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 "Center for Public Integrity":

"… basically criminal.” Pollock was featured in a September report by The Center for Public Integrity about former subprime CEOs who are back in the game, developing loans that …"

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 "Law":

"… ago. Yet new cases filed with the department’s Office of Administrative Law Judges have risen by 68 percent in the past five years, with a 134-percent …"

"… tired Labor Department Lawyer who runs the Longshore Claimants’ National Law Center in Washington. “They can’t hold out for another year or two or …"

"… medical care he needed, Bouhout believes. “He might be alive today.” Lawyer Dupree, representing Ratliff’s estate, and Chartis — now known simp …"

"… rallels the underfunding” of the department’s Office of Administrative Law Judges. When insurers don’t pay, claimants’ medical costs are transfe …"

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 "bank":

"… Sept. 15, Lehman Brothers Holdings Inc. filed for Chapter 11, the largest bankruptcy in the nation’s history. The move set off a series of dramatic act …"

"… 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 mar …"

"… tal that Bear Stearns and the other publicly traded Wall Street investment banks had on hand. Days later, Bear was gone, becoming the first investment ba …"

"… nks had on hand. Days later, Bear was gone, becoming the first investment bank to disappear in 2008 under the watch of Cox’s SEC. By the end of the yea …"

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 "bank":

"… Sept. 15, Lehman Brothers Holdings Inc. filed for Chapter 11, the largest bankruptcy in the nation’s history. The move set off a series of dramatic act …"

"… 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 mar …"

"… rs hastened the downfall of Merrill Lynch after the Wall Street investment bank bought it in 2006 for $1.3 billion. He was still running First Frankl …"

"… t assure the quality of the loans we originate.” The next year, federal banking regulators said First Franklin was among the lenders with the highest f …"

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 "Bank of America":

"… t with five major lenders.  A suit unsealed March 7 alleges that Bank of America fraudulently misled borrowers and regulators in order to keep customers ou …"

"… ted.As a condition of accepting $45 billion from the federal bank bailout, Bank of America promised to help move troubled borrowers into the taxpayer subsidized Home …"

"… gory Mackler, formerly an employee of Urban Lending Solutions, the company Bank of America contracted to manage HAMP complaints.Mackler claims the company developed …"

"… were eligible for federally subsidized loan modifications.The suit claims Bank of America:Told borrowers and regulators that a complaint was “under review” whil …"

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 "Troubled Asset Relief Program":

"… U.S. taxpayers.The Congressional Budget Office's latest estimate says the Troubled Asset Relief Program (TARP), which Congress hurried to pass and ex-President George W. Bush sig …"

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 "AIG":

"… behind bars for their role in the mayhem at Lehman Brothers, Bear Stearns, AIG, or Fannie Mae.The New York Times’ White Collar Watch suggests one reaso …"

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 "FDIC":

"… . But WaMu had $188 billion in assets and regulators risked wiping out the FDIC’s $45 billion insurance pool it they hadn’t stepped in, a committee ai …"

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 "Carl Levin":

"… ior executives as a direct result of the subprime meltdown. And today Sen. Carl Levin, the Michigan Democrat who will chair the hearing, sidestepped questions a …"

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 "U.S. Chamber of Commerce":

"… ighting the bonus tax echoed these concerns. In a letter to senators, The U.S. Chamber of Commerce, a leading business lobby in Washington, warned in a letter to senators th …"

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 "AIG":

"… sponsive Politics. …"

"… loyees — many of whom worked in the insurance giant’s financial arm.As AIG CEO Edward Liddy told a House Financial Services subcommittee earlier this …"

"… payment of large bonuses to people in the very unit that caused so much of AIG’s financial trouble does not sit well with the American taxpayer, and fo …"

"… tors and the public learned that $58 billion of the bailout money given to AIG was handed over to foreign banks, as payment on the credit default swaps c …"

Carbon as a commodity

By Marianne Lavelle

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

Excerpts from this story referencing "Kyoto":

"… ance firm in the carbon market that’s already active in Europe under the Kyoto treaty, argues that there are ways the United States could already be cutt …"

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 "AIG":

"… has called for the SEC to suspend the rules, which he argues may have made AIG and Lehman Brothers look worse off than they were. Steve Forbes calls the …"

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 …"