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.

Center 'Meltdown' series continues to expose abuses that could lead to the next economic crisis

By Bill Buzenberg

Four years after answering 'Who's behind the financial meltdown,' we follow up and see where those people are now.

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 "George W. Bush":

"… llion, the largest penalty in SEC history. Cox, an appointee of President George W. Bush, left the SEC when President Barack Obama took office in early 2009. He m …"

"… eich was later handed Gilleran’s job as director of the OTS by President George W. Bush in 2005. Reich retired in 2009 after 49 years in the banking industry. He …"

"… s in booking high level speakers including Madeleine Albright, Tony Blair, George W. Bush, Sarah Palin and Rudy Giuliani. Greenspan was reportedly paid $250,000 to …"

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 …"

Bear Stearns mortgage executives have plum jobs on Wall Street

By Lauren Kyger and Alison Fitzgerald

Executives from the mortgage finance division that helped sink Bear Stearns have similar jobs at major Wall Street banks.

Excerpts from this story referencing "Bank of America":

"… r jobs at the most powerful banks on Wall Street: JPMorgan, Goldman Sachs, Bank of America and Deutsche Bank. The fact they were able to emerge unscathed from a fin …"

"… n in the affidavit. These flaws are entirely unacceptable to me." ResCap, Bank of America, JPMorgan Chase, Wells Fargo, and Citigroup settled for $25 billion&n …"

"… e in the tony New York City suburb of Port Washington and work together at Bank of America in the divisions that issue mortgage-backed securities and collateralized …"

"… Os in 2006 alone. He’s now head of mortgages and securitized products at Bank of America. Silverstein, once a senior managing director at Bear and co-head of mort …"

Dodd's failed presidential campaign fixes its books

By Michael Beckel

After being fined by the FEC, Democrat Chris Dodd's 2008 presidential campaign files amended documents.

Capitalism and Corrections: Wall Street loan for youth inmate rehab

By Susan Ferriss

A Goldman Sachs loan to NYC will pay for a new youth offender program, and deliver a profit or loss depending on the program's success.

Report: Countrywide won influence with discounts

By The Associated Press

Subprime lender Countrywide bought influence of Washington elite with mortgage discounts

Excerpts from this story referencing "Bank of America":

"… volume of Countrywide's subprime mortgages. Countrywide was taken over by Bank of America in January 2008, relieving the financial services industry and regulators …"

"… er chairman of the Oversight Committee. Towns issued the first subpoena to Bank of America for Countrywide documents, and current Chairman Darrell Issa, R-Calif., su …"

"… re documents. The committee said that in responding to the Towns subpoena, Bank of America left out documents related to Towns' loan.—Rep. Elton Gallegly, R-Calif. …"

Finance industry makes up nearly half of pro-Romney super PAC’s donations

By Alexandra Duszak and Rachael Marcus

America's wealthiest investors fill coffers of pro-Romney super PAC.

Excerpts from this story referencing "Robert Mercer":

"… rding to multiple news reports. He also could not be reached for comment. Robert Mercer, another $1 million donor, is president and CEO of Renaissance Technologie …"

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 …"

Feds investigating possible fraud at GE’s former subprime unit

By Michael Hudson and E. Scott Reckard

Federal investigators looking into possible fraud at GE's now-closed subprime lender

Excerpts from this story referencing "federal prosecutor":

"… hese days,” said Orange County defense attorney David Wiechert, a former federal prosecutor.This story was the result of a reporting partnership between iWatch News a …"

Ex-WaMu worker claims he was shunned for refusing to push toxic loans on borrowers

By Michael Hudson

Ex-WaMu employee says he fought pressure to sell toxic loans

Excerpts from this story referencing "high-earning salesman":

"… ployed by WaMu.”‘Flagship loan’Greg Saffer put in several years as a high-earning salesman at a smaller lender in Los Angeles, Citizens Mortgage, before he took a jo …"

Senate committee finds most 'trapped' offshore income is already in U.S.

By John Aloysius Farrell

Senate committee finds most 'trapped' offshore income from Google, Microsoft already in U.S.

