Fraud and folly: The untold story of General Electric’s subprime debacle

By Michael Hudson

High-paid employees of fraud-plagued, GE-owned WMC Mortgage included ex-porn star, strippers

Excerpts from this story referencing "Alt-A":

"… ern California where salespeople were pushing subprime loans as well as “Alt-A” mortgages, another type of risky home loan.The team, Riedel says, found …"

"… ness, dead after having pumped out roughly $110 billion in subprime and “Alt-A” loans under GE’s watch, according to industry data tracker Insid …"

"… accounted for the second-highest number of foreclosures on subprime and “Alt-A” mortgages in the nation’s 10 hardest-hit foreclosure hotspots, traili …"

Woman says GE-owned subprime lender deceived, defrauded her

By Michael Hudson

Mortgage on modest home becomes legal nightmare for West Virginia woman

Excerpts from this story referencing "Sheila Timmons":

"… onstant,” she says. “It’s not something you can just forget.”  …"

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 "WMC":

"… king into potentially criminal business practices at Burbank, Calif.-based WMC Mortgage Corp. during the home-loan boom, according to four people with kn …"

"… e of the sensitivity of the investigation.The government is asking whether WMC used falsified paperwork, overstated borrowers’ income and other tactics …"

"… t comment on specific investigations. However, he said any allegation that WMC sold large numbers of fraudulent loans to investors was false.GE …"

"… of fraudulent loans to investors was false.GE acquired WMC near the height of the mortgage boom in 2004, giving it a major presence i …"