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 "Finance":

"… LLC, a firm that, among other things, defends businesses from the Consumer Finance Protection Bureau and “consumer protection matters,” according to its …"

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 "Merrill Lynch":

"… lender whose risky loans to vulnerable consumers hastened the downfall of Merrill Lynch after the Wall Street investment bank bought it in 2006 for $1.3 bill …"

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 "White House":

"… illain, Dimon was treated as a rock-star statesman. He was welcome at the White House and lauded as one of the only bankers who didn’t need a bailout — even …"

"… y good job managing an enormous portfolio.” Dimon’s popularity in the White House began to fade because he was a vocal opponent of many of the financial ref …"

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 "American International Group":

"… swaps — a type of derivative — caused the collapse of insurance giant American International Group. Post-crisis rules now require standard derivatives be traded through an …"

Weekly watchdog 2/23/12

Watchdog

Excerpts from this story referencing "Washington Mutual":

"… Writers and Editors for our coverage of mortgage fraud at Countrywide, GE, Washington Mutual and other banks. …"

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 "Washington Mutual":

"… hed against Saffer because it bought Saffer’s ex-employer, Seattle-based Washington Mutual Bank, in September 2008, after regulators seized WaMu in what was the larg …"

"… ns Mortgage, before he took a job in mid-2007 as a mortgage sales rep at a Washington Mutual office in Ladera Ranch, Calif.WaMu, the nation’s largest savings and loa …"

"… “NegAm” in industry parlance.Option ARMs accounted for roughly half of Washington Mutual’s home-loan production during the mortgage boom years, according to fede …"

"… rowers, he says.That didn’t leave him many other products he could sell. Washington Mutual purposely priced traditional 30-year fixed-rate mortgages higher than what …"

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 …"

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 "financial reform law":

"… s users and insurance brokers wants to see major pieces of the Wall Street financial reform law dismembered and defunded. They are partnering with mostly GOP House member …"

"… for lack of funding; Supplying all the funding mandated by the Dodd-Frank financial reform law for the new Consumer Financial Protection Bureau; Increasing the annual f …"

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 "financial reform law":

"… ntial to reduce banks’ leverage and prevent future crises.The Dodd-Frank financial reform law gave the FDIC new authority to step in when a giant financial institution …"

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 "Lehman Brothers":

"… inal report last month.And a court-appointed examiner in the bankruptcy of Lehman Brothers Holdings Inc., issued a 2,200-page report in March 2010 detailing how the …"

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 "Washington Mutual":

"… bout 46 percent of all U.S. bank deposits after acquiring Bear Stearns and Washington Mutual during the financial crisis. “Economies of scale are a good thing,” Di …"

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 "Washington Mutual":

"… l financial services giant such as Bank One, Chemical Bank, Providian, and Washington Mutual. As minority leader, Boehner was key to the 2008 enactment of the $700 bil …"

Mitch McConnell: Fueled by tobacco and whiskey

By Josh Israel, Aaron Mehta and Caitlin Ginley

Mitch McConnell

Excerpts from this story referencing "Bipartisan Campaign Reform Act":

"… lso known for his opposition to campaign finance restrictions, such as the Bipartisan Campaign Reform Act of 2002. After the legislation was enacted over his filibuster attempts, M …"

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 "Washington Mutual":

"… loans ultimately led to the collapse of Long Beach Mortgage and its owner, Washington Mutual, in the biggest bank failure in history.An inside look at Long Beach Mortg …"

"… preeKosch, an industry veteran, reminisces about working for Seattle-based Washington Mutual in the early 1990s, when loans were carefully scrutinized.Later that decad …"

"… nancial institutions in California, Florida, Illinois and New York to make Washington Mutual — once a regional player in the Pacific Northwest — the nation’s sec …"

"… mortgage lender. By 2003, one in eight new mortgages in America came from Washington Mutual.But when interest rates started rising in 2003, sales plummeted and compet …"

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 "Center for Public Integrity":

"… at has threatened the financial system. These are among the findings of a Center for Public Integrity analysis of government data on nearly 7.2 million “high-interest” or s …"

The Subprime 25

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

Excerpts from this story referencing "Washington Mutual":

"… of Subprime Loans: At least $68 billion Long Beach Mortgage Co./Washington Mutual Amount of Subprime Loans: At least $65.2 billion Option One Mor …"

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 "Senate":

"… adversely impact credit availability, and the bill was not taken up in the Senate after passing the House. In March, the legislation was reintroduced in the …"

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 "Washington Gov Gary Locke":

"… r a hat trick there, as well. …"

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 "Merrill Lynch":

"… artment is poised to invest $250 billion. (The others are Bank of America, Merrill Lynch, Citigroup, Goldman Sachs, Morgan Stanley, and State Street.)Treasury Secr …"

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 "Washington Mutual":

"… which was the nation’s largest thrift before its acquisition in 1998 by Washington Mutual.In e-mailed responses to questions posed by the Center for Public Integrit …"

"… 90 been in effect during the negotiations, Home Savings and its successor, Washington Mutual, “would have been much more confident in their long-term desire to devel …"

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 "Ed Rendell":

"… setLate-Night Party with National Chairman Joe Andrew and General Chairman Ed Rendell, August 15, 10:30 p.m.-2 a.m.Host: Democratic National CommitteeSponsors: …"

"… Sponsors Brunch with DNC National Chairman Joe Andrew and General Chairman Ed Rendell, Wed., August 16, 11 a.m.Host: Democratic National CommitteeLocation: Hote …"

Pages