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Results for lobbyists subprime. Search took 0.08 seconds.
Is plain vanilla the right goal?
in The Mortgage Roadmap, on June 30, 2009
...erest-only options or any of the other fancy stuff that got so many borrowers in trouble during the subprime mortgage-lending crisis — if they choose.
But the Washington Post today asks an impo...
Climate change impacts
in Sox First, on June 18, 2009
... gas industry have been lobbying on climate change and Congress has shown itself to be a captive of lobbyists for industries and major companies. NOAA administrator Jane Lubchenco told the media ...
Does Obama's patchwork overhaul go far enough?
in Sox First, on June 18, 2009
... they stick? I have two problems with the changes. First, they do nothing to stop the power of the lobbyists who will try to kill the package. And secondly, the administration has done nothing to pul...
Does owning a home have to be the American Dream?
in The Mortgage Roadmap, on June 17, 2009
We like to find people to blame for our problems, don't we? And today, a lot of us are busy looking for people to blame for the mortgage meltdown the country is currently suffering through.
You know all about the meltdown: Housing foreclosures are soaring. Owners are walking away from thei...
How'd the mortgage meltdown happen? NPR knows
in The Mortgage Roadmap, on June 15, 2009
... you ever wanted to know — and then some — about mortgage loans, bad lending practices, subprime mortgages and the reasons why the mortgage industry went so wrong: It's NPR, of course....
Are reverse mortgages the next trouble spot?
in The Mortgage Roadmap, on June 8, 2009
...ke action to prevent reverse mortgages from causing some of the same problems for homeowners that subprime loans have already caused.
Reverse mortgages are popular these days. They let homeowners 6...
Wells Fargo accused of pushing bad loans on African-Americans
in The Mortgage Roadmap, on June 8, 2009
... Bank singled out African-American borrowers in Baltimore and suburban Maryland for high-interest subprime mortgages.
Baltimore has since filed a lawsuit against Wells Fargo. The city claims that t...
Subprime and racism
in Sox First, on June 7, 2009
...
One of the things that has disturbed me the most about the subprime crisis is the impact it's had on the African American and Hispanic communities, and the way banks had targeted these people ...
Mortgage giant Mozilo charged with fraud
in The Mortgage Roadmap, on June 5, 2009
...ated $461 billion worth of mortgage loans. Too many of those loans, though, were bad ones. When the subprime lending crisis hit, Countrywide quickly fell apart.
Mozilo was once the king of the mortga...
Rising healthcare costs put strain on homeowners
in The Mortgage Roadmap, on June 4, 2009
...m.
It's never a good feeling to have to rely on the government, then, to fix anything. Money, lobbyists and political interests always get in the way.
The hope is that the government and the he...
More housing woes
in Sox First, on May 29, 2009
...rtgagees are in serious trouble. What's even more concerning is the fact that it's not the subprime loans that are the main cause of the problem. Prime fixed-rate loans now represent the larg...
Loan modifications not always helping homeowners
in The Mortgage Roadmap, on May 26, 2009
...difications aren't quite working .
The paper cites a Fitch Ratings report that points out that subprime loans that have been modified are turning bad again at high rates, even with a change in lo...
Looking to buy? Your mortgage loan might be smaller than ever
in The Mortgage Roadmap, on May 13, 2009
...elling today.
And qualifying for a mortgage loan today is more difficult, as lenders, stung by the subprime lending crisis, are doing everything they can to avoid passing out mortgage money to borrow...
A Hippocratic oath for managers
in Sox First, on May 8, 2009
...g virtual products as they did in financial markets wasn't serving anyone. Neither was flogging subprime packages to people who couldn't repay them, securitising them in packages that nobody c...
Bankroll blues
in Sox First, on May 7, 2009
...won't crack down on them? First comes its report showing that that the top 25 originators of subprime loans, the $1 trillion worth of assets that created the meltdown were owned and financed by...
Animal Spirits by George Akerlof and Robert Shiller
in Sox First, on May 4, 2009
... loan (S&L) crisis, the 2001 recession by Enron and the latest by the totally amoral selling of subprime mortgages to people who would never be able to repay them, and their securitization in pack...
More bad news ahead, says Roubini
in Sox First, on April 8, 2009
...rtgage delinquencies comes when you break down the figures further. According to the data, 39.8% of subprime borrowers were at least 30 days behind on their home mortgage loans, up 23.7% from last yea...
