Subprime Crisis

Fearing Fear Itself

Marian Salzman | Posted 05.07.2012

Read More: Obama Hope, Google, Subprime Crisis, Gmos, Fear, Fukushima, France, 9/11, French Jews, Elections 2012, The Economy, Palestinians, Mad Cow Disease, Bernie Madoff, France Elections, Politics, Students Loans, Advertising, College, Martin Luther King Jr., Public Relations, Fearless, Japan, Israel, Generation Y, South Sudan, Becoming Fearless, Becoming-Fearless, Politics News

In this election year, I've been on fear watch. Folks are fearful of everything from 2012 theories to GMOs to student loans taking over as the number one source of pain for college grads everywhere.

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The Incredible Shrinking Bank Of America

HuffingtonPost.com | Mark Gongloff | Posted 02.02.2012

Read More: Subprime Crisis, Subprime Mortgages, Wells Fargo, Countrywide Financial, Subprime Mortgage Crisis, Bank of America, Bank of America Countrywide, Banking Reform, Subprime Loans, Banking Industry, Business News

Once the biggest bank in the country, Bank of America is shrinking before our very eyes. After more than three years at the top, Bank of America is...

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California Still Not Joining National Mortgage Settlement

HuffingtonPost.com | Loren Berlin | Posted 01.30.2012

Read More: Financial Fraud, Subprime Crisis, Foreclosure Crisis, Mortgage Settlement, National Mortgage Deal, Housing, Kamala Harris, California Attorney General, Eric Schneiderman, Financial Fraud Enforcement Task Force, Housing Crisis, Business News

One day after New York Attorney General Eric Schneiderman was named co-chairman of a federal mortgage fraud task force, California Attorney General Ka...

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States Weigh Two Possible Deals To Address Wrongful Foreclosures

HuffingtonPost.com | Loren Berlin | Posted 01.19.2012

Read More: Foreclosure Crisis, Subprime Crisis, Housing, Attorneys General, Robosigning, Mortgage Crisis, Housing Crisis, Business News

As the national settlement talks to resolve mortgage companies' wrongful foreclosures inch towards a conclusion, the size of the deal hinges on Califo...

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S&P Considers Ranking Subprime-Backed Securities Above U.S. Government

The Huffington Post | Alexander Eichler | Posted 10.31.2011

Read More: Subprime Crisis, Subprime Mortgages, Subprime Mortgage Crisis, Financial Crisis, Standard & Poor's, Credit Rating Agencies, S&P, Credit Rating, Subprime Loans, U.S. Credit Downgrade, Business News

Though the credit rating agency Standard & Poor's no longer believes the United States merits a top triple-A rating, it is prepared to put its stamp o...

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Goldman Sachs Took Biggest Loan During Fed's Emergency Program

Posted 09.05.2011

Read More: Federal Reserve, Goldman Sachs, Ubs, 2008 Financial Crisis, Subprime Crisis, Fed-Window, Bloomberg News, Lehman Brothers, Royal Bank of Scotland, Business News

WASHINGTON - Goldman Sachs, Lehman Brothers, and European banks RBS and UBS were the biggest beneficiaries of very short-term Federal Reserve loan...

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Ex-Mortgage CEO Sentenced To Prison For $3B Fraud

AP | MATTHEW BARAKAT | Posted 08.22.2011

Read More: Subprime Crisis, Paul Allen, Housing Crisis, Mortgage Jail, Financial Prison, Mortgage Prison, Mortgage Fraud, Mortgage Ceo, Business News

ALEXANDRIA, Va. — The CEO of what had been one of the nation's largest privately held mortgage lenders was sentenced Tuesday to more than three ...

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Goldman Sachs Says Regulators Might Bring Fraud Charges

AP | Posted 07.10.2011

Read More: Mortgage Crisis, Financial Crisis, Goldman Sachs, Federal Regulators, Subprime Crisis, Commodity Futures Trading Commission, Wall Street Fraud, Cftc, Business News

WASHINGTON -- Goldman Sachs & Co. says one of its units is being investigated by federal regulators over whether it improperly used investment account...

