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Subprime Crisis

Reforming Payday Lending Practices Is One Important Way to Address Wealth Inequality

Andrea Levere | Posted 05.03.2015 | Business
Andrea Levere

The economic recovery has not benefited Americans equally. We all know that. But few facts underscore that point more clearly than the startling number of consumers whose financial futures have been put on hold by subprime credit scores.

A Few More Words About Women and Work

Karen Hinton | Posted 07.02.2013 | Politics
Karen Hinton

In government, corporate and nonprofit offices across the country are women who are smart, work hard and care about their profession but are regularly ignored because they are viewed as too mousy or too pouty or too inexperienced or too something.

The S&P Case and the Problem of Financial Opinion

Robert Teitelman | Posted 04.09.2013 | Business
Robert Teitelman

We've seen both problems before, notably in Eliot Spitzer's crusade against Wall Street analysts in 2001. The parallels are remarkable; the resolution is unsettling. What did we have?

Fearing Fear Itself

Marian Salzman | Posted 07.07.2012 | Politics
Marian Salzman

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.

Mark Gongloff

The Incredible Shrinking Bank Of America | Mark Gongloff | Posted 02.02.2012 | Business

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...

Loren Berlin

California Still Not Joining National Mortgage Settlement | Loren Berlin | Posted 01.30.2012 | Business

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

Loren Berlin

States Weigh Two Possible Deals To Address Wrongful Foreclosures | Loren Berlin | Posted 01.19.2012 | Business

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

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

The Huffington Post | Alexander Eichler | Posted 10.31.2011 | Business

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...

Goldman Sachs Took Biggest Loan During Fed's Emergency Program

Posted 09.05.2011 | Business

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

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

Posted 07.03.2011 | Business

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 program ...

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

Marian Salzman | Posted 05.25.2011 | Business
Marian Salzman

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.

My Talk With Michael Hudson, Part 2

Michael W. Hudson | Posted 05.25.2011 | Business
Michael W. Hudson

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.

How Sex, Drugs, and Fraud Drove the Financial Crisis

Michael W. Hudson | Posted 05.25.2011 | Business
Michael W. Hudson

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.

Tony Hayward Is the Identified Patient

Tony Schwartz | Posted 05.25.2011 | Business
Tony Schwartz

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.

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

Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

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

Lowering the Boom on Financial Leverage

David A. Moss | Posted 05.25.2011 | Business
David A. Moss

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.

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

Eric Ehrmann | Posted 05.25.2011 | Business
Eric Ehrmann

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.

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

Huffington Post Investigative Fund | David Heath | Posted 05.25.2011 | Business

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....

ReThink Review: American Casino -- Gambling on Timebomb Loans

Jonathan Kim | Posted 05.25.2011 | Entertainment
Jonathan Kim

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.

10 Myths About The Subprime Crisis | Yuliya Demyanyk | Posted 05.25.2011 | Business

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...

What Really Caused The Foreclosure Crisis? | STAN LIEBOWITZ | Posted 05.25.2011 | Business

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

Who Can we Bank on as Crisis Gets Worse?

Danny Schechter | Posted 05.25.2011 | Business
Danny Schechter

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.

NY Times Writer and His Mortgage Woes

Yvette Kantrow | Posted 05.25.2011 | Media
Yvette Kantrow

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.

Last Call for Mortgage Reform

Harry Moroz | Posted 05.25.2011 | Business
Harry Moroz

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

The Subprime 25: The Top 25 Lenders Responsible For Almost $1 Trillion Of Subprime Loans

Center for Public Integrity | Posted 05.25.2011 | Business

Today, the Center for Public Integrity releases the results of its investigation into the housing crisis, which showed that investment banks, some of ...