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Federal Reserve Ignored Evidence Of Mounting Crisis In Subprime LendingBut during the years of the housing boom, the pleas failed to move the Fed, the sole federal regulator with authority over the businesses. Under a policy quietly formalized in 1998, the Fed refused to police lenders' compliance with federal laws protecting borrowers, despite repeated urging by co... |
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Fed Held Back As Evidence Mounted On Subprime Loan AbusesUnder a policy quietly formalized in 1998, the Fed refused to police lenders' compliance with federal laws protecting borrowers, despite repeated urging by consumer advocates across the country and even by other government agencies. The hands-off policy, which the Fed reversed earlier this mon... |
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How the Government is Setting Us Up for a Second Subprime CrisisIs the government creating another subprime-mortgage bubble? The first time around, the three-headed federal serpent – the Bush administration, the Treasury Department and the U.S. Federal Reserve – used Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) to “legitimize” ... |
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Jerry Chautin: Before Subprime There Was ACORNAssociation of Community Organizations for Reform Now, known as “ACORN,” is in the news again and conservative politicians are going for the jugular vein. They smell blood and sense an opportunity to keep the ultraliberal, left-wing “scoundrels” at bay. That is because ... |
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Tavis Smiley Says He's Cutting Ties to Wells Fargo Over Subprime ScandalProminent author, commentator and PBS talk show host Tavis Smiley has announced that he's cutting all business ties to Wells Fargo & Co. The move comes in the wake of a TWI story last week about Wells Fargo "Wealth Building" seminars held in black neighborhoods starting in 2005, hea... |
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Why no subprime perp walks?Three years after the housing bubble popped, federal prosecutors have yet to bring a case against the executives whose firms took part in some of the worst excesses of the subprime mortgage market. ... |