H.R.875 Food Safety Modernization Act of 2009
in Do you like to cook?, on March 12, 2009
...e legislation. It will allow the appointing of officials from the factory farming corporations and lobbyists and classify them as experts and allow them to determine and interpret the legislation. Who...
Bad Money by Kevin Phillips
in Sox First, on February 17, 2009
...take over the US economy, a turbo-charged growth of financial debt and extending mortgage credit to subprime and other unqualified buyers, swelling the housing, mortgage and credit bubble to the point...
The meltdown and fascism: minister warns
in Sox First, on February 10, 2009
...
In his book The Subprime Solution , economist Robert Shiller warns that in good times people are willing to co-operate and accommodate others but when optimism for the future turns sour, they bec...
Lobbyists Looking For Loopholes In New Laws
in Exclusive from our news room , on January 17, 2009
... Obama's campaign promises placed heavy emphasis on regulating the many thousands of Washington lobbyists.
During the Bush administration lobbyists had a virtual field day, every day. They were w...
Subprime meltdown drives litigation
in Sox First, on January 7, 2009
...were sued in a federal securities class action in 2008, compared to only 5 percent in 2007. And the subprime/liquidity crisis was associated with 97 federal securities class actions. In 2008, 111 cla...
Why did the housing meltdown happen in the US?
in Sox First, on December 8, 2008
...preventing riskier loans. And finally, there was the unique role of securitisation which encouraged subprime lending. The big question for the US now is whether the egg can be unscrambled. Given that...
The Subprime Solution - Robert Shiller
in Sox First, on December 1, 2008
...
Have just finished reading Robert Shiller's The Subprime Solution which offers plenty of food for thought. Provocative and unsettling stuff. Shiller argues that the the impact of the US hou...
US market: it's back to 1997
in Sox First, on November 21, 2008
...loomberg says the collapse comes as writedowns and credit losses stemming from the collapse of the subprime mortgage market reaches $965 billion. And it's growing. The market is responding to da...
How the predication models failed
in Sox First, on November 11, 2008
...rectly predicted that a drop in real estate prices of 10 or 20 percent would imperil the market for subprime mortgage-backed securities but the analysts assigned a very low probability to that happeni...
Accounting regulators protecting banks
in Sox First, on November 6, 2008
...s, will be able to trust anyone else's books. Yet that's where the banking industry and its lobbyists keep taking us. They want government blessing to value their assets any way they want, usi...
Deutsche Bank's accounting shell games
in Sox First, on November 5, 2008
...o be strongly capitalized. The message: the banks are capable of lending even more. But when the US subprime loan market collapsed, resulting in the credit crunch, those same assets have been marked d...
Greenspan's legacy
in Sox First, on October 25, 2008
...
In his book The Age of Turbulence , former Fed chief Alan Greenspan proclaimed that subprime was a good thing for America. "The gains were especially dramatic among Hispanics and blacks, as ...
One Version of How the Meltdown Happened
in The Personal Finance Weblog, on October 20, 2008
...ill happen in the future.
Ben Stein goes on to give a generally understandable explanation of the subprimes mess and credit swaps and other financial instruments you and I will never grasp completely...
Financial meltdown and climate change
in Sox First, on October 17, 2008
...
Why does the subprime meltdown remind me of our inability to deal with climate change? Both are the result of market failure, both are symptoms of the inability of government and markets to plan f...
How the Credit Crisis is (Sort Of) Like 9/11
in The Personal Finance Weblog, on October 1, 2008
... as us shaking our heads from afar at the greed of Wall Street and the stupidity of Willy -nilly subprime mortgages could now morph into a financial crisis that will personally touch us, that reall...
Washington Mutual - another one bites the dust
in Sox First, on September 26, 2008
...ating had been cut to junk status by Standard&Poor's. It has already lost $6.3 billion on subprime mortgages and was facing $19 billiion in losses over the next two and a half years. An e...
Boxing Cox
in Sox First, on September 23, 2008
...buddies in corporate America and on Wall Street." One thing for sure. When the history of the subprime and debt mess is written, Cox will not be spared.
...
Is AIG next?
in Sox First, on September 16, 2008
... used by many companies world-wide to manage a range of risks, including exposure to investments in subprime mortgages. Its demise would potentially make it harder or more expensive for businesses to ...
