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Subprime Loan Crisis

'Buy Here Pay Here' Packages, Sells Subprime Auto Loans To Investors

Posted 01.01.2012 | Business

Auto loan financiers are beginning to adopt a practice from the housing industry that many say played a significant role in the meltdown of the housin...

Big Fails: FDIC Names 2010 Worst Year For Banks Since 1992

washingtonpost.com | David S. Hilzenrath | Posted 05.25.2011 | Business

More banks failed in the United States this year than in any year since 1992, during the savings-and-loan crisis, according to the Federal Deposit Ins...

Treasuryy Department: Subprime Lenders To Get Most Of $75 BillionWe're Paying WHOM to Fix Subprime Mortgages?

Mother Jones | Andy Kroll | Posted 05.25.2011 | Business

The Treasury Department has allocated $75 billion to entice lenders to let beleaguered borrowers stay in their homes. And the companies getting most o...

The Subprime 25: The Top 25 Lenders Responsible For Almost $1 Trillion Of Subprime Loans

Center for Public Integrity | Posted 05.25.2011 | Business

Today, the Center for Public Integrity releases the results of its investigation into the housing crisis, which showed that investment banks, some of ...

Subprime Swindlers Work A New Angle: Rescue Scams

Bloomberg News | Posted 05.25.2011 | Business

In early 2008, Cheryl Ann Montero, a California mortgage broker, held a series of free seminars in the clubhouse of the Lone Tree Golf Course in Contr...

The Two Documents Everyone Should Read to Better Understand the Crisis

William K. Black | Posted 05.25.2011 | Business
William K. Black

The FBI identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence.

Dear Mr. President, I'd Like A Loan

Jon Raymond | Posted 05.25.2011 | Home
Jon Raymond

My business hasn't been doing too well lately. I made some investments which didn't work out. But here's the good part: I have a business partner who lives in Alaska and can see Russia. So I'd be a great help to the global economy.

My Lesson Learned: Simple Tips To Prevent You from Losing Your Shirt

Sheila Tendy | Posted 05.25.2011 | Business
Sheila Tendy

Most sub-prime borrowers know the risk they are taking, but isn't the American dream about home ownership? Credit is the too-easy cure for the sub-prime borrower's eroded self-esteem.

Our Reach Exceeds Our Grasp: The Theory Of Nothingness

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

The more we evolve, study, and add to the storehouse of human information now available to everybody with a socket on the planet, the less we know.

Wall Street Gears For New Pain

Wall Street Journal | LINGLING WEI, RANDALL SMITH | Posted 05.25.2011 | Business

After suffering a beating from their exposure to home loans, banks and securities firms are about to take their lumps from office towers, hotels and o...

Credit Crunch Worries Economists

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The cascading fallout from the subprime loan crisis, barely a cloud on the horizon a year ago, is now viewed by experts as the econ...

Consumer Confidence Lowest In 16 Years

Financial Times | Daniel Pimlott | Posted 05.25.2011 | Business

US consumer confidence dropped to a 16-year low this month, a level that has historically signalled recession. The Reuters/University of Michigan ind...

Recession Fears Dominate Davos

Reuters | Adam Plowright | Posted 05.25.2011 | Business

The annual Davos gathering of the world's political and business elite opened Wednesday, dominated by the deep cut in US interest rates aimed at preve...

Florida Caught In Eye Of Burst Real Estate Bubble

New York Times | Peter S. Goodman | Posted 05.25.2011 | Business

Two years ago, when Eric Feichthaler was elected mayor of this palm-fringed, middle-class city, he figured on spending a lot of time at ribbon-cutting...

Putin? Please. CNBC Names The American Homeowner Person Of The Year

Huffington Post | Michelle Kung | Posted 05.25.2011 | Business

With all respect to Time magazine and their choice of Russian Prez Vladimir Putin as Person Of The Year, CNBC has a different suggestion for the yearl...

Hostile Lawmakers Criticize Fed's Mortgage Plan

Wall Street Journal | DAMIAN PALETTA and JAMES R. HAGERTY | Posted 05.25.2011 | Business

Concerns about the U.S. mortgage crisis and turmoil in global credit markets intensified, with U.S. policy makers seeking to clamp down on the practic...

Greenspan Explains It All: How The Credit Crisis Happened

Wall Street Journal | Alan Greenspan | Posted 05.25.2011 | Business

On Aug. 9, 2007, and the days immediately following, financial markets in much of the world seized up. Virtually overnight the seemingly insatiable de...

Fed Unveils Protective New Home Mortgage Proposal

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

The Federal Reserve unveiled a proposal Tuesday that would give people taking out home mortgages new protections against shady lending practices. The...

Over Half Of Americans Believe We Are In A Recession

CNN | Posted 05.25.2011 | Business

More than half the American public -- 57 percent -- now believe the nation is in a recession, compared to 42 percent who do not, according to new CNN/...

How Goldman Won Big On Mortgage Meltdown

Wall Street Journal | Kate Kelly | Posted 05.25.2011 | Business

The subprime-mortgage crisis has been a financial catastrophe for much of Wall Street. At Goldman Sachs Group Inc., thanks to a tiny group of traders,...

White House Mortgage Meltdown: Bush Gives Out Wrong Hotline Number

Posted 05.25.2011 | Politics

Harried homeowners seeking mortgage relief from a new Bush administration hotline Thursday had to contend with a bit of temporary misdirection from th...

U.S. Mortgage Crisis Rivals '80s S&L Meltdown

Wall Street Journal | GREG IP , MARK WHITEHOUSE and AARON LUCCHETTI | Posted 05.25.2011 | Business

The home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global econom...

Wall Street Firms Under Fire For Aiding Subprime Loan Crisis

New York Times | JENNY ANDERSON, VIKAS BAJAJ | Posted 05.25.2011 | Business

As the subprime loan crisis deepens, Wall Street firms are increasingly coming under scrutiny for their role in selling risky mortgage-related securit...

Bush Officially Announces Plan To Freeze Interest Rates

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

President Bush announced on Thursday a plan to freeze interest rates for five years for hundreds of thousands of strapped homeowners whose mortgages a...

Subprime Crisis Forces UBS To Write Down $10 Billion

AP | ERNST E. ABEGG | Posted 05.25.2011 | Business

Swiss banking giant UBS AG said Monday it will write off a further $10 billion on losses in the U.S. subprime lending market and will raise capital by...