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Freddie Mac Posts First Quarterly Gain In Two Years

AP | By DEREK KRAVITZ | Posted 07.04.2011

Read More: Mortgage Crisis, Fannie Mae, Foreclosure, Subprime Crisis, Freddie Mac, Quarterly Earning, Home Loans, Quarterly Gain, Housing Crisis, Financial Capital Markets, Business News

WASHINGTON -- Freddie Mac reported earning $676 million in the January-March quarter, the first time the bailed-out mortgage giant has posted a quarte...

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Deutsche Bank Faces U.S. Mortgage Fraud Lawsuit, Accused Of Lying To Be Included In Federal Program

Posted 07.03.2011

Read More: Bank Fraud, Deutsche Bank, Mortgage Lawsuit, US Homeowners, Subprime Crisis, United States Mortgage Lawsuit, Mortgage Fraud, Mortgageit, Deutsche Lawsuit, Business News

The United States sued Deutsche Bank AG, accusing the German bank and its MortgageIT Inc unit of repeatedly lying to be included in a federal prog...

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2011: The Year of the Brain (and Other Trends)

Marian Salzman | Posted 05.25.2011

This is the 12th in a series of 12 posts expounding on the 2011 forecasts in the annual trends report from Salzman, president of Euro RSCG Worldwide PR and an internationally respected trendspotter.

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My Talk With Michael Hudson, Part 2

Michael W. Hudson | Posted 05.25.2011

Read More: Financial Fraud, Mortgages, Subprime Crisis, First Alliance Mortgage, Predatory Lending, Center for Public Integrity, Lehman Brothers, Subprime Mortgage Crisis, Business News, Financial Crisis, Federal Reserve, Mistaken Identity, Michael Hudson, Subprime, Subprime Mortgage, Business News

The Reagan years inundated American homeowners with advertising campaigns encouraging them to borrow against their homes to take dream vacations. This was the first time, in history, when people imagined the way to get rich was to run in to debt.

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How Sex, Drugs, and Fraud Drove the Financial Crisis

Michael W. Hudson | Posted 05.25.2011

Given the current robosigning, document-backdating foreclosure crisis, it's worth thinking about what happens when fraud and recklessness go unchecked. Here it is in the words of Wall Street's finest.

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Tony Hayward Is the Identified Patient

Tony Schwartz | Posted 05.25.2011

Read More: Bp, Leadership, Tony Hayward, Subprime Crisis, Gulf Oil Spill, Business News

Hayward misbehaved by saying what he felt. But is there any reason to believe he is worse as an executive than any of his colleagues? He did spend nearly 30 years rising steadily through the ranks at BP, and he was the guy who reached the top.

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Morgan Stanley Subprime Settlement Costs Firm $102 Milllion

AP | BOB SALSBERG | Posted 05.25.2011

Read More: Subprime Crisis, Morgan Stanley, Subprime Mortgages, Predatory Lending, Unfair Lending, Martha Coakley, Morgan Stanley Subprime, Business News

BOSTON — Morgan Stanley agreed Thursday to a nearly $103 million settlement with Massachusetts investigators who alleged the investment bank bac...

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Michael Burry: The Unlikely Billionaire Investor In Michael Lewis's Latest Book

Huffington Post | Grace Kiser | Posted 05.25.2011

Read More: Subprime Crisis, Economy, Mortgage Crisis, Michael Lewis, Credit Default Swaps, Recession, Deutsche Bank, Goldman Sachs, Morgan Stanley, John Paulson, Financial Crisis, Bear Stearns, Subprime Loans, Michael Burry, Home Loans, Business News

In his new book, "The Big Short" -- excerpted in the latest Vanity Fair -- Michael Lewis profiles the value investor who foresaw the mortgage meltdown...

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Lowering the Boom on Financial Leverage

David A. Moss | Posted 05.25.2011

Read More: Subprime Crisis, Leveraged-Loans, Leverage, Economy, Recession, Subprime Mortgage Crisis, Business News

A healthy financial system would have been able to absorb the subprime shock. But our financial system, wildly overleveraged, crumpled after just one blow. If we don't fix the leverage problem, everything else will be for naught.