Pegasus Sees 36th Month Of Positive Returns
in The Hedge Funds Weblog, on September 12, 2008
...g the 36th subsequent month of positive returns for the Pegasus Auto Loan Fund, which invests in US subprime auto loans.
In the $200 billion auto industry there is high demand for auto loan originati...
Why the markets imploded
in Sox First, on September 12, 2008
...ent when you read this IMMF working paper Transmission of Liquidity Shocks: Evidence from the 2007 Subprime Crisis . The blame is sheeted home to the unprecedented complexity and integration. "...
Another Election Cycle, Another Round of Tax Lies
in The Personal Finance Weblog, on September 4, 2008
...ld, however, presidents propose some things, and Congress either agrees or disagrees, and then the lobbyists come in and tell Congress whether they should agree or disagree, and then Congress does eve...
Wal-Mart CEO says US contagion spreading
in Sox First, on August 15, 2008
...
Is this the canary in the coal mine? In another sign that the effects of the US subprime crisis have spread globally, Bloomberg reports that global business air traffic fell 0.4 percent in June...
Risk managers come clean
in Sox First, on August 11, 2008
... bundles of risky debt, including mortgages, bonds backed by some of the riskiest home loans in the subprime market, credit card debt, loans to private equity, all parcelled up into neat little sectio...
Subprime + volatility = litigation
in Sox First, on July 30, 2008
...
It's clear that the subprime debacle has resulted in an outpouring of litigation. The trend was fairly obvious just months ago when I looked at the issue here . Now, the trned seems to be ga...
Merrill Lynch's day of reckoning
in Sox First, on July 29, 2008
...hrough a public share offering. That's after revealing another $5.7 billion in write-downs on subprime mortgages. Significantly, Merrill Lynch's total writedowns are now put at close to $4...
GM staves off bankruptcy
in Sox First, on July 16, 2008
... is the problem with GM? One way of looking at it is to say that high oil prices, combined with the subprime debacle, has stopped people buying its cars. But Toyota has responded quickly to a fall of...
Subprime's hot spinoff: arson
in Sox First, on July 7, 2008
Another sign of desperate times! Expect a record number of arson incidents with the growing number of mortgage defaults, reports Bloomberg . Still, you would have to ask why people would do it when, as the policy holder, you would be the first suspect on the list. People do dumb things ...
Moody's subprime error bug
in Sox First, on July 4, 2008
Ratings agency Moody's has admitted that it incorrectly graded several European mortgage debt instruments because of a computer bug. The agency admits that it incorrectly gave its highest AAA rating to about $1bn worth of European "constant proportion debt obligations" (whi...
How to Think Like Warren Buffett, Part 31
in The Personal Finance Weblog, on July 1, 2008
...e whole first 4 paragraphs of this letter are worth reproducing here, especially as pertains to the subprime crisis that so many people are still feeling the effects of:
Our gain in net worth during ...
Who will control your computers?
in The CIO Weblog, on June 30, 2008
There is a broad disparity between the views of software manufacturers and their customers with regard to who is ultimately in control of the software running on the customer machine. Businesses (and consumers) like to think that they own the machines they have paid good money for, and that they...
No SOX relief in sight
in Sox First, on June 24, 2008
...rnment sitting on its hands and doing nothing, reports Financial Week's Neil Roland . With the subprime crisis in full swing, and the US economy in deep strife, regulators are unlikely to start u...
Arrests everywhere
in Sox First, on June 20, 2008
...is in some emails. These included some correspondence that had Tannin telling Cioffi that the "subprime market looks pretty damn ugly'' and could be "toast'' and another wher...
Lawsuits come in
in Sox First, on June 18, 2008
...laiming Deutsche Bank fraudulently sold M&T high-risk collateralized debt obligations linked to subprime loans. M&T has accused Deutsche Bank of intentionally withholding material infor...
FBI steps up on mortgage fraud
in Sox First, on June 13, 2008
...berg reporting that the FBI has pulled agents off financial crimes cases so that they can focus on subprime. Clearly, this problem is getting bigger than anyone expected....
Beware of "Surgery Today, Pay Later"
in The Personal Finance Weblog, on June 11, 2008
...ers get a portion of the practitioner's fee.
Consumer Reports calls the practice "akin to subprime mortgages," saying that some patients are pressured into risky financing plans by the ...
