Subprime Crisis

Mortgage Scandal: Dodd Denies Wrongdoing Again

AP | Posted 06.23.2008 | Politics

Read More: Subprime Crisis, Subprime Mortgage Meltdown, Dodd Mortgage, Countrywide, Subprime Meltdown, Dodd Countrywide, Dodd, Chris Dodd, Dodd Mortage, Mortgage Crisis, Politics News

DANBURY, Conn. — Sen. Christopher Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congr...

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Late Loan Payments Causing New Bank Crisis

Washington Post | David Cho | Posted 06.22.2008 | Business

Read More: Subprime Crisis, Home Loan Payments, Banks, Late Home Loan Payments, Credit Crunch, New Bank Crisis, Business News

Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in ...

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FBI Increases What Already Is the Highest Incarceration Rate in the World

Martin Varsavsky | Posted 06.20.2008 | Business

Read More: Subprime Crisis, FBI Director Robert Mueller, Subprime Arrests, Subprime Mortgages, Subprime Lending, Business News
Martin Varsavsky

If people are going to jail for the subprime scandal, how about starting with the people at the Federal Reserve who were asleep at the wheel while the overlending took place?

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Most say US on wrong track: AP-Ipsos poll

AP | TOM RAUM | Posted 06.19.2008 | Politics

Read More: AP Poll, US Dissatisfaction, AP Polling, Subprime Crisis, Housing Crisis, Iraq War, Fuel Crisis, Gas Prices, Politics News

WASHINGTON — Wherever the nation should be headed, this isn't it. The number of Americans who believe the country is moving in the wrong direct...

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Bernanke urges more action to stem home foreclosure crisis

AP | JEANNINE AVERSA | Posted 05.05.2008 | Business

Read More: Ben Bernanke, Federal Reserve, Congress, Subprime Crisis, Congress Subprime Crisis Action, Business News

WASHINGTON — A rising tide of late mortgage payments and home foreclosures poses considerable dangers to the national economy, Federal Reserve C...

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Fed task force eyes lenders and Wall Street in subprime mess

AP | TOM HAYS | Posted 05.05.2008 | Business

Read More: Subprime Crisis, Federal Subprime Task Force, Subprime Fallout, Wall Street, Business News

NEW YORK — Federal authorities, responding to the subprime-mortgage crisis, have formed a task force to determine if lenders or Wall Street firm...

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British Banking System To Receive Unprecedented $100 Billion Bailout

London Times | Francis Elliott | Posted 04.20.2008 | Business

Read More: Subprime Crisis, British Bank Bailout, British Bailout, British Banks, Bank of England, Business News

Alistair Darling is preparing to announce an unprecedented £50bn bailout of Britain's banking system in an effort to save the housing market from col...

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Time For Bank CEOs Who Blew It To Step Down

Henry Blodget | Posted 04.15.2008 | Business

Read More: US Economy, Bush Economy, Investment Banks, U.S. Economy, Subprime Crisis, Subprime Mortgages, Subprime Mortgage Crisis, Economy, Ceos, Subprime Loan Crisis, Wachovia, Ken Thompson, Business News
Henry Blodget

Unless forcefully shown the doors, CEOs seem to show no willingness to accept real responsibility when things go bad.

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Report: Credit Suisse May Announce Further Writedowns Of Up To $5 Billion

Boston Globe | Posted 04.13.2008 | Business

Read More: Subprime Crisis, Financial Crisis, Credit Suisse Crisis, Swiss Bank, Credit Suisse, Credit Suisse Write Downs, Business News

Credit Suisse could announce further writedowns of up to 5 billion Swiss francs ($4.99 billion) when it posts its first-quarter results later this mon...

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It Sure Looks Like We're In a Recession

Hale "Bonddad" Stewart | Posted 04.03.2008 | Business

Read More: Economy, Subprime Crisis, Economic Recession, Subprime Mortgage Crisis, Mortgage Crisis, Recession Fears, Financial Crisis, Federal Reserve, 2008 Recession, Credit Crisis, Ben Bernanke, Recession Watch, Bernanke Testimony, Housing Crisis, Recession, U.S. Economy, Business News
Hale

Putting all of the factors together we get a very disturbing picture. The amount of short-term credit is decreasing and the cost of making these loans is increasing.

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Effort to Save Bear Stearns Must be Matched by Effort to Save Homeowners

Sen. Robert Menendez | Posted 04.02.2008 | Politics

Read More: Subprime Crisis, Housing Market, Subprime Mortgages, Bear Stearns Bailout, Subprime Mortgage Crisis, Bear Stearns Buyout, Foreclosure, Bear Stearns, Housing Crisis, Politics News
Sen. Robert Menendez

A full year into the subprime mortgage crisis, the administration has done nothing but hit the snooze button as 20,000 Americans watch their dreams of homeownership go up in smoke every week.