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At Long Beach Mortgage, A Top Subprime Lender, Policies Were An Invitation To Fraud

Huffington Post Investigative Fund | David Heath | Posted 05.25.2011

Read More: Long Beach Mortgage, Diane Kosch, Mortgages, Subprime Crisis, Washington Mutual, Real Estate Bubble, Wamu, Subprime, Housing Crisis, Video, Business News

First of two articles about the roots of the subprime lending bubble. Diane Kosch had one of the most thankless jobs in the subprime lending craze....

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The Big Dollar Bustout ... Is Too Big To Fail Still an Option?

Eric Ehrmann | Posted 05.25.2011

Read More: Subprime Crisis, Pentagon, Henry Kissinger, Somerset Maugham, Ronald Reagan, Bric, The Lost Generation, Federal Reserve, Twitter, Hitler, China, Reserve Currency, Woodrow Wilson, Slow Movement, Barack Obama, Thomas Mann, Gabriel Garcia Marquez, Nobel Prize, Sidwell Friends, Austrian Economics, Foreclosures, Russia, Rupert Murdoch, League of Nations, Timothy Geithner, Paul Krugman, Death in Venice, Jfk, Great Depression, F. Scott Fitzgerald, Stalin, Business News

With efforts to rebrand America's national identity in the electronic media falling flat like a bad online date, taking away the dollar's too big to fail status might be the better wake up call.

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ReThink Review: American Casino -- Gambling on Timebomb Loans

Jonathan Kim | Posted 05.25.2011

Read More: Subprime Crisis, Wells Fargo, Cenk Uygur, Rethink Reviews, American Casino, Credit Default Swaps, Jonathan Kim, Housing Crisis, Movie Reviews, Jonathan Kim Movie Reviews, Subprime Mortgages, Subprime Mortgage Crisis, Reverse Redlining, The Young Turks, Alan Greenspan, Subprime Loans, Entertainment News

When you hear terms that sound very technical like "credit default swap" and "reverse redlining", it's easy for part of your brain to shut off. I was guilty of this myself.

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10 Myths About The Subprime Crisis

clevelandfed.org | Yuliya Demyanyk | Posted 05.25.2011

Read More: Yulikya Demyank, Subprime Crisis, 10 Myths About Subprime Morgtgages, Cleveland Fed, Real Estate Ciris, Housing Crisis, Business News

On close inspection many of the most popular explanations for the subprime crisis turn out to be myths. Empirical research shows that the causes of th...

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What Really Caused The Foreclosure Crisis?

wsj.com | STAN LIEBOWITZ | Posted 05.25.2011

Read More: Real Estate Crisis, Subprime Crisis, Subprime Loans, Stan Liebowitz, Housing Crisis, Foreclosure Crisis, Zero Money Down, Business News

What is really behind the mushrooming rate of mortgage foreclosures since 2007? The evidence from a huge national database containing millions of indi...

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Who Can we Bank on as Crisis Gets Worse?

Danny Schechter | Posted 05.25.2011

Read More: Federal Reserve Bank, Rico, Obama, Finance, Financial Regulation, Goldman Sachs, Subprime Crisis, Hank Paulson, Bear Stearns, Citigroup, Foreclosure News, Business News

Washington seems tethered at the hip to Wall Street and continues to do its bidding. Obama wants to give us confidence, but the most trenchant critics believe a total collapse is in the offing.

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NY Times Writer and His Mortgage Woes

Yvette Kantrow | Posted 05.25.2011

Read More: Subprime Crisis, Mortgage, Subprime Mortgages, Megan McArdle, The Atlantic, The New York Times, Oprah, Financial Crisis, Financial Journalism, Edmund Andrews, Media, Foreclosure, Foreclosure News, Media News

It does make you wonder: What would this story read like if his wife wrote it? And I'm not convinced that Andrews' airing of his dirty laundry is such an act of bravery.

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Last Call for Mortgage Reform

Harry Moroz | Posted 05.25.2011

Read More: Loans, Abusive Lending, Subprime Crisis, Mortgage Reform and Anti-Predatory Lending Act, House, Housing Crisis, Mortgages, Business News

Lenders often used mortgage refinancing to strip middle-class homeowners of the equity they relied on to obtain loans to help make ends meet.

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