Posts Tagged “Bank Failure”

News Sources wrote an interesting post today on
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The failed bank steered borrowers into subprime loans and then turned the loans into securities the company knew were likely to go bad, investigators say. Before Washington Mutual collapsed in the largest bank failure in U.S. history, its executives knowingly created “a mortgage time bomb” by steering borrowers to subprime mortgages and turning the loans into securities the company knew were …

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News Sources wrote an interesting post today on
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“Government Violates the Citizens (Again)” by Karl Denninger “This is going to be an ongoing series, I suspect - tracking government abuse of the citizenry via debt-shifting. What am I referring to? Simple: Back-door bailouts of banks and industry (notably the auto industry) through farcical programs that con the citizens of the nation to take on unsustainable debt, thereby transferring what should be a corporate or bank failure to into a whole bunch of personal bankruptcies. There are t

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News Sources wrote an interesting post today on
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By Karl Denninger, The Market Ticker This is going to be an ongoing series, I suspect – tracking government abuse of the citizenry via debt-shifting. What am I referring to? Simple: Back-door bailouts of banks and industry (notably the auto industry) through farcical programs that con the citizens of the nation to take on unsustainable debt, thereby transferring what should be a corporate or bank failure to into a whole bunch of personal bankruptcies. There are two programs in particu

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News Sources wrote an interesting post today on
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KOMO News

Get Ready for More Bank FailuresBusinessWeekFirst, it was bad residential real estate loans, including the notorious subprime mortgages. The biggest bank failure of the crisis occurred on Sept. …Failure of Corus Bank puts condo loans up for sale Bizjournals.comCorus Bank Is the Latest to Be Seized by Regulators Wall Street JournalMonday Morning Cup of Coffee Housing Wire Consumer Affairsall 487 news articles »

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News Sources wrote an interesting post today on
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by Moe Bedard on September 8, 2009 · 0 commentsin Mortgage Servicers “We’re still waiting to see how the Wachovia and Washington Mutual portfolios play out,” said Brian Olasov, who studies the banking industry as managing director at law firm McKenna Long & Aldridge. “We’ve got a big bulge in resets still to come.”WaMu and Wachovia, now part of Wells Fargo (WFC, Fortune 500), helped stoke the housing bubble by issuing tens of billions of dollars of so-called option adjustable rate mortgages. Opt

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