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Liar Loans

What Mitt Romney and Liar Loans Have in Common (Be Very Afraid)

Adam Levin | Posted 12.05.2012 | Money
Adam Levin

As I watched Governor Romney in the presidential debate Wednesday night I was reminded of a financial tactic the candidate's political supporters and financial backers on Wall Street used during the mortgage boom -- the one that netted them billions of dollars while simultaneously pushing the American economy off a cliff.

Lenders Put the Lies in Liar's Loans, Part 2

William K. Black | Posted 05.25.2011 | Business
William K. Black

It strains all credulity to think that millions of working class Americans managed to defraud financially sophisticated lenders. And yet that's what bank apologists insist.

Weekly Audit: Foreclosuregate Hits Home

The Media Consortium | Posted 05.25.2011 | Politics
The Media Consortium

Weekly Audit: Foreclosuregate Hits Homeby Lindsay Beyerstein, Media Consortium blogger Earlier this month, Bank of America (BOA), the country's larges...

6 Ways To Fix The Mortgage Mess NOW

Peter G. Miller | Posted 05.25.2011 | Politics
Peter G. Miller

For all the talk of reform on Wall Street, a quicker and easier way to assure that big banks don't fail and small borrowers don't get screwed is to si...

Financial Reform: It's the Derivatives, Stupid!

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

Wall Streeters who get millions in bonuses to know better are still trading in derivatives. Nothing is preventing another financial collapse, when Wall Street will come crying to Washington for a new $700 billion

Q&A with Housing Bubble Forecaster Dean Baker

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

Baker: "For most economists, the idea that a market would take leave from its senses -- that it would be driven by speculation -- is almost inconceivable."

"Liar Loans" Threaten To Prolong Mortgage Crisis

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. The worst of t...