Recent Event Highlights: TIAA-CREF chief Roger W. Ferguson Jr. tells Birmingham audience that diverse ... - The Birmingham News - al.com (blog), W&L grad, author to discuss mortgage crisis - Staunton News Leader, Here's What You Need To Know About The State Of Foreclosures, And Why They ... - The Business Insider, Ambac Goes for Bankrupt - New York Observer, Fannie, Freddie and the Never-Ending Homing Crisis - Daily Reckoning - American Edition, Foreclosure crisis puts Wall St. reform to the test - Washington Post, and 137 more...
Created by dipity on Apr 21, 2009
Last updated: 01/25/11 at 12:34 AM
The Birmingham News - al.com (blog)TIAA-CREF chief Roger W. Ferguson Jr. tells Birmingham audience that diverse ...The Birmingham News - al.com (blog)... that kept retirement services giant TIAA-CREF from becoming embroiled in the subprime mortgage crisis, the company's chief executive said Wednesday. ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG_tvpjdfm9raz_GzxNV66Xs4Kx8A&url=http://blog.al.com/businessnews/2010/11/tiaa-cref_chief_roger_w_fergus.html
The Coming Nuclear Subprime RoutRaise the HammerIn particular, the US subprime crisis will provide a model by it size, economic damage and international impact. This crisis was inevitable by the years ...
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHOTTl3OwVvGqzb8A7kqpFg7xImdQ&url=http://www.raisethehammer.org/article/1227/the_coming_nuclear_subprime_rout
W&L grad, author to discuss mortgage crisisStaunton News Leader... of Washington and Lee University, will return to his alma mater on Monday to present a public lecture on his reporting of the subprime mortgage crisis. ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEC93zVIPx6k5PM64sUjjGYEkvSgg&url=http://www.newsleader.com/article/20101104/NEWS01/101104002
Here's What You Need To Know About The State Of Foreclosures, And Why They ...The Business InsiderThe subprime crisis is far from over, according to the latest Mortgage Monitor from LPS. If you believe the most bearish estimates (see: Chris Whalen ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG24KA50HHnI76hFFz8XO0wsKQiXg&url=http://www.businessinsider.com/lps-mortgage-monitor-2010-11
XinhuaHow the Election Will Affect HousingNewsweekThe subprime crisis is what got Fannie and Freddie into trouble. But by 2009, with taxpayers' backing, the two firms once again represented a majority-- ...Democrats manipulate system, create dependenceK-State CollegianUnderstand the genesis of the financial crisisThe ColoradoanFreddie Mac Reports Third Quarter 2010 Financial ResultsRealEstateRama (press release)all 766 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG31vC7JqQdQYGy0deVjT7jJ3v9UQ&url=http://www.newsweek.com/2010/11/02/how-the-election-will-affect-housing.html
Gambling on Our Own DemisetheTrumpet.comThe subprime crisis “will not affect the economy overall,” he said. It wasn'ta one-time error in judgment either. “The impact on the broader economy and ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFW1dsKoaFs2g0NA4-yiaChyxWr1Q&url=http://www.thetrumpet.com/index.php?q%3D7606.6181.0.0
CBC.caAmbac Goes for BankruptNew York ObserverMunicipal bond insurer Ambac Financial, a bellwether of the financial crisis back in 2007, when the whole mess was still just the subprime ...Dewey, Other Firms Prepare for Possible Ambac BankruptcyThe Am Law DailyAