Given the slew of questions that have been raised about the $700 billion bailout of Wall Street firms, Congress is right to reject open-ended grants of power at untold cost, writes Sarah Binder.
The Wall Street Reform and Consumer Protection Act was enacted in response to the worst financial crisis since the Great Depression, caused by years of lax enforcement of regulations and zero accountability for the nation’s financial institutions.
“You have a Congress that’s been unable to function effectively. It’s the biggest deal by a major Wall Street firm since the financial crisis – so what’s the rationale? The bank wants in on.
Fannie, Freddie loans hit series high in National Mortgage Risk Index Donovan: Sequestration could devastate Fed housing programs Senate Bank Chair weighs sweeping GSE, mortgage lending overhaul Reverse Mortgage Funding expands payment options on proprietary reverse product Category: Products – Prominent financial planner Jill Schlesinger, who has a historical track record of questioning the viability of reverse mortgage products, has highlighted what she views as their deficiencies in a new.HUD Says Spending Cuts Could Devastate Housing Programs. – March 2013 HUD Says Spending Cuts Could Devastate Housing Programs. U.S. Department of Housing and Urban development secretary shaun donovan told lawmakers Feb. 14 that automatic government spending cuts could destroy some federal housing programs and hurt low-income renters and families facing foreclosure, HousingWire reported. · Reports last week indicated that Fannie Mae and Freddie Mac, the twin institutions that guarantee U.S. housing loans, could finally be on the brink of exiting their decade-long federal conservatorship. If so, it’d mark a sea change for multifamily finance. In captivity, the giant agencies had.Plaza Home Mortgage rolls out new high-balance mortgage program I have been working at Plaza Home Mortgage full-time for more than 3 years. I’d say the con is the mortgage industry vis-a-vis IT staff. Plaza does the best they can in an environment that is drowning in risk and regulation.. Pretty pathetic way to treat people who stuck out the bad times.
"Financial Crisis Inquiry Commission" Expert Panel Found Wall Street Recklessness Caused The Crisis. Right-wing interests, chiefly the U.S. Chamber of Commerce, have claimed the FCIC’s report is biased. Political Correction debunked those claims when the report was released. Read our full fact check of that claim.
Wallison, Encounter Books, 356 pages, $27.99 Eight years after the nation’s financial system began its rapid slide into calamity, we all know why. Greedy Wall Street. recent Congress, makes it.
Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies.
How a GOP bill could cause the next financial crisis A reboot of bankruptcy law for the big banks would put wall street in line before Main Street, again. Wall Street’s gambles and risky borrowing directly led to the financial crisis, causing the collapse and near-collapse of megabanks and greatly harming millions of Americans.
Wall Street is now thoroughly emboldened as the financial elite follows the mantra of Kelly Clarkston’s hit song: "What doesn’t kill you makes you stronger." Since the crisis of 2007-08, the Big Six US banks-JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley-have seen.
S&P/Case-Shiller home price index shows 0.7% drop in September The above photo shows lehman brothers staff in a meeting room in London’s Canary Wharf financial district on September. The S&P/Case-Shiller Home Price Index fell by a record 19% year-over-year in.Morgan Stanley agrees to pay $7.2 million to settle Nevada MBS dispute LoanLogics has announced that its president and COO, Bill Neville, will take over the role of CEO from brian fitzpatrick. loanlogics founder and chairman howard conyack jr. said Neville’s leadership will help drive the.morgan stanley trader Howie Hubler lost $9 billion on a single stock market bet in 2007, not because he didn’t think the bubble of mortgage-backed derivative securities.
At the heart of the financial crisis were unresolved, and often undisclosed, conflicts of interest," said Dr. Coburn. "Blame for this mess lies everywhere from federal regulators who cast a blind eye, Wall Street bankers who let greed run wild, and members of Congress who failed to provide oversight."