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Frauds R' Us: The Hank Paulson Regulatory Revue

Rev. Peter Laarman | Posted 03.31.2008 | Politics

Read More: Liquidity, Subprime Crisis, Paulson, Private Equity, Financial Regulation, FInancial Markets, Politics News
Rev. Peter Laarman

My skin started to quiver when our Treasury secretary, Mr. Henry "Hank" Paulson, late of Goldman Sachs, rolled out his financial markets reform package over this past weekend.

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The Paulson Plan: Doing What He Wanted To Do Anyway

Ian Welsh | Posted 03.31.2008 | Business

Read More: Subprime Crisis, Federal Reserve, Leverage, Paulson, Business News
Ian Welsh

Ultimately, Paulson's plan remains "shock therapy" -- wait for a shock, in this case the market collapse, then do what you wanted to do anyway, but couldn't get through in normal times.

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Some US Homes Worth Less Than Their Copper Pipes

Reuters | Jason Szep | Posted 03.31.2008 | Business

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Shards of broken glass outside the basement window of 31 Vine Street hint at the destruction inside the three-story home. Thieves smashed the window ...

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McCain Guru Linked To Subprime Crisis

Politico | Posted 03.29.2008 | Politics

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The general co-chairman of John McCain's presidential campaign, former Sen. Phil Gramm (R-Texas), led the charge in 1999 to repeal a Depression-era ba...

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McCain Guru Linked To Subprime Crisis

Politico | Posted 03.29.2008 | Politics

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The general co-chairman of John McCain's presidential campaign, former Sen. Phil Gramm (R-Texas), led the charge in 1999 to repeal a Depression-era ba...

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Inquiry Assails Accounting Firm In Mortgage Lender's Fall

New York Times | VIKAS BAJAJ | Posted 03.27.2008 | Business

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A sweeping five-month investigation into the collapse of one of the nation's largest subprime lenders points a finger at a possible new culprit in the...

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How Much Is Our Government To Blame For Economic Freefall?

Wall Street Journal | GREG IP, JAMES R. HAGERTY and JONATHAN KARP | Posted 03.19.2008 | Business

Read More: Ecomonic Recession, Economic Slowdown, Recession, Subprime Crisis, Financial Institutions, Housing Bubble, Business News

As the falling housing market shakes financial institutions and pummels Americans in an election year, the nation's economic woes have surged to the t...

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Bernanke Calls for More Mortgage Relief

AP | JEANNINE AVERSA | Posted 03.04.2008 | Business

Read More: U.S. Economy, Subprime Crisis, Subprime Mortgages, Foreclosure, Recession Fears, Recession, Subprime Loans, Federal Reserve, Ben Bernanke, Homeowners, Credit Crunch, Housing Market, Business News

WASHINGTON — Battling a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke called Tuesday for additional relief and urge...

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HSBC's American Subprime Loan Write-Offs Hit $51 Million A Day

Times Online | Patrick Hosking | Posted 03.03.2008 | Business

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HSBC has stepped up the rate at which it writes off loans to poor Americans to an unprecedented $51 million (£25.7 million) a day as the British bank...

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Five Reasons To Save The Dollar

Eben Esterhuizen | Posted 03.03.2008 | Business

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Eben Esterhuizen

Financial firms have so far announced losses totaling around $160 billion, and rhere is more bad news to come and central bankers know it.

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Clinton Issues Economic Plan

AP | BETH FOUHY | Posted 02.18.2008 | Business

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MILWAUKEE — Democrat Hillary Rodham Clinton's campaign released a 13-page blueprint for fixing the economy Monday, detailing the former first la...

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Moody's Considering Changes To Its Rating System

CNN | Posted 02.04.2008 | Business

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Moody's Investors Services said Monday it is considering changes in its rating system, including how it appraises mortgage-related securities, which ...

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Who Benefits From The Subprime Crisis?

New York Times | Stephen J. Dubner | Posted 02.04.2008 | Business

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The parties who are suffering from the subprime crisis are vast and varied, as well as in the newspapers every day. One reason the crisis has gotten s...

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Doubts Being Raised About Effectiveness Of Economic Stimulus Package

Financial Times | Jeremy Grant | Posted 02.03.2008 | Business

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Only 11 days after the White House and House of Representatives agreed a $150bn (€100bn, £76bn) economic stimulus package for the US economy, a Sen...

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