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 "Merrill Lynch":

"… n, a subprime lender whose risky loans to vulnerable consumers nearly sank Merrill Lynch, which was forced to sell itself to Bank of America. WDB Funding is the th …"

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 "Bear Stearns":

"… change Commission, said he was comfortable with the amount of capital that Bear Stearns and the other publicly traded Wall Street investment banks had on hand. D …"

"… tom against China, Dubai and London. The race was over in March 2008 when Bear Stearns, the fifth-largest investment bank in the U.S., nearly collapsed and was s …"

"… rity in early 2008, three of the important events that rattled markets — Bear Stearns, Lehman Brothers and AIG — could have been handled very differently, wit …"

"… e a familiar face as a key decision maker. He had a direct hand in selling Bear Stearns to JPMorgan, letting Lehman Brothers go bankrupt and later bailing out ins …"

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 "Pennsylvania":

"… n its mortgage bonds as ShellyMac. He then purchased New Penn Financial, a Pennsylvania lender. New Penn rose from the ashes of one of American International Grou …"

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 "DOJ":

"… t the health of the funds. Both were acquitted in 2009, and since then the DOJ has declined to criminally charge any top-level Wall Street executives. Th …"

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.

Excerpts from this story referencing "Motion Picture Association of America":

"… he U.S. Senate in 2011 and became the head of the lobbying powerhouse Motion Picture Association of America — accepted taxpayer funds, meaning the FEC automatically audited the cam …"

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 "officer":

"… ortgage crisis began. Mozilo also was banned from ever again serving as an officer or director of a publicly traded company.He also agreed to pay another $45 …"

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 "Goldman Sachs":

"… on, has collected $175,000 from the industry. Wall Street investment bank Goldman Sachs’ employees have given $670,000 to the super PAC. According to the Center …"

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 "federal law":

"… qualified appraisers. But the complaint alleges that the companies skirted federal law by using rookie appraisers lacking certification from the federal governme …"

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

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 "Mortgage":

"… rs as a high-earning salesman at a smaller lender in Los Angeles, Citizens Mortgage, before he took a job in mid-2007 as a Mortgage sales rep at a Washington …"

"… it did on fixed-rate home loans, according to internal company documents. Mortgage investors on Wall Street loved them because their growing loan balanc …"

"… other question.As early as 2006, BusinessWeek had called them “Nightmare Mortgages,” declaring they “might be the riskiest and most complicated home loa …"

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.

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 "finance industry workers":

"… histleblower advocates say weak federal and state laws also helped prevent finance industry workers from being heard. Congress passed tougher laws in the wake of the financia …"

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

Excerpts from this story referencing "mortgage giants":

"… ing to the Federal Housing Finance Agency, the agency that administers the mortgage giants.Under the program, a homeowner with a $200,000, 30-year loan who reduces h …"

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

Excerpts from this story referencing "Mitt Romney":

"… ight course is to let the markets work,” said former Massachussetts Gov. Mitt Romney. Rep. Michele Bachmann of Minnesota had the most impassioned response …"

Countrywide loan underwriter found herself in ‘dangerous territory’

By Michael Hudson

Countrywide underwriter learns that eventually, giants really do fall

Excerpts from this story referencing "Bank of America":

"… And they didn’t care that it was at the expense of other human beings.”Bank of America Corp., which bought Countrywide in 2008, declined to comment on Daniels’ …"

"… ant had indeed fallen, gobbled up at a going-out-of-business-sale price by Bank of America.Since she left Countrywide, Daniels has worked temporary jobs and done som …"

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

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

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

Senior Treasury Dept. official is latest financial regulator to resign

By Julie Vorman

Yet another senior vacancy among banking regulators

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

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

Excerpts from this story referencing "Deven Sharma":

"… l bank.Former Fed Chairman Paul Volcker, Standard & Poor’s President Deven Sharma, MIT economist Simon Johnson, and former Citigroup Inc. Chairman John Reed …"

"… ock senior managing director Peter Fisher, Standard & Poor's President Deven Sharma, ex-Citigroup Chairman John Reed, ex-Fed Chairman Paul Volcker, ex-SEC Cha …"

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?