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Congressional Oversight Panel

Making Our Roads Safe This Holiday Season

Rep. Bruce Braley | Posted 02.01.2012 | Politics
Rep. Bruce Braley

As someone with truck driving experience, I have a deep respect for the profession. We must do everything that we can to ensure that trucking companies don't force their drivers to drive long hours with few breaks to sleep and rest.

Alexander Eichler

New Report: Federal Prosecution Of Financial Fraud Falls To 20-Year Low

HuffingtonPost.com | Alexander Eichler | Posted 11.16.2011 | Business

Public mistrust for banks may be at an all-time high, but federal prosecution for certain financial crimes is down to a 20-year low. The federal go...

"A Healthy Financial System Cannot Be Built on the Expectation of Bailouts"

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

TARP played a significant role preventing the mini-depression from becoming a full-blown Great Depression, but part of the cost is to distort further incentives at the heart of Wall Street.

Banks Only Halfway Through Commercial Real Estate Losses

Posted 05.25.2011 | Business

WASHINGTON (Reuters) -- A top government financial regulator said on Friday banks have taken only about half the hit they will experience from commer...

How The Foreclosure Mess Could Hurt The Recovery

The Huffington Post | Abby Wendle | Posted 05.25.2011 | Business

Hopes for economic improvement this year are being threatened by the lingering mess of unresolved foreclosures. Alleged foreclosure fraud committed...

Wall Street's Fatal Defect

Mark Sunshine | Posted 05.25.2011 | Business
Mark Sunshine

According to the Congressional Oversight Panel, many private label mortgage backed bonds have a fatal defect that Wall Street is downplaying: many mortgage backed bonds may not be backed by mortgages.

Shahien Nasiripour

Obama's Foreclosure Program Will Reach Less Than One Quarter Of Administration's Target

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The Obama administration's signature anti-foreclosure program will ultimately aid less than a quarter of the nearly four million distressed homeowners...

Foreclosure Hearings Show Homeowners Who in Washington Cares

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

While the result of recent mortgage foreclosure and HAMP hearings remains to be seen, there's a sense that a handful of government officials get it and seem to be looking out for the rest of us.

Man Makes Ridiculously Complicated Chart To Find Out Who Owns His Mortgage

Posted 05.25.2011 | Business

We all know the mortgage securitization process is complicated. But just how complicated? The chart below from Zero Hedge shows the convoluted journe...

Man Makes Ridiculously Complicated Chart To Find Out Who Owns His Mortgage

The Huffington Post | William Alden | Posted 05.25.2011 | Business

We all know the mortgage securitization process is complicated. But just how complicated? The chart below from Zero Hedge shows the convoluted jour...

Shahien Nasiripour

'Robo-Signer' Foreclosure Scandal May Threaten Fundamental Financial Stability, Government Watchdog Warns

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

This story was updated at 11:30 a.m. and 4:10 p.m. ET to include more information. The ongoing "turmoil" roiling megabanks and their faulty home fore...

Shahien Nasiripour

Homeowners Get The Boot For Bad Paperwork While Banks Get Millions For Same

HuffingtonPost.com | Shahien Nasiripour | Posted 10.29.2010 | Business

Mortgage companies enrolled in the Obama administration's signature foreclosure-prevention initiative may be receiving taxpayer funds despite not havi...

Shahien Nasiripour

Bailout Oversight Panel Slams Obama Administration Over Foreclosure Crisis

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

WASHINGTON -- A key government panel keeping tabs on the bailout strongly criticized the Obama administration Wednesday for its apparent failure on a ...

William Alden

Kenneth Feinberg, Former Pay Czar, Admits Contradiction In His TARP Role

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

Testifying before the Congressional Oversight Panel on Thursday, Kenneth Feinberg came close to admitting that he had failed in his job as pay czar, s...

Watchdog Slams Companies Government Hired To Prevent Foreclosures

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — The bailed-out mortgage companies hired by the Treasury Department to manage its main program designed to prevent foreclosures probably...

Ryan Grim

Ted Kaufman To Replace Warren On Bailout Oversight Panel

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

Sen. Ted Kaufman, the outgoing Delaware senator who battled to break up major banks the past year, will replace Elizabeth Warren as chair of the Congr...

Elizabeth Warren Was Paid To Be An Expert Witness In Cases Against Bailed-Out Banks

The Huffington Post | William Alden | Posted 05.25.2011 | Business

While acting as a government-appointed bailout watchdog, Elizabeth Warren, whom President Obama appointed this month to lead the creation of the Consu...

Elizabeth Warren on Way to Being Sidelined as Head of Consumer Protection Agency, Relegated to "Advisor" Role

Yves Smith | Posted 05.25.2011 | Business
Yves Smith

Will Elizabeth Warren last? Both Brooksley Born and Sheila Bair have been accused of not being team players. With the team being industry cronies, that's a badge of honor.

Elizabeth Warren To Speak At Financial Insiders' Dinner

Huffington Post | William Alden | Posted 05.25.2011 | Business

Elizabeth Warren, chair of the Congressional Oversight Panel, a federal bailout watchdog, and a likely nominee to head the new Consumer Financial Prot...

Small Banks STILL Struggling Despite Wall Street Bailout

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — To the list of economic woes squeezing small banks, add another one: government bailouts. The Treasury Department's bailout progra...

Weekly Audit: Foreclosure Mills, Social Security and the Fed's Failures

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Amanda Anderson, Media Consortium blogger Editor's Note: Zach Carter is out this week, but we've compiled a rundown of the biggest economy-related ...

Shahien Nasiripour

Divisions Emerge Among Republicans Over Elizabeth Warren

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

This story was updated at 11:45 p.m. ET to include mention of a Boston Globe op-ed. A growing divide has emerged among Republicans over the possible ...

Shahien Nasiripour

Top Senate Democrat Questions Obama Foreclosure Program's Effectiveness

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The second-ranking Democrat in the Senate expressed concern Thursday over the ultimate effectiveness of the Obama administration's signature foreclosu...

Shahien Nasiripour

Bailout Watchdog Criticizes Geithner Over Obama Housing Plan

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The panel created to keep tabs on the federal bailout grilled Treasury Secretary Timothy Geithner on Tuesday over the lackluster performance of the ad...

Shahien Nasiripour

75% Of Homeowners In Obama's Loan Modification Plan Still Owe More Than Their Homes Are Worth

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

More than three-quarters of homeowners who have had their monthly mortgage payments reduced under the Obama administration's primary foreclosure-preve...