As multiple lawsuits and SEC actions progress in relation to the nation’s mortgage mess, it’s becoming clear that the misbehaviors of the lawyers involved at all stages were not isolated incidents: The misconduct was systemic, …
JPMorgan Chase may come to regret buying Bear Stearns. Suits by Wells Fargo and bond insurer Ambac claim that Bear entirely disregarded loan quality to appease its trading desk’s ever-growing demand for mortgages to securitize….
On Monday, a group of institutional investors sued Countrywide and Bank of America over Countrywide’s mortgages practices. The bank is accused of issuing vast numbers of loans using methods that went beyond lax standards and in…
Better-than-expected earnings from General Electric helped lift the Dow and S&P 500. The Nasdaq closed lower after disappointing results from chipmaker Advanced Micro Devices. Overall, the week’s strong earnings bode well for c…
It’s just one exchange between a loan applicant and a bank loan officer, but it speaks volumes about how the housing bubble was inflated so wildly and so quickly. Whatever happened to “truth in lending”?
Contin…