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 "Neil Barofsky":

"… rt by the Special Inspector General for the Troubled Asset Relief Program, Neil Barofsky. AIG’s counterparties — those that were owed — including Goldman Sa …"

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 "Washington Mutual":

"… liff Rossi, who was a high-level risk management executive at Countrywide, Washington Mutual and Freddie Mac before the crisis. Rossi got his start during the savings …"

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 "Washington Mutual":

"… the sales of Merrill Lynch to Bank of America, Wachovia to Wells Fargo and Washington Mutual to JPMorgan, thousands of hours and millions of pages have been filled try …"

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 "Federal Reserve System":

"… stern states  as well as smaller state banks that were members of the Federal Reserve System. The Federal Reserve System is made up of the Washington, D.C.-based Boar …"

"… smaller state banks that were members of the Federal Reserve System. The Federal Reserve System is made up of the Washington, D.C.-based Board of Governors and 12 Reserve …"

Weekly watchdog 2/23/12

Watchdog

Excerpts from this story referencing "William E. Buzenberg":

"… to help make hospitals and the public aware of the danger.Until next week,William E. BuzenbergExecutive DirectorFilthy instruments plague operating rooms Poorly steriliz …"

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 …"

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 "Mortgage":

"… d Ed Parker, former fraud investigations manager at now-defunct Ameriquest Mortgage Co., a leading subprime lender. “But we were not welcome because we affe …"

"… “boiler room” operation and a frat-house blowout.At Citizens Financial Mortgage Inc., a small Pennsylvania-headquartered lender, the out-of-control behavi …"

Mortgage industry tanks, fraud continues at Countrywide

By Michael Hudson

As the mortgage industry melted down, fraud investigator kept up the pressure, soon lost her job

Excerpts from this story referencing "Washington Mutual":

"… ements from various banks and brokerage firms, such as Bank of America and Washington Mutual.In some of the offices, investigators found more than one fax machine.&nbs …"

Investor protections imperiled by Wall Street, GOP assault on financial reform

By John F. Wasik

Wall Street and GOP assault consumer protections in Dodd-Frank reforms

Excerpts from this story referencing "Bank of America":

"… Bankers Association, $1.7 million from JP Morgan Chase, $1.6 million from Bank of America and $1.3 million from Wells Fargo. By imposing restrictions and curtailin …"

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 "Washington Mutual":

"… 08 when several large institutions such as Merrill Lynch, Countrywide, and Washington Mutual saw their liquidity and stock prices rapidly plunge, forcing the governmen …"

WaMu, other banks motivated by greed, financial crisis probe concludes

By David Heath

WaMu, other bankers knowingly sold bad loans, Senate probe of crisis concludes

Excerpts from this story referencing "Alan Greenspan":

"… suing its 633-page findings in January 2011. It blamed former Fed Chairman Alan Greenspan, risky borrowing by big banks, inaction by the SEC, and a systemic breakdo …"

Reform reading: JPMorgan CEO not embarrassed to be banker

By Julie Vorman

A roundup of news and commentary to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law....

Excerpts from this story referencing "financial reform law":

"… rtgage lenders, which already face tougher regulations from the Dodd-Frank financial reform law, may soon also have to tell the U.S. government when they encounter suspic …"

WaMu examiner sheds new light on bankruptcy, criticizes FDIC for lack of cooperation

Joshua Hochberg's report on the fall of Washington Mutual discloses no Lehman-like allegations of accounting chicanery, nor does it establis

Excerpts from this story referencing "Washington Mutual":

"… ything — in life, and, it seems, in bankruptcies.Consider the failure of Washington Mutual Bank, seized by federal regulators in the fall of 2008 and quickly sold in …"

"… report, though valuable, doesn’t address the decision-making that led to Washington Mutual’s precarious position as of the spring of 2008. For that, it is instruct …"

Backing Pelosi: A labor of love

By Josh Israel and Aaron Mehta

A labor of love

Excerpts from this story referencing "Washington Mutual":

"… t now make up the global financial services behemoth (Providian, Bank One, Washington Mutual, and Chemical Bank, among others). As speaker, Pelosi was key to the 2008 …"

John Boehner: A pro-business agenda

By Josh Israel, Aaron Mehta and Caitlin Ginley

A pro-business agenda

Excerpts from this story referencing "Securities Industry and Financial Markets Association":

"… to fight to preserve the rule. FedEx did not return calls for comment.10. Securities Industry and Financial Markets Association — $142,390In tenth place with at least $142,390 in contributions: the Se …"

"… on — $142,390In tenth place with at least $142,390 in contributions: the Securities Industry and Financial Markets Association (SIFMA), a financial trade organization that represents banks, securities …"

Mitch McConnell: Fueled by tobacco and whiskey

By Josh Israel, Aaron Mehta and Caitlin Ginley

Mitch McConnell

Excerpts from this story referencing "Mitch McConnell":

"… ompanies after merger or acquisition. …"

"… er. Tobacco giants Altria Group Inc. and Reynolds American Inc. are two of Mitch McConnell’s top five career campaign PAC contributors. And three of the Senate Rep …"

"… ican Party a check for $50,000 to help rebuild its headquarters — the “Mitch McConnell Building.” UPS spokesman Malcolm Berkley told the Center that …"

"… e data. Totals include individual and political committee contributions to Mitch McConnell’s Senate campaign committee and the Bluegrass Committee, from their ince …"

Too big to jail?

By David Heath

Executives unscathed as regulators let banks report criminal fraud

Excerpts from this story referencing "Washington Mutual":

"… he Investigative Fund, such lending practices contributed to the demise of Washington Mutual.Not everyone agrees that such a case can be successful. Benjamin Wagner, a …"

"… Department has ongoing criminal investigations against major banks such as Washington Mutual and Countrywide, as well as investment bank Goldman Sachs.Fewer Cops on th …"

WaMu bank executives aware of rampant fraud

By David Heath

WaMu bank executives aware of rampant fraud but failed to act

Excerpts from this story referencing "Washington Mutual":

"… oans.A Senate committee tomorrow will present evidence that in the case of Washington Mutual Bank, the largest bank failure in history, executives knew about the fraud …"

"… n Democrat who will chair the hearing, sidestepped questions about whether Washington Mutual executives broke criminal laws.But Levin’s committee has unearthed docum …"

"… esident of Home Loans. Sources close to the committee say Kerry Killinger, Washington Mutual’s president, chief executive officer and chairman at the time, knew abou …"

"… f tried to raise red flags. The story detailed how management practices at Washington Mutual became an invitation for fraud. Within Long Beach Mortgage, former employe …"

WaMu bank executives aware of rampant fraud

By David Heath

WaMu executives knew of fraud yet they failed to act, Senate investigation finds

Excerpts from this story referencing "Washington Mutual":

"… oans.A Senate committee tomorrow will present evidence that in the case of Washington Mutual Bank, the largest bank failure in history, executives knew about the fraud …"

"… n Democrat who will chair the hearing, sidestepped questions about whether Washington Mutual executives broke criminal laws.But Levin’s committee has unearthed docum …"

"… esident of Home Loans. Sources close to the committee say Kerry Killinger, Washington Mutual’s president, chief executive officer and chairman at the time, knew abou …"

"… f tried to raise red flags. The story detailed how management practices at Washington Mutual became an invitation for fraud. Within Long Beach Mortgage, former employe …"

At top subprime mortgage lender, policies Were invitation to fraud

By David Heath

Long Beach Mortgage employees say firm routinely ignored warnings

Excerpts from this story referencing "Florida":

"… he previous seven years buying large financial institutions in California, Florida, Illinois and New York to make Washington Mutual — once a regional playe …"

