Oh Look, Another Outstanding Trump Appointment!
In keeping with the trend of hiring people good at destroying things, here's another great Trump appointment.
Time For Wall Street To Stop Blocking Mel Watt
Mel Watt needs to be confirmed - now.
JPMorgan Faces Criminal Probe Over Mortgage Securities
JP Morgan Chase revealed in a regulatory filing Wednesday that the bank faces civil and criminal investigations over its dealing of shoddy mortgage securities that led to the 2008 financial crisis.
Gunman Who Held Firefighters Hostage Killed By SWAT Team
Watch: A bank foreclosure and eviction goes horribly wrong when the former homeowner took four firefighters hostage in a suburban Atlanta, Georgia neighborhood on Wednesday.
Wall Street Keeps Winning: Can It Change?
The news from the world of finance has been incredibly depressing of late, as the big Wall Street banks keep winning round after round in their battles with regulators. The flurry of deals, which in part were closed pre-Jan 1st to allow the banks to
Mounting Fannie And Freddie Losses From LIBOR Fraud
I'm sure the banks will be dealt with just as severely as they were the last time they engaged in massive fraud. Oh, wait:
(Reuters) - Mortgage finance giants Fannie Mae and Freddie Mac may have suffered more than $3 billion in losses due to
Exec Who Allegedly Enabled Fraud Runs Chase’s Effort To Compensate Foreclosure Victims
By Paul Kiel, ProPublica
An executive who the Justice Department says facilitated a scheme to defraud Fannie Mae and Freddie Mac is now spearheading JPMorgan Chase's role in the government's program to compensate victims of the big
Feds Sue Bank Of America
Federal prosecutors hit Bank of America with a $1 billion lawsuit Wedesday, accusing the bank of mortgage fraud that contributed to the housing crisis. Bank of America became entangled in the scheme -- known as “High-Speed Swim Lane” or “Hustle” -- when it purchased Countrywide Financial in July 2008, just as the economy was slipping into recession. Countrywide, a mortgage lending giant, was already known for approving risky loans when it introduced its “Hustle” program to churn out more loans, effectively eliminating a system that ensured the mortgages were being made to buyers who could afford them. A top U.S. attorney said the bank’s fraud was “spectacularly brazen in scope.”
Occupy DC Protests Fannie Mae Foreclosures
"Fannie Mae, you can't hide, we can see your greedy side," chanted over 200 homeowners and renters from across the country, who protested recently in front of Fannie Mae headquarters in Northwest, Washington D.C.. The protestors gathered
Freddie Mac Didn’t Set Out To Profit From Homeowners Trapped In High-Rate Mortgages
Federal watchdog says mortgage giant had no coordinated plan to bet against homeowners, though Freddie held billions of dollars of investments that paid off if borrowers stayed stuck in high-interest loans.
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