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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

HuffingtonPost.com | 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

HuffingtonPost.com | 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

HuffingtonPost.com | 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 loan...

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

AP | MATTHEW BARAKAT | Posted 08.22.2011 | Business

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 ...

Goldman Sachs Says Regulators Might Bring Fraud Charges

AP | Posted 07.10.2011 | Business

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

Freddie Mac Posts First Quarterly Gain In Two Years

AP | By DEREK KRAVITZ | Posted 07.04.2011 | Business

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

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 prog...

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.

Morgan Stanley Subprime Settlement Costs Firm $102 Milllion

AP | BOB SALSBERG | Posted 05.25.2011 | Business

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

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.

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....

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.

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

clevelandfed.org | 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?

wsj.com | 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...