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Elise Foley

Issa, Cummings Clash Over Subpoenas Of Obama Administration

HuffingtonPost.com | Elise Foley | Posted 05.25.2011 | Politics

WASHINGTON -- Rep. Darrell Issa issued two subpoenas this week targeting the Obama administration, reigniting a dispute with Democrats on the House Ov...

FBI Nabs Countrywide's Mozilo for Overtanning

Jack Hidary | Posted 05.25.2011 | Comedy
Jack Hidary

The FBI announced last week that it failed to come up with financial charges against Angelo Mozilo, the notorious former head of Countrywide Financia...

Video Interview With Bethany McLean, Co-Author of All the Devils Are Here

Mark Bazer | Posted 05.25.2011 | Chicago
Mark Bazer

Bethany McLean, co-author of All the Devils Are Here: The Hidden History of the Financial Crisis, stopped by to discuss the book and who are the biggest a**holes on Wall Street.

California Settles Predatory Lending Lawsuit Against Countrywide Execs

AP | Posted 05.25.2011 | Los Angeles

LOS ANGELES — The state of California has reached a settlement in a predatory lending lawsuit against former executives at Countrywide Financial...

Gretchen Morgenson: In Bank Crisis Report, a Whodunit With Laughs and Tears

nytimes.com | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

TRULY startling revelations were few in the voluminous report, published last Thursday by the Financial Crisis Inquiry Commission on the origins of th...

Bank Bailouts: 'The Screwing Of The American People' (VIDEO)

The Huffington Post | Yepoka Yeebo | Posted 05.25.2011 | Business

In a video exploration of the bank bailouts, two cute creatures decide the bank bailouts amount to "the screwing of the American people." In the n...

What Does WikiLeaks have on Bank of America?

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

WikiLeaks founder Julian Assange is promising to unleash a cache of secret documents from the hard drive of a U.S. megabank executive. In 2009, he told Computer World that the bank was Bank of America (BofA).

Blame the Victims and Enrich the Perpetrators

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Despite evidence of widespread interconnected mortgage lending, securitization, and foreclosure wrong-doing across the financial sector, there are no meaningful felony indictments.

Bank Of America Sets Up WikiLeaks Defense Team

The Huffington Post | Lila Shapiro | Posted 05.25.2011 | Business

In a burst of wikipanic, Bank of America has dived into full-on counterespionage mode. In an interview from October 2009, WikiLeaks director Juli...

Allstate Sues BofA, Mozilo Over Countrywide Losses

Posted 05.25.2011 | Business

NEW YORK (By Jonathan Stempel) - Allstate Corp has sued Bank of America Corp, its Countrywide lending unit and 17 other defendants for allegedly misr...

Bank Of America Wants Judge To Throw Out Racketeering Lawsuit Over 'Robo-Signers'

Posted 05.25.2011 | Business

NEW YORK (by Jonathan Stempel) - Bank of America Corp (BAC.N) has urged a federal judge to throw out a racketeering lawsuit over its alleged use of "...

Foreclosure-Gate Fallout: How Bad Can It Get For Wall Street?

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

JPMorgan Chase loves using its research department to push its agenda that puts them in the optimist camp. But take a look at their methodology. The scope of losses gets drastically larger if you change a few arbitrary assumptions.

Seven Villians Of The Financial Crisis: Where Are They Now?

DailyFinance | BRUCE WATSON | Posted 05.25.2011 | Business

In 2008, as the economy seemed to be in free-fall, pundits, politicians and the public cast about in search of the ultimate villain, the Wall Street w...

Inflated Home Appraisals Key In Plaintiff's Lawsuit Against Banks

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

Recent filings by two Federal Home Loan Banks -- in San Francisco and Seattle -- offer an intriguing way to clear this high hurdle. Lawyers representi...

Why Were Fannie Mae & Freddie Mac Hot For Countrywide

The New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Politics

Outwardly, Fannie and Freddie wrapped themselves in the American flag and the dream of homeownership. But internally, they were relentless in their pu...

Countrywide Pays $600 Million To Settle Lawsuits Over Subprime Loans, No Wrongdoing Admitted

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Former shareholders of fallen mortgage giant Countrywide Financial Corp. are in line to recoup a fraction of their investments now that...

Countrywide SUED For Racism, Accused Of Steering Minorities Into Risky Mortages

AP | SOPHIA TAREEN | Posted 05.25.2011 | Chicago

CHICAGO — Attorney General Lisa Madigan filed a lawsuit Tuesday against Countrywide, alleging the fallen mortgage industry giant discriminated a...

Homeowners Score Points With Recent Countrywide Fine, Wells Fargo Case

New York Times | Gretchen Morgenson | Posted 05.25.2011 | Business

While the wheels of justice have turned very slowly in the years since our nation's financiers and regulators nearly cratered our economy, the Federal...

Bank Of America To Start Reducing Principal On 'Underwater' Mortgages

AP | IEVA M. AUGSTUMS | Posted 05.25.2011 | Business

CHARLOTTE, N.C. — Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. The bank,...

Chris Dodd, Phil Gramm, and the Legacy of a Statesman

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

In the past 24 hours, Dodd appears to have been going to bat for Wall Street, not out of concern for any greater political good, but exclusively for the purpose of padding the profits of big banks.

Bombing Capitalism

Esther Iverem | Posted 05.25.2011 | Entertainment
Esther Iverem

On a throwback vibe, you could say that Capitalism: A Love Story is the bomb. By exploring the economic system of capitalism as an evil, Moore fires a salvo into the heart of America's social machine.

Freshman Democrat Quigley Set To Break Ranks With Party Over Dodd, Conrad Subpoenas

Huffington Post | Tim Taliaferro | Posted 05.25.2011 | Chicago

Seniority, party loyalty and congressional etiquette don't seem to get in the way of Rep. Mike Quigley (D-Ill.). The freshman lawmaker is ready to br...

Bank of America Trailing Behind Other Banks In Mortgage Relief

Washington Post | Renae Merle | Posted 05.25.2011 | Business

Bank of America employees are reminded every day of how far they still have to go. Just outside the elevators of their vast third-floor command center...

Joseph Stiglitz: Moral Bankruptcy

Mother Jones | Joseph Stiglitz | Posted 05.25.2011 | Business

We have created a society in which materialism overwhelms moral commitment, in which the rapid growth that we have achieved is not sustainable environ...

Wall Street Journal Reporter Conceals Facts About The Real Countrywide Mortgage Scandal

David Fiderer | Posted 05.25.2011 | Media
David Fiderer

Just like the birthers, who refuse to acknowledge Obama's birth certificate, Rep. Darrell Issa and Wall Street Journal reporter Emshwiller refuse to acknowledge the mountain of evidence that the Countrywide VIP "scandal" has been thoroughly discredited.