toward a rather perverse irony, if not hypocrisy.

The Good, the Bad, the Ugly: Financial Sector Regulation

Robert Weissman | Posted 05.25.2011 | Business
Robert Weissman

There's no question that Wall Street is going to mobilize -- is already mobilized -- to defeat the administration's positive proposals.

Did Barack Obama "Kill" the Progressive Movement?

Jane Hamsher | Posted 05.25.2011 | Politics
Jane Hamsher

I understand that nobody wants to be on the outside like they were during the Bush years, but the price of a few cocktail parties at the White House -- and the threat of lost donors -- is buying a lot more than it should.

Ryan Grim

Congress Passes Landmark Credit Card Reform; House Passes GOP Amendment To Allow Guns In National Parks

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

The House of Representatives passed sweeping credit card reform legislation Wednesday aimed at limiting abusive and deceptive credit card practices. T...

Arthur Delaney

MoveOn Targets Specter And Other Dems For Siding With Banks (VIDEO)

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Politics

A series of new web ads by MoveOn.org targets Senate Democrats for stripping a provision from recently-passed bankruptcy reform legislation that would...

White House Silence May Have Doomed Mortgage Cramdown Bill

Washington Independent | Posted 05.25.2011 | Politics

Though mortgage bankruptcy reform has been a central component of the Obama administration's foreclosure prevention strategy, the White House all but ...

Tax Havens and the Business Lobby

The Progress Report | Posted 05.25.2011 | Business
The Progress Report

In a time when we're facing a banking crisis that many of the banks created, it is hard to believe that the banks are still the most powerful lobby on Capitol Hill. They frankly own the place.

The Stress Tests Fail The Smell Test

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

The results of the much-anticipated bank stress tests are finally set to be released on Thursday. But we can already give the Obama economic team a grade for the way the tests have been handled: F.

Do They Frankly Own the Place? You Betcha!

Paul Blumenthal | Posted 05.25.2011 | Politics
Paul Blumenthal

The financial sector has been running wild through Washington over the past 11 years -- getting whatever it pleases and blocking whatever it doesn't.

Ryan Grim

In Their Own Words: Why Dem Senators Screwed Homeowners

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

Only 45 Senate Democrats voted Thursday to oppose the banking industry and pass legislation aimed at stemming foreclosures. The bill would have allowe...

Ryan Grim

Cramdown Vote: Banks Bought Senators On The Cheap

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

Sen. Dick Durbin (D-Ill.) introduced legislation in the Senate Thursday which would allow homeowners in bankruptcy to renegotiate -- or cramdown -- mo...

Why Are Bankers Still Being Treated As Beltway Royalty?

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

How do the same banks that have repeatedly come to Washington over the last eight months asking for billions to rescue them from their catastrophic mistakes, somehow still "own the place"?