Tag Archives: state attorney general

California Likely To Join Investigation Of Wall Street’s Mortgage Practices

California is entirely governed by Democrats. I am not surprised that a Democrat state Attorney General is interested in joining New York and Delaware’s probes of the mortgage-bundling practices of Wall Street. Who can even understand tranches and the like? … Continue reading

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California Launches A Mortgage Fraud Taskforce

Mortgages are particularly susceptible to fraud because they are so complicated that ordinary people don’t understand them. They don’t understand what they are signing up for. And they are vulnerable to being taken advantage of. Lenders like to keep the … Continue reading

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Politicians Still Eager To Blame Banks For The Mortgage Meltdown

I don’t hear many politicians talk about their responsibility for the housing crash. What about the lowered lending standards they pushed through for blacks and latinos? What about forcing banks to lend money to people who are not credit worthy? … Continue reading

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Politicians Eager To Find Wall Street Responsible For The Housing Crash

Politicians are not as eager to investigate their own interventions into the free market, destroying what had been the most reliable investment around — mortgages. The New York Post reports: Several high-profile investigations, including one by New York State Attorney … Continue reading

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Arizona Sues Bank Of America

The last three years have been a disaster for Bank of America. Now Arizona’s Attorney General claims the bank violates the state’s laws. Countrywide signed a consent decree in 2009 allowing mortgage holders to renegotiate their loans. So much for … Continue reading

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Risky Mortgage Bets Cost CEO His Job

From the NYTimes.com: AIG named veteran former Citigroup banker Robert Willumstad, who was already AIG chairman, as its new CEO, effective immediately. Willumstad told Reuters that he plans to craft a turnaround plan for AIG by early September. While Willumstad … Continue reading

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