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 "WMC Mortgage Corp.":

"… r bank loans. Also on the list is Amy Brandt, who at age 31 became CEO of WMC Mortgage Corp., then owned by General Electric. Brandt‘s properties include a $2 m …"

Ex-Wall Street chieftains living large in post-meltdown world

By Alison Fitzgerald

CEOs of banks that fueled the subprime crisis that led to the economic meltdown largely avoid consequences.

Excerpts from this story referencing "Wells Fargo":

"… O of Wachovia, which nearly collapsed 11 days after Lehman and was sold to Wells Fargo at the direction of federal regulators. When he’s looking to get out of …"

"… ica’s assets have ballooned to $2.13 trillion from $1.72 trillion, while Wells Fargo more than doubled to $1.44 trillion from $609 billion five years ago. Gold …"

"… ional Group and the sales of Merrill Lynch to Bank of America, Wachovia to Wells Fargo and Washington Mutual to JPMorgan, thousands of hours and millions of page …"

Yellen as Fed chair would be tougher on banks

By Alison Fitzgerald

Janet Yellen, President Obama’s intended nominee for Federal reserve chief, may prove to be tougher on banks.

Excerpts from this story referencing "economist":

"… ad map of what bankers, investors and markets can expect from the academic economist now ascending to one of Washington’s most influential posts.    …"

"… . The diminutive vice chairwoman of the U.S. central bank — an academic economist who is married to a Nobel Prize-winning economist — is known to be a for …"

"… ral bank — an academic economist who is married to a Nobel Prize-winning economist — is known to be a formidable intellect and a force on the interest rate …"

"… r of the central bank — are less well-known. “Her strengths are as an economist and thinking about macroeconomic policy and monetary policy,” said Tony …"

Bailed-out banks, Freddie Mac, AIG gave $6 million to 2008 conventions

By John Dunbar and Michael Beckel

Corporate donors to 2008 party conventions included financial institutions bailed out by government.

Excerpts from this story referencing "American International Group":

"… big donors from the 2008 event that won’t be giving this time around — American International Group and Freddie Mac.The two institutions together gave $1 million to the Repub …"

Wisconsin Gov. Walker’s conservative media appearances pay off as he raises millions from out-of-state donors

By Kate Golden and Amy Karon

Wisconsin Gov. Scott Walker's national conservative media appearances have helped him to raise millions from out-of-state donors

Excerpts from this story referencing "American International Group":

"… side Maurice “Hank” Greenberg, the founder of financial services giant American International Group.Liberal-leaning media, such as Madison’s The Capital Times newspaper and …"

Walker’s official work time declines as national fame grows

By Kate Golden and Amy Karon

Wisconsin governor's official work time declines as national fame grows.

Excerpts from this story referencing "American International Group":

"… er in New York hosted by Maurice Greenberg, founder of the insurance giant American International Group.“The governor is a public servant,” said Dean Pagani, who covers guber …"

TARP helped stabilize financial institutions, but future success questioned

By Laurel Adams

The government’s Troubled Asset Relief Program, established to stabilize weak financial institutions, faces challenges in getting repayments

Excerpts from this story referencing "Bush":

"… its work, according to a Government Accountability Office report.President Bush started TARP in the 2008 financial crisis, allowing the U.S. Treasury to p …"

The end of Lehman, part 3

By Ben Hallman

In Parts 1 and 2 of this series, Michael Hudson wrote about how Lehman was a leader in turning what had been a backwater market for subprime

Excerpts from this story referencing "Bank":

"… way, and the intervening months have proved them right. A few months ago, Bank of America said it wrongly classified $10.7 billion in repo agreements as …"

Will financial reform melt the ICE Trust monopoly?

Wall Street has taken its share of licks in the past three years, but the big banks haven’t forgotten how to hedge their bets. ...

Excerpts from this story referencing "economist":

"… onship with member banks.Is ICE Trust a dealers-only club?Robert Litan, an economist at the Brookings Institution, says he worries that the broker-dealer membe …"

Even with U.S. oversight, AIG keeps secrets

By Ben Protess

Government overseers, all from Wall Street, resist disclosure

Excerpts from this story referencing "Securities Industry and Financial Markets Association":

"… that Layton also worked for a financial industry lobbying powerhouse, the Securities Industry and Financial Markets Association, or SIFMA. The association is one of several trade groups rallying against …"

Why Fannie and Freddie continue to cost taxpayers billions

By Ben Protess

Treasury secretary to testify Tuesday on mortgage giants, Fannie Mae and Freddi Mac

Excerpts from this story referencing "Bush":

"… ly in response to a series of federal rules crafted during the Clinton and Bush administrations. The rules, adopted by the Department of Housing and Urban …"

"… t the companies lacked sufficient funds to cover their pending payouts.The Bush administration rescued the companies with the promise of big government li …"

What's still hidden in AIG's files?

By Ben Protess

Company trustees, lawmakers resist calls for more disclosure

Excerpts from this story referencing "American International Group":

"… ion has focused on one key outstanding question: Whether the giant insurer American International Group committed fraud in the run-up to its $182 billion bailout.The records of A …"

The roots of the financial crisis: Who is to blame?

By John Dunbar and David Donald

Banks that financed subprime industry collecting billions in bailouts

Excerpts from this story referencing "Bush":

"… k bailout programs. Bailout Recipients On Oct. 3, 2008, former President Bush signed the $700 billion Emergency Economic Stabilization Act of 2008& …"

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 "Chris Dodd":

"… ix other presidential candidates are among the top ten for the 2008 cycle: Chris Dodd, Hillary Clinton, John McCain, Mitt Romney, Joseph Biden, and Rudy Giulian …"

The climate change lobby explosion

By Marianne Lavelle

Will thousands of lobbyists imperil action on global warming?

