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 "Intel":

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

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 "Bear Stearns":

"… to return is Thomas Marano, who led the mortgage finance division at Bear Stearns and was on the board of its subsidiary, EMC Mortgage. He then took ov …"

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 "cent":

"… $34 trillion in wealth and sent the unemployment rate soaring above 10 percent for the first time in 25 years. “Every single one of these companies wa …"

"… n Corp., a company that rents out environmentally friendly cars. He was recently spotted at Doubles, the private dining club in the Sherry-Netherland Hot …"

"… o spends a lot of time at his 40-plus-acre ranch in Ketchum, Idaho, in the center of the Sun Valley resort area. The spot offers “ultimate privacy,” a …"

"… iner and granted him options to buy 2.29 million shares of its stock at 25 cents per share. Jimmy’s playing bridge While Fuld has tried to stay in the …"

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 "San Francisco":

"… er through two stints on the Federal Reserve Board and as president of the San Francisco Fed Bank  — including speeches, meeting transcripts, government tes …"

"… a. In 2004, she was tapped to be president of the Federal Reserve Bank of San Francisco  when the housing boom, especially in California, Nevada and Arizona, …"

"… ide the Fed as “Fed-Lite.” Trouble in California “We felt that, in San Francisco, supervision is a delegated activity and we operate under the guidelines o …"

"… th the constraints she felt, Yellen appears to take pride in how stringent San Francisco was under the circumstances. Countrywide Financial CEO Angelo Mozilo in la …"

Weekly watchdog 2/23/12


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 "Washington Mutual":

"… hed for trying to fight fraud worked at giant firms such as Wells Fargo or Washington Mutual (WaMu). Others worked at smaller lenders that joined the rush to sell home …"

"… owers as being among the chief culprits.In congressional testimony, former Washington Mutual chief executive Kerry Killinger blamed borrowers for misleading WaMu about …"

"… ocess.A two-year U.S. Senate investigation found that senior management at Washington Mutual ignored clear evidence that bank employees were engaging in fraud.In a rep …"

"… he nation’s largest commercial bank, others were raising questions about Washington Mutual, the nation’s largest savings and loan.One of them was Theresa Hagman, a …"

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 "Washington Mutual":

"… nded investor shields when she was approached by a broker working inside a Washington Mutual Bank. After inheriting some money from her brother in 2007, the retired Sa …"

"… rbitration award against the bank, JP Morgan Chase & Co., which bought Washington Mutual in 2008 after it failed. "Something about being in a bank made me trust h …"

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 "Washington Mutual":

"… loans to anyone, motivated by sheer greed.In one 2007 case, executives at Washington Mutual Bank were urgently trying to sell risky loans likely to go delinquent to g …"

"… downgraded and by February 2010, more than half the loans were delinquent.Washington Mutual became the largest bank in U.S. history to fail. Last month, the Fede …"

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 "Energy":

"… rchased the massive Signal Peak coal mine near Billings, Montana with FirstEnergy Corp. Boehner has been a fervent supporter of “clean coal” efforts tha …"

"… dioxide power plants can produce. Boehner voted against the American Clean Energy and Security Act of 2009, which purported to create clean Energy jobs and …"

Mitch McConnell: Fueled by tobacco and whiskey

By Josh Israel, Aaron Mehta and Caitlin Ginley

Mitch McConnell

Excerpts from this story referencing "Boston University":

"… ders, tobacco producers, and tobacco-dependent communities.” A report by Boston University public health professor Dr. Michael Siegel blasted the measure as a “swe …"

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 "false bank statements":

"… ge office that sales people sometimes cut and pasted borrowers’ names on false bank statements. As a result of shoddy lending practices, Washington Mutual had default ra …"

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 "Bank":

"… ittee tomorrow will present evidence that in the case of Washington Mutual Bank, the largest Bank failure in history, executives knew about the fraud — …"

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 "Long Beach Mortgage Loan Trust":

"… estigative Fund analyzed a bundle of mortgages sold to investors, known as Long Beach Mortgage Loan Trust 2006-4. Even before Long Beach Mortgage sold this bundle of $1.9 billion w …"

"… sure, according to the Mortgage Bankers Association of America. But in the Long Beach Mortgage Loan Trust 2006-4, at least 44 percent of these mortgages ultimately ended up in fore …"

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 "Washington Mutual":

"… subprime lenders were seized by the government. IndyMac Bank (No. 14) and Washington Mutual (owner of Long Beach Mortgage Co., No. 5) were each taken over by federal …"

"… er’s list of the top 25 subprime lenders. Long Beach was a subsidiary of Washington Mutual, which collapsed in 2008 thanks largely to losses in the subprime mortgage …"

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 "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 "Amgen":

"… governor’s financial holdings include stock worth at least $468,000: in Amgen (at least $75,000 worth), Associated Bank (at least $30,000), Conseco (at …"

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 "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 "Haim Saban":

"… conventions.)Haim and Cheryl Saban (The chairman of Fox Family Worldwide, Haim Saban is the creator-producer of Mighty Morphin Power Rangers and a major donor …"

"… :30 p.m.Host: Democratic Congressional Campaign CommitteeLocation: Home of Haim Saban, Bel-AirLate Night Party for Majority Council and Team 2000 donors (those …"