Obama's proposal to strip regulatory power from as many as eight federal agencies is meeting resistance from those who say another bureaucracy could stifle innovation in financial products. Congress gave the Federal Reserve the power to enact rules to protect consumers from unscrupulous mortgage lending in 1994. But as the years passed and risky subprime loans inflated the housing bubble, ...
Published News » Subprime Mortgage Crisis
National consumer agency would upend structure (Chicago Tribune)
Posted by mortgage 387 days ago (Editorial)
Crisis leaves three lessons unlearned two years on (Daily Telegraph)
Posted by mortgage 387 days ago (Editorial)
In the beginning there was only a financial crisis. When the US subprime mortgage market blew up in August 2007 few economists worried too much about the wider impact.
Northeast Ohio economist looks for myths in the mortgage mess (WKSU Kent State University)
Posted by mortgage 387 days ago (Editorial)
Subprime mortgages were at the epicenter of the U.S. economic meltdown. Cleveland Federal Reserve senior researcher Yuliya Demyanyk buys that. But her research has led her to challenge a lot of the other assumptions about the economic meltdown, and to issue a paper called, 'The Ten Myths about Subprime Mortgages." WKSU's M.L. Schultze reports.
Pushing the Limits of Stimulus Plans (New York Times)
Posted by mortgage 387 days ago (Editorial)
In the beginning, there was only a financial crisis. When the subprime mortgage market blew up in August 2007, few economists worried about the wider impact. In retrospect, that serenity was foolish, Breakingviews writes.
Norwegian towns sue Citigroup for losses (BusinessWorld Online)
Posted by mortgage 387 days ago (Editorial)
OSLO ? Seven Norwegian towns, some clustered around the Arctic Circle, have sued US banking giant Citigroup for more than $200 million of losses plus damages linked to the sub-prime mortgage crisis, their lawyer said Tuesday.
Home construction slows in region (Albany Times Union)
Posted by mortgage 387 days ago (Editorial)
Pace continues to fall, extending trend that began before mortgage crisis
Graydon Carter's Monthly Mortgage Payment Is Probably Less Than Your Rent [Media Elite] (Gawker)
Posted by mortgage 387 days ago (Editorial)
Vanity Fair editor Graydon Carter has an interest-free $5.3 million mortgage on his four-story greek revival townhouse in Greenwich Village, courtesy of his sweetheart deal with Cond
Citigroup Uses Government Funds to Re-Enter Warehouse Lending (Bloomberg)
Posted by mortgage 387 days ago (Editorial)
Aug. 12 (Bloomberg) -- Citigroup Inc. will lend as much as $2 billion to independent mortgage firms, hoping to profit in a business it mostly exited after the market seized up in 2007.
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