Former subprime executive making risky loans again

By Daniel Wagner

Andy Pollock, who led First Franklin's bad loan factory, is pushing interest-only loans at new firm.

Excerpts from this story referencing "WDB Funding":

"… r out. The veteran subprime executive has been named president and CEO of WDB Funding, the company announced last week. WDB is a national lender that provi …"

"… ly sank Merrill Lynch, which was forced to sell itself to Bank of America. WDB Funding is the third mortgage company Pollock has helped lead since rejoining the …"

"… not qualify for government guarantees because they carry more risk. WDB Funding’s managing partner said he is “ecstatic” to have nabbed Pollock. “ …"

Rising caseload, fewer Labor Department judges triggers painful mix for suffering laborers

By Jim Morris

A federal worker compensation program once viewed as a model now suffers rising caseloads — but fewer judges, triggering frustration.

Excerpts from this story referencing "National Institute":

"… lung disease Work-related lung disease takes a heavy toll in America. The National Institute for Occupational Safety and Health — NIOSH, part of the Centers for Dise …"

Ex-SEC chief now helps companies navigate post-meltdown reforms

By Lauren Kyger, Alison Fitzgerald and John Dunbar

Former regulators profit from their experience with jobs, book deals and speaking fees.

Excerpts from this story referencing "banker":

"… ff a series of dramatic actions in Washington, D.C., and on Wall Street as bankers and regulators sought to avoid a shutdown of the global economy. To mark …"

"… nization called The Systemic Risk Council. The group of former regulators, bankers and academics is calling for stringent financial regulations, including h …"

"… hose who saw the Treasury and the Federal Reserve as looking out for their banker buddies while Sheila was looking out for them. The FDIC resolved 375  …"

Subprime lending execs back in business five years after crash

By Daniel Wagner

Executives from all of the top 25 subprime lending firms are working in the mortgage business five years later.

Excerpts from this story referencing "Finance":

"… be, says Guy Cecala, publisher of the trade magazine Inside Mortgage Finance. "You're going to see a little more risk coming into the system" Cecala sa …"

"… n 2000. His boss at New Penn is CEO Jerry Schiano, who founded Wilmington Finance before the crisis. Schiano ran Wilmington until 2007, despite selling it t …"

"… lmington until 2007, despite selling it to AIG subsidiary American General Finance for $121 million in 2003. In 2010, Wilmington and another of AIG’s compa …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

Excerpts from this story referencing "JP Morgan Chase":

"… several federal agencies included Bank of America and Citibank, as well as JP Morgan Chase, Wells Fargo, and Ally Financial Inc. Although the formal papers have yet …"

Reform reading: Fed reveals details about $3 trillion in emergency loans

By Julie Vorman

A roundup of news and commentary to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law....

Excerpts from this story referencing "UBS AG":

"… cott Lanman reported. Other beneficiaries were U.S. units of foreign banks UBS AG, Societe Generale and Dresdner Bank AG. General Electric Co., meanwhile, t …"

Recommended reading: No prosecutions, no extra budget, so why not start a hedge fund?

By Julie Vorman

A roundup of recent news articles to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law ...

Excerpts from this story referencing "Enron":

"… lier this year in the case of Jeff Skilling, the disgraced former chief of Enron, which collapsed amid accounting fraud. That high court ruling narrowed th …"

WaMu bank executives aware of rampant fraud

By David Heath

WaMu bank executives aware of rampant fraud but failed to act

Excerpts from this story referencing "bank executives":

"… One of the central unanswered questions of the financial crisis is whether bank executives knew fraud was rampant within their mortgage loans.A Senate committee tomo …"

WaMu bank executives aware of rampant fraud

By David Heath

WaMu executives knew of fraud yet they failed to act, Senate investigation finds

Excerpts from this story referencing "bank executives":

"… One of the central unanswered questions of the financial crisis is whether bank executives knew fraud was rampant within their mortgage loans.A Senate committee tomo …"

Another Wall Street bonus tax falters in Congress

By Ben Protess

Bill faces industry opposition and skepticism from New York senators

Excerpts from this story referencing "Barbara Boxer":

"… attempt is a measure authored by Democratic Sens. Jim Webb of Virginia and Barbara Boxer of California. It would impose a one-time 50 percent tax on 2009 bonuses o …"

Top derivatives regulator: 'We haven’t filled the gaps'

By Ben Protess and Lagan Sebert

Top commodities regulator says U.S. financial system still 'vulnerable'

Excerpts from this story referencing "JPMorgan Chase":

"… t by the U.S. Comptroller of the Currency.  Those five banks — JPMorgan Chase, Goldman, Bank of America, Citibank and Wells Fargo — hold about 97 perc …"

No. 18 of The Subprime 25: American General Finance Inc./American International Group Inc. (AIG)

Total high-interest loans 2005-2007: At least $21.8 billion

Excerpts from this story referencing "AIG":

"… Federal bailout money received: The government has thus far approved for AIG about $187 billion in various forms of federal loans, guarantees, and dire …"

"… oans for more than 80 years. In August 2001, American International Group (AIG) acquired the company. AIG is known as an insurance company and dealer in …"

"… . In August 2001, American International Group (AIG) acquired the company. AIG is known as an insurance company and dealer in complex credit derivatives, …"

"… , American General Finance has been owned by American International Group (AIG). In addition, Wilmington Finance Inc. and MorEquity were both subprime le …"

Obama top recipient of AIG's hefty campaign contributions

By Kat Aaron

The American International Group, more commonly known as AIG, has become the poster child for the financial bailout. The company has receive

Excerpts from this story referencing "American International Group":

"… i, Rudolph W. (R-NY) — $13,200Source: Center for Responsive Politics. …"

Carbon as a commodity

By Marianne Lavelle

Can a $2 trillion 'cap and trade' market fight climate change?

Excerpts from this story referencing "JP Morgan Chase":

"… of their stake in climate policy. Wall Street banks like Goldman Sachs and JP Morgan Chase, insurance companies like AIG and private equity firms had virtually no re …"

Counting on a new accounting

By Marianne Lavelle

It has to be one of the more obscure subjects ever addressed in a news release from a major presidential campaign. John McCain — who two wee

Excerpts from this story referencing "Newt Gingrich":

"… bill on Monday believe the culprit is mark-to-market. Former House Speaker Newt Gingrich has called for the SEC to suspend the rules, which he argues may have made …"

Defining the "fundamentals of the American economy"

By Kat Aaron

On September 15 — the day Lehman Brothers filed for bankruptcy protection, Merrill Lynch was purchased by Bank of America, and AIG faltered

Excerpts from this story referencing "AIG":

"… bankruptcy protection, Merrill Lynch was purchased by Bank of America, and AIG faltered — John McCain said in a speech that “the fundamentals of the …"