Excerpts from this story referencing "Louisiana":

"… at, to former House Appropriations Committee Chairman Robert Livingston, a Louisiana Republican. Among the former Capitol Hill staffers who are engaged on glob …"

Oversight fails to keep pace with a changed market

By The Center for Public Integrity

Risky trades expand quickly with no oversight from SEC

Excerpts from this story referencing "American International Group":

"… grew markedly. In August, before the government bailed out insurance giant American International Group, it was revealed the company had sold $440 billion in shaky credit-default …"

More corporations pay less in taxes

By The Center for Public Integrity

Corporate tax payments accounted for 23 percent of all federal tax revenue in 1960. By 2007 that figure had dropped to just 14 percent

Excerpts from this story referencing "American International Group":

"… cial giants turning to U.S. taxpayers for costly bailouts — for example, American International Group, which recently received up to $123 billion in Treasury assistance — had …"

The party's parties

By Meredith O'Brien

WASHINGTON, July 8, 2004 — At this year's Democratic national convention in Boston, special interests are planning and paying for a reported

Excerpts from this story referencing "Massachusetts":

"… the gold-domed State House on Beacon Hill and the hometown favorites, the Massachusetts delegation, in the grand Boston Public Library.Others will be treated to u …"

"… in the city’s high-end shopping area (Newbury Street), and the gala for Massachusetts Senator Ted Kennedy at Boston Symphony Hall.The Creative Coalition—a gro …"

"… celebrity guests. Kennedy, along with Representative Mike Capuano, also of Massachusetts, is scheduled to make an appearance at the Biotechnology Industry Organiza …"

"… akers, including Clinton, that’s expected to be attended by 2,000 people.Massachusetts Congressman Bill Delahunt, looking to capitalize on the party going, is ho …"

The Bush 100

By Derrick Wetherell

WASHINGTON, January 14, 2002 — The average net worth of the individual members of the Bush cabinet, including the President and Vice Preside

Excerpts from this story referencing "accountant":

"… between $5 million and $10 million to their foundation, according to their accountant, Terry Robbins.The foundation’s 1998 Form 990-PF, which all private foun …"

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 "Benefits Review Board":

"… ity. The decision was affirmed two years later by the Labor Department’s Benefits Review Board. Durbin never returned to work. He and his wife, Susan, moved from Califo …"

Wall Street favorite Rep. Garrett flirts with default

By Alison Fitzgerald

Will investment firms that deal in U.S. Treasury securities regret their support of GOP congressmen who are flirting with default?

Behind the story: how the Center revisited financial meltdown reporting

By Jackie Hryncewich

Senior Finance Reporter Alison Fitzgerald offers an insider's perspective on our "After the Meltdown" investigation.

OPINION: Health insurance 'producers' about to be on life support

By Wendell Potter

Health insurance 'producers' help raise the cost of insurance plans

ANALYSIS: Shareholders raising ruckus about CEO pay

By Wendell Potter

Big pay raises and parting bonuses increasingly raising ire of shareholders.

Excerpts from this story referencing "Evan Bayh":

"… two WellPoint board members, including Susan Bayh, the wife of former Sen. Evan Bayh, D-Ind., because of “high risk political spending.”Another group of ac …"

FACT CHECK: Santorum-boosting PAC slams Romney, Obama

By FactCheck.Org

Red, White and Blue PAC launches misleading TV ads in Illinois and Louisiana attacking Romney and Obama on debt, taxes and oil

Excerpts from this story referencing "Massachusetts":

"… can taxpayer.The ad also inaccurately states that as governor, Romney left Massachusetts “over $1 billion in debt.” That’s the high end of a projected budget …"

"… ected to get $81.3 billion during the current fiscal year.Did Romney leave Massachusetts in debt?The ad also claims Romney “raised job-killing taxes and fees by …"

"… laims Romney “raised job-killing taxes and fees by $700 million, leaving Massachusetts over $1 billion in debt.”We’ve written many times about …"

"… ere is some disagreement over the $700 million figure cited in the ad. The Massachusetts Department of Administration and Finance put the fee total at $2 …"

ANALYSIS: Lack of leadership at the top of corporate ladder

By Wendell Potter

Misplaced values among health inusurers and investment banks.

Energy-backed firms award bonuses, file bankruptcy

By Ronnie Greene and Matthew Mosk

The DOE financed green energy companies that later fell into bankruptcy — but not before the firms awarded big executive bonuses

FACT CHECK: Crossroads GPS twists facts in Senate ads

By FactCheck.Org

Conservative group makes leaping statements in two ads attacking politicians

Excerpts from this story referencing "Elizabeth Warren":

"… ut and the federal health care law:The well-heeled conservative group says Elizabeth Warren was appointed to oversee how tax dollars were spent for bank bailouts that …"

"… cratic Senate candidates. In this article, we’ll look at the ads against Elizabeth Warren of Massachusetts and Sen. Ben Nelson of Nebraska. Again, distortions aboun …"

"… f Massachusetts and Sen. Ben Nelson of Nebraska. Again, distortions abound.Elizabeth Warren’s Bailout RoleWarren, a Harvard Law School professor, is running for the …"

"… ir families or the economy as a whole,’ Harvard University law professor Elizabeth Warren told Treasury Secretary Timothy Geithner during a hearing on Capitol Hill. …"

As they lobby for a tax holiday, some big multinational players say they've got plenty of cash on hand

By John Aloysius Farrell and Aaron Mehta

Big corporations seeking tax holiday are sitting on billions in U.S.

Excerpts from this story referencing "economist":

"… a paper for the nonpartisan New America Foundation, cited by WIN America, economist Laura D’Andrea Tyson and two Berkeley associates say that the trickle-do …"

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