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 …"

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 "insurance giant":

"… f Lehman early Monday, Sept. 15, and ended with the $80 billion bailout of insurance giant American International Group and the sales of Merrill Lynch to Bank of Ame …"

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 "insurance giant":

"… d credit default swaps — a type of derivative — caused the collapse of insurance giant American International Group. Post-crisis rules now require standard deri …"

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 "media outlets":

"… urs with media and granted interviews to at least 115 outlets. But not all media outlets had easy access to the governor.“Gov. Walker skips interviews, does NYC …"

"… winter when the governor was scheduling year-end interviews with many news media outlets — a common practice — Walker seemed to single out his paper for reject …"

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 "Scott Walker":

"… dison or its affiliates. …"

"… groups outside the state.On Jan. 28, 2011, two weeks before Wisconsin Gov. Scott Walker unveiled his plan to slash public employee unions’ powers, he dined at t …"

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 "Emergency Economic Stabilization Act":

"… ard. GAO said Treasury did not do this in seven cases.FAST FACT: Under the Emergency Economic Stabilization Act of 2008, the GAO must update Congress on the performance of TARP every 60 …"

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 "law":

"… teen months later, after an exhaustive — and expensive — effort by his law firm, Jenner & Block, Valukas made public his findings in a 2,200-page …"

"… last time that Lee told his story and was ignored. Before the examiner’s lawyers interviewed Lee, Robert Byman, who served as Valukas’s chief of staf …"

"… It was used for nearly a decade, supported by the opinion of counsel at a law firm in London, and either ignored or tacitly approved by accountants at E …"

"… late the balance sheet, he is smoking dope,” Amin said, according to the lawyers present at the interview. Lehman executives also claimed that it wasn …"

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 "American International Group":

"… raded by parties with no control over the underlying debt. Insurance giant American International Group’s exposure to the CDS market brought the company to its knees, leading t …"

Even with U.S. oversight, AIG keeps secrets

By Ben Protess

Government overseers, all from Wall Street, resist disclosure

Excerpts from this story referencing "Steve Israel":

"… nt in the company.Congress also could take action. Earlier this year, Rep. Steve Israel (D-N.Y.) introduced legislation that would force AIG to release its e-mail …"

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 "Washington":

"… stration had promised to reveal its plans for the agencies last month, but Washington’s focus on reforming the banking system pushed them to the bottom of the …"

"… es of precious income.Restructuring the companies thus poses a dilemma for Washington that so far has proven too thorny to tackle: How to protect taxpayers from …"

What's still hidden in AIG's files?

By Ben Protess

Company trustees, lawmakers resist calls for more disclosure

Excerpts from this story referencing "Lloyd Blankfein":

"… special inspector general for the bailout.At the hearing, Angelides asked Lloyd Blankfein, Goldman’s chair and chief executive officer, whether government regulat …"

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 "Tatiana Stead":

"… ” the bank’s Kevin Waetke wrote in an e-mail. Capital One spokeswoman Tatiana Stead responded that GreenPoint’s loans were considered Alt-A, which generally …"

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. …"

The climate change lobby explosion

By Marianne Lavelle

Will thousands of lobbyists imperil action on global warming?

Excerpts from this story referencing "environmental":

"… tly affected by any effort to curb use of fossil fuel. Opposing them: nine environmental groups. But by 2008, when the Senate again considered, and rejected, a bro …"

"… ederal permits to continue emitting carbon dioxide.Good news, bad newsMany environmental advocates, including mainstream groups such as the environmental Defense F …"

"… it Pew Center on Global Climate Change, which has worked to forge business-environmentalist alliances.Chelsea Maxwell, a key former Senate staffer who worked on la …"

"… issue on Capitol Hill. “Five years ago, people saw climate change as an environmental issue, and it really goes beyond that,” Maxwell says. “It’s an energ …"

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 "John Breaux":

"… go for the food.One of the most talked about parties is Louisiana Senator John Breaux’s Caribbean bash, sponsored by more than a dozen media lobbyists, accord …"

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 "executive":

"… diate predecessors, according to a Center for Public Integrity analysis of executive branch personal financial disclosure forms.The Center examined the finance …"

"… undersecretaries, heads of independent agencies, and top officials of the executive office of the president appointed in 2001.The disclosure forms provide a s …"

"… 100 appointees, 34 come from for-profit businesses, 27 were drawn from the executive, legislative and judicial branches of federal, state, and local government …"

"… e Center created an unprecedented searchable database from the data in the executive branch officials disclosure forms, which is available online. On schedule …"

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 "U.S. Department of Labor":

"… the Longshore and Harbor Workers' Compensation Act and administered by the U.S. Department of Labor, the program for decades was regarded as one of the best of its kind, supe …"

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 "Connecticut":

"… ill be Juan Figueroa, president of the Universal Health Care Foundation of Connecticut.Figueroa noted that Cigna is also a member of America’s Health Insurance …"

"… ’s Health Insurance Plans (AHIP), which he said has testified before the Connecticut legislature on behalf of Cigna and other insurers against a bill that woul …"

"… gna and other insurers against a bill that would allow small businesses in Connecticut to buy insurance through the state employee plan.Figueroa and other advoca …"

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

ANALYSIS: Lack of leadership at the top of corporate ladder

By Wendell Potter

Misplaced values among health inusurers and investment banks.

Excerpts from this story referencing "Commonwealth Fund":

"… rowing numbers of Americans — 30 million at last count, according to the Commonwealth Fund — are now finding themselves underinsured.At a leadership retreat I atte …"

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

Excerpts from this story referencing "Joe Biden":

"… rgy grant in August 2009. About one-and-a-half years later, Vice President Joe Biden toured a company plant in Indiana and heralded its taxpayer-supported expa …"

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 "Carl Levin":

"… home to invest in America rather than ask for still another break,” Sen. Carl Levin, D-Mich., chairman of the Senate Permanent Subcommittee on Investigations, …"