Mortgage companies and the new regulatory regime

By Kat Aaron

Everyone knew it was coming. With all the turmoil in the American financial system, a push for re-regulation was inevitable. The Obama admin

Excerpts from this story referencing "Washington Mutual":

"… Mac, which was seized by the FDIC in July 2008. Also on the OTS roster was Washington Mutual, whose collapse in September 2008 stands as the single biggest bank failur …"

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 "American International Group":

"… lending abuses. Four of those have received bank bailout funds, including American International Group Inc. and Citigroup Inc. The Center also conducted a computer analysis of …"

"… anking regulators after big losses on their portfolios of subprime loans. American International Group (AIG), better known for insurance and complex trades in financial derivati …"

The Subprime 25

A full text list of the top 25 lending companies responsible for subprime loans

Excerpts from this story referencing "HSBC Holdings plc":

"… unt of Subprime Loans: At least $51.8 billion HSBC Finance Corp./HSBC Holdings plc Amount of Subprime Loans: At least $50.3 billion *** WMC Mortga …"

The appraisal bubble

By Joe Eaton

In 2004, years before plummeting real estate values turned Fort Myers, Florida, into a top five foreclosure capital, appraiser Mike Tipton f

Excerpts from this story referencing "Washington Mutual":

"… an eAppraiseIT, charging that eAppraiseIT allowed loan production staff at Washington Mutual to pressure appraisers to inflate home values. The suit is pending.The sui …"

"… e suit is pending.The suit claims the appraisal management company allowed Washington Mutual’s “loan production staff to hand-pick appraisers who bring in appraisa …"

"… alleges that executives at eAppraiseIt knew its appraisal arrangement with Washington Mutual broke the law. “I think WaMu’s new initiative is way over the line,” …"

"… uomo wrote that evidence shows mortgages Fannie and Freddie purchased from Washington Mutual “may be premised on fraudulently inflated appraisals” that do not meet …"

A look at Locke’s disclosure statement

By Josh Israel

Now that President Obama has nominated former Washington Gov Gary Locke to head the Department of Commerce, PaperTrail (and probably Obama h

Excerpts from this story referencing "Obama":

"… pe to avoid having to go for a hat trick there, as well. …"

"… ov Gary Locke to head the Department of Commerce, PaperTrail (and probably Obama himself) wonders if three times will be the charm. The prez’s first pick …"

"… job.With financial questions having already torpedoed Richardson and other Obama picks, we scoured through Locke’s most recent personal financial affairs …"

"… ents in companies based in his home state.Assuming there are no surprises, Obama can focus now on the vacancy at Health and Human Services, and hope to avo …"

Lee Meyerson, lawyer for the big banks, to the financial rescue

By Marianne Lavelle

A lawyer who has represented some of the nation’s largest banks — and helped them in their bids to grow even larger — has been tapped to adv

Excerpts from this story referencing "Washington Mutual":

"… experience in dealing with financial industry emergencies. He represented Washington Mutual earlier this year in its effort to climb out of a deep subprime mortgage h …"

The ‘Other’ Howard

By Lisa M. Fetta

While he’s put $200,000 behind Proposition 90, Howard Ahmanson, Jr., says that he’s never even spoken to Howard Rich

Excerpts from this story referencing "Founder":

"… threatened by [the] use of eminent domain. I suspect Howard knows, as the Founders knew, that it’s hard to maintain liberty without respecting private pro …"

When the Democrats wined and dined, here's who paid the piper

By Josey Ballenger

WASHINGTON, September 14, 2000 — Anyone who thought the Democratic National Convention was only about presidential nominee Al Gore must have

Excerpts from this story referencing "Westin Bonaventure Hotel":

"… m.Host: Democratic National CommitteeSponsor: Ethnic America 2000Location: Westin Bonaventure HotelDinner with Vice Presidential Nominee Joseph Lieberman for Jefferson Trust, …"

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