'Banking Caucus' member aims for Senate

By Alison Fitzgerald

Republican candidate for Senate U.S. Rep. Shelley Moore Capito defends little banks but big banks benefit too.

Excerpts from this story referencing "energy":

"… ed by the Center for Responsive Politics. She also has the support of many energy companies. Capito is not among the top recipients of contributions from th …"

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 "subprime lender":

"… s website. Until 2008, Pollock was president and CEO of First Franklin, a subprime lender whose risky loans to vulnerable consumers nearly sank Merrill Lynch, which …"

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 "Deutsche Bank":

"… has advised big names including Verizon, American Airlines, Intel, Toyota, Deutsche Bank, and others. Cox says he’s worked on Internet tax issues, real estate le …"

"… G’s counterparties — those that were owed — including Goldman Sachs, Deutsche Bank, and Merrill Lynch, were paid face value for their credit default swaps th …"

"… ng to a report in the Financial Times. He made $200,000 speaking at a Deutsche Bank conference, and $100,000 each at the annual meetings of private equity fir …"

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 …"

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 "Deutsche Bank":

"… owerful banks on Wall Street: JPMorgan, Goldman Sachs, Bank of America and Deutsche Bank. The fact they were able to emerge unscathed from a financial crisis that …"

"… attorney didn’t respond to requests for comment.  Renee Calabro, a Deutsche Bank spokeswoman, declined to comment on his current salary. Mayer owns a $3.7 …"

"… 2008 and awarded a nearly identical position. Two years later he jumped to Deutsche Bank, as head of corporate banking and securities in North America. Feds stay …"

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.

Excerpts from this story referencing "Michael Bloomberg":

"… rams for youths locked up at the Rikers Island correctional complex. Mayor Michael Bloomberg’s goal is reducing Rikers’ young offender recidivism rate of more than …"

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 "Senate":

"… Congress and was consulted when the House Financial Services Committee and Senate Banking Committee considered reform of Fannie and Freddie and unfair lendi …"

"… received loan discounts from Countrywide, the report said, were:—Former Senate Banking Committee Chairman Christopher Dodd, D-Conn.—Senate Budget Commi …"

"… re:—Former Senate Banking Committee Chairman Christopher Dodd, D-Conn.—Senate Budget Committee Chairman Kent Conrad, D-N.D.—Mary Jane Collipriest, who …"

"… preferential treatment but knew his loans were handled by the VIP unit.The Senate's ethics committee investigated Dodd and Conrad but did not charge them wi …"

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 "Paul Singer":

"… t the legitimacy of W Spann LLC. Conard could not be reached for comment. Paul Singer, another $1 million donor, is the founder of Elliott Management, a hedge f …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

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 "iWatch News":

"… ans borrowers couldn’t afford.Eight former employees told iWatch News that WMC managers ignored them when they flagged loans supported by misrep …"

"… al prosecutor.This story was the result of a reporting partnership between iWatch News and the Los Angeles Times. Michael Hudson is a staff writer with iWatch Ne …"

"… atch News and the Los Angeles Times. Michael Hudson is a staff writer with iWatch News and E. Scott Reckard is staff writer with the Times. Hudson’s previous r …"

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

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 "Citigroup":

"… ng a growing number of emails and phone messages from people who worked at Citigroup’s subprime lending unit, CitiFinancial. The lender, they told Lee, was u …"

"… e demanded to resolve an employment dispute.”With the pressure building, Citigroup went out of its way to warn other current and former employees to keep qui …"

"… iet about what went on at CitiFinancial, according to Reuters news service.Citigroup, Reuters said, hired a famed litigator “to help fight allegations of ill …"

"… h at least 15 current or former employees, reminding the ex-employees that Citigroup would enforce the “non-disparagement clauses” in their severance agree …"

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

Excerpts from this story referencing "Texas":

"… housing on the campaign trail, such as Newt Gingrich and Rep. Ron Paul of Texas have said Fannie and Freddie were responsible for policies that drove lend …"

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

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

Excerpts from this story referencing "Wall Street Journal":

"… housing market amid weak demand and a stream of foreclosed properties, the Wall Street Journal reports.Policy options include having mortgage giants Fannie Mae and Fredd …"

"… te sector, writes Peter Wallison of the American Enterprise Institute in a Wall Street Journal opinion column.  He says this view is supported in a newly published …"

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

Excerpts from this story referencing "reform law":

"… tors to make safer but less lucrative trades. …"

"… at stake for banks – U.S. banks stand to lose billions if the Dodd-Frank reform law is fully implemented and so, in response, are spending equally high amount …"

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

Excerpts from this story referencing "Shaun Donovan":

"… before they lose their home," said Housing and Urban Development Secretary Shaun Donovan.The year-long forbearance period is required for mortgage loan servicers p …"

“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

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 "Wall Street Journal":

"… rry out its Dodd-Frank financial reform responsibilities, according to the Wall Street Journal. The House bill would also set the consumer bureau’s budget at $200 mill …"

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 "Ben Bernanke":

"… 1000 ET and will be webcast.Fed news conference - Federal Reserve Chairman Ben Bernanke holds quarterly news conference after the Fed's Open Market Committee meet …"