Blame subprime on the banks: accounting rule-maker
in Sox First, on May 26, 2008
...ican . Now living in Johannesburg, Mr Garnett was scathing about the way the banks have blamed the subprime crisis and credit crunch on accounting rules. And he says there are major problems with dis...
FBI reports: fraud cases are up
in Sox First, on May 23, 2008
...
Another sign that times are getting tough. The market gyrations and subprime crisis are providing plenty of opportunities for the unscrupulous, says the Federal Bureau of Investigation. An FBI do...
Rich and poor: the CEO pay disconnect
in Sox First, on May 19, 2008
... 1000 CEOs and Obama, who always says he takes no money from political action committees or federal lobbyists, has picked up $130,000 from 45 of America's top companies. Still, the most interesti...
Mortgage fraud getting worse
in Sox First, on May 14, 2008
...r cent to 46,717 reports. An extraordinary number when you compare it to the 6936 reported in 2003. Subprime loans are a big contributing factor. This is going to get a lot worse. With warnings tha...
When companies get too big
in Sox First, on May 13, 2008
... cents in every dollar spent on groceries. True, Wal-Mart's been doing well in the wake of the subprime mortgage crisis as Americans rein in their spending, something that Slate writer explains i...
George Soros: market fundamentalism and other illusions
in Sox First, on May 12, 2008
...g to get a lot worse and problems with such adjustable-rate mortgages shaping up to be as as bad as subprime mortgages. And in the final wash-up, he says, the US will no longer the economic superpowe...
UBS woes
in Sox First, on May 7, 2008
...on the way to cutting 5500 jobs after losing $11 billion in the first quarter as a result of the US subprime crisis. Most of the jobs will go in the US and Britain, all part of a giant shakeup of the ...
The Consequences of New Credit Card Regulations
in The Personal Finance Weblog, on May 5, 2008
...efore payments are due
* Have customer payments allocated to higher-interest balances first
* Stop subprime credit cards from offering extremely small credit lines that are then mostly used up by the ...
PCAOB targets mortgage securities
in Sox First, on May 1, 2008
...rced to write down billions of dollars because of the difficulties valuing securities linked to the subprime mortgage debacle. Part of the problem is that fair value accounting requires those assets ...
The business of corruption
in Sox First, on April 29, 2008
...t;And while it is likely to peak in the next year or two, FPCA work, along with the coming flood of subprime mortgage litigation, should be enough to keep Washington 's legal industry hummin...
More than full disclosure
in Sox First, on April 26, 2008
...
Is fair disclosure the same as full disclosure? It's an important question in the wake of the subprime mortgage crisis where investors clearly were not given sufficient information. Louis Thomps...
Money to burn: UBS and the banking strategy crisis
in Sox First, on April 24, 2008
...
After writing off nearly $38 billion of bone-headed investments since the subprime crisis began last year, more than any other lender, and destroying all the profit it had generated since 2004, tr...
Hedge Fund Losses Reported By UBS
in The Hedge Funds Weblog, on April 21, 2008
...ns and losses through December 31, 2007. In the summary the Swiss bank says thats it's massive subprime losses were the result of excessive risk-taking and insufficient controls.
UBS said that th...
Corporate fraud surges
in Sox First, on April 18, 2008
In the past, I have done blog entries here and here looking at how the FBI is increasingly focusing on mortgage fraud. Now we have Federal Bureau of Investigation director Robert Mueller warning that Americans seem to be getting more corrupt with corporate fraud cases surging more than 80...
Subprime crisis drives litigation
in Sox First, on April 10, 2008
...re on the rise , up 21 per cent, from 92 in 2006 to 111 in 2007. At the time, I suggested that the subprime crisis may well drive the trend and send even more companies to court. Now that's been...
Mark to market mess
in Sox First, on April 9, 2008
...
To what extent is the subprime meltdown the result of an accounting technique? In theory, mark to market accounting sounds neat because it potentially gives a more realistic take by assigning a...
Crooks go free
in Sox First, on April 9, 2008
...w questions whether the policy shift is helping companies, under investigation for the roles in the subprime mortgage debacle, get off with a slap over the knuckles. The most dangerous part about the...
Fraudulent firms and lobbying
in Sox First, on April 8, 2008
...8 per cent less likely to be detected by regulators. The study also found that firms spend more on lobbyists peddling influence when they are actually engaged in hoodwinking investors. On average, a ...
