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California Could Join Multistate Mortgage Probe

latimes.com | Posted 05.25.2011 | Business

California officials are considering joining a multistate investigation of whether lenders have violated foreclosure laws when seizing houses from del...

My Talk With Michael Hudson, Part 3

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

However preordained the financial crisis was, it's remarkable how long its architects kept the game going. They managed to sustain the unsustainable for five years -- roughly from 2002 into late 2006.

My Talk With Michael Hudson, Part 1

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

We first became aware of the "Will-the-real-Michael-Hudson-please-stand-up?" problem years ago when we started getting compliments from friends and colleagues for each others work.

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.

N.Y.Times Op-Ed Impugns Financial Reform by Imagining Fannie Is Just Like Wall Street

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

John Carney's New York Times op-ed piece is a tour de force, a paean to nonsensical thinking. He ignores the Fannie and Freddie of the real world. Instead, he goes after the Fannie and Freddie that exist only in his imagination.

CNBC Protects Bad Guys Who Took Huge Bailouts from Taxpayers

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

CNBC acts as if over-borrowing by U.S. consumers created a global financial crisis. This myth protects Wall Street banks.