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Subprime

Zach Carter

Matt Taibbi: 'Deceptive' Subprime Lending Is Reason For The Financial Collapse

HuffingtonPost.com | Zach Carter | Posted 01.23.2014 | Politics

Bankers weren't the villains of the 2008 financial crisis: they were victims of Washington's foolish affordable housing fixation. Or at least that'...

Goldman Touting Subprime Mortgages Again

The Huffington Post | Mark Gongloff | Posted 11.30.2012 | Business

Hey, girl, you can totally trust Goldman Sachs now when it suggests you should buy subprime mortgages. Not like that other time. Goldman is telling...

Zach Carter

Wall Street 'Could Live With' Tax Hikes For Rich, Says Obama's Top Finance Ally

HuffingtonPost.com | Zach Carter | Posted 11.13.2012 | Politics

WASHINGTON -- Wall Street's hostility toward President Barack Obama has been playing out for years in the form of extreme rhetoric and lopsided campai...

Dude, Here's Your Car

AP | DEE-ANN DURBIN | Posted 07.20.2012 | Money

DETROIT -- For car buyers seeking auto loans, happy days are here again. U.S. banks and auto finance companies are once again welcoming all kinds of ...

Zach Carter

Wall Street 'Cash Committee', In Congress To Lose Hardest Hitting Members

HuffingtonPost.com | Zach Carter | Posted 06.20.2012 | Politics

WASHINGTON -- Some of the toughest questions for JPMorgan Chase CEO Jamie Dimon during Tuesday's House Financial Services Committee hearing came from ...

Zach Carter

Obama Foreclosure Program Criticized By Expert Panel

HuffingtonPost.com | Zach Carter | Posted 06.08.2012 | Politics

PROVIDENCE, R.I. -- Former Wall Street bailout watchdog Neil Barofsky blasted the banking industry on Friday for inflicting a litany of abuses on Amer...

Zach Carter

CFPB Crowdsources Nominations For Key Advisory Posts

HuffingtonPost.com | Zach Carter | Posted 02.23.2012 | Politics

WASHINGTON -- In a significant break with traditional federal policy, the new Consumer Financial Protection Bureau is appealing directly to the public...

Zach Carter

Richard Cordray Recess Appointment May Paradoxically Help Banks

HuffingtonPost.com | Zach Carter | Posted 01.05.2012 | Politics

WASHINGTON -- President Barack Obama's recess appointment of Richard Cordray as Director of the Consumer Financial Protection Bureau has underscored t...

Zach Carter

Progressives' Fundraising Strength Tested By Key Race

HuffingtonPost.com | Zach Carter | Posted 01.04.2012 | Politics

The first major test of the activist progressive fundraising machine for the 2012 elections is developing in North Carolina, where a Republican-engine...

Zach Carter

Newt Gingrich Long Advocated Home Ownership Push Prior To A Reported Freddie Mac $1 Million Payday

HuffingtonPost.com | Zach Carter | Posted 11.17.2011 | Politics

WASHINGTON -- Republican presidential contender Newt Gingrich has been one of the most influential conservative voices advocating the use of home owne...

BofA Pushes Back Against Foreclosure Overhaul

The Huffington Post | Maxwell Strachan | Posted 05.25.2011 | Business

Bank of America CEO Brian Moynihan is pushing back against a government proposal that would force his company to assume responsibility for billions of...

Zach Carter

Foreclosure Protesters Descend On Washington

HuffingtonPost.com | Zach Carter | Posted 05.25.2011 | Politics

WASHINGTON -- Hundreds of protesters from around the country descended on a meeting of all 50 state attorneys general in the nation's capital on Monda...

Zach Carter

Homeowners Demand Criminal Prosecutions In Foreclosure-Fraud Deal

HuffingtonPost.com | Zach Carter | Posted 05.25.2011 | Politics

WASHINGTON -- Fifty state attorneys general and nearly a dozen federal agencies are currently hashing out plans for a multibillion-dollar settlement w...

Multibillion-Dollar Settlement Of Mortgage Cases In The Works

Posted 05.25.2011 | Business

NEW YORK (By Jonathan Stempel) - The Obama administration is trying to push a settlement that could force the largest U.S. banks to pay for reduction...

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.

Zach Carter

Elizabeth Warren Names Major CFPB Regulator

HuffingtonPost.com | Zach Carter | Posted 05.25.2011 | Politics

WASHINGTON -- On Thursday, House Republicans cemented plans to slash the budget for the new Consumer Financial Protection Bureau, setting up a major f...

Bankers Win: No Capitol Hill Action on Mortgage Foreclosure Protection for Two Years

Peter G. Miller | Posted 05.25.2011 | Business
Peter G. Miller

Stashed away in a draw somewhere on Capitol Hill is a simple piece of legislation that would have done much to stop the mortgage mess, robo-signing, unfair foreclosures, and the growing claims against lenders.

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 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.

Financial Fitness and Physical Fitness

Don McNay | Posted 05.25.2011 | Business
Don McNay

Most of us want to be physically fit, but very few of us are. The same holds true with financial security. As my father (and many others) used to say, "A lot of people want to go to heaven but no one wants to die to get there."

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.

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.

The Subprime Swindle and the Foreclosure Fraud Cover-Up

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Fraud in the foreclosure process conceals a second, more massive fraud: the astonishing levels of mortgage fraud perpetrated by subprime lenders during the housing bubble.

Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry

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

Washington failed to act the first time around -- when lenders were engaged in a frenzy of predatory lending. The foreclosure scandal is a second chance for lawmakers to prove they can ferret out the truth.