Excerpts from this story referencing "Apple":

"… n U.S. multinationals and found that 27 of the cash-flush firms, including Apple, Google and Microsoft, had invested almost $250 billion in the United Stat …"

"… iday, Levin noted, have brought home almost all their “trapped” funds. Apple, Google and Microsoft, for example, have brought back from 76 to 100 perce …"

Whistleblowers ignored, punished by lenders, dozens of former employees say

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Excerpts from this story referencing "bank failure":

"… r 2008, a $300 billion institution buried in bad loans. It was the largest bank failure in American history — and one of the biggest casualties of risky practic …"

Worst may be yet to come in foreclosure crisis, study says

Millions more homes at 'imminent risk of default' study says

Obama housing plan gets faint praise

The president outlined a new plan to help homeowners, GOP presidential candidates rely on free market

GOP candidates in foreclosure capital say government not the solution to crisis

By Michael Hudson

Republican candidates in Nevada say foreclosure mess will go away if government stays out of it

Countrywide loan underwriter found herself in ‘dangerous territory’

By Michael Hudson

Countrywide underwriter learns that eventually, giants really do fall

S&P not shy about using its clout politically

By Michael Hudson and Aaron Mehta

S&P and other credit rating firms wield as much political clout as financial

Excerpts from this story referencing "Al Franken":

"… gulation. “They knew that their profits were at stake.”Last year, Sen. Al Franken, a Minnesota Democrat, authored a bill that would have created a governmen …"

A roundup of investigations in the three years since the last market crash

By Shirley Gao

iWatch News reports on the financial crisis from 2008 to now

Excerpts from this story referencing "Ameriquest Mortgage":

"… rywide Financial Corp, responsible for at least $97.2 billion, followed by Ameriquest Mortgage Co./ACC Capital Holdings Corp with at least $80.6 billion and New Century …"

As housing crisis festers, mortgage servicers spend $8 million on political contributions

By Michael Hudson and Aaron Mehta

Mortgage servicers pony up $8 million in political donations as housing crisis festers

2012 election + weak housing market = new White House policies?

By Shirley Gao and Julie Vorman

The fast-approaching 2012 election has the Obama administration eyeing new policies to breathe life into housing market

Dodd-Frank author is proudest of "skin in the game" requirement for mortgage securitizers

By Shirley Gao

Rep. Barney Frank defends Dodd-Frank law as first anniversary nears

Mortgage servicing standards at the top of consumer agency's agenda

By Julie Vorman and Shirley Gao

New consumer agency sets mortgage servicing standards as a top priority

“Go tell a Republican,” Rep. Frank says to complaints that Congress has failed to curb foreclosures

By Julie Vorman

Foreclosure complaints? "Go tell a Republican" says Rep. Frank

Excerpts from this story referencing "Citigroup":

"… reclosure practices with 14 big banks, including JPMorgan Chase & Co., Citigroup, Wells Fargo and Bank of America. …"

SEC aims to shed more light on murky world of derivatives

By Shirley Gao and Julie Vorman

SEC aims to shed more light on murky world of derivatives

Excerpts from this story referencing "bank":

"… n Sachs paid $550 million to settle the SEC's civil fraud charges that the bank should have told investors in a collateralized debt obligation (CDO) that …"

"… erve’s decision to cap debit swipe fees at 21 cents may be a big win for banks, but says little about how financial reform efforts as a whole are succee …"

"… d not cause the financial crisis and have “nothing to do with making the banking system any safer, just about punishing the banks,” Gandel writes. The …"

"… g to do with making the banking system any safer, just about punishing the banks,” Gandel writes. The Fed ‘s final rule also allows banks to add five …"

Senior Treasury Dept. official is latest financial regulator to resign

By Julie Vorman

Yet another senior vacancy among banking regulators

Excerpts from this story referencing "Citigroup":

"… head dinner were the heads of JPMorgan Chase & Co., Goldman Sachs and Citigroup, reports the New York Times’  Dealbook.  “It would be bad fo …"

Democrats demand ouster of regulator for not being tough enough with banks

By Shirley Gao

Democrats demand ouster of regulator who doesn't see need for higher capital requirements

Excerpts from this story referencing "Michigan":

"… Sens. Jack Reed of Rhode Island, Jeff Merkely of Oregon, and Carl Levin of Michigan in calling for Walsh's removal after he said in a speech that current capi …"

Financial reform this week: How to handle a Too Big To Fail bank near collapse

By Julie Vorman

FDIC panel tackles tools needed to dismember biggest banks

Reform reading: Will Warren aide fill top job at new consumer agency?

By Shirley Gao

Reform reading: Will Warren aide fill top job at new consumer agency?

Excerpts from this story referencing "Deutsche Bank AG":

"… ay nominate Raj Date, a former banker with Capital One Financial Corp. and Deutsche Bank AG, to head the Consumer Financial Protection Bureau, Bloomberg News and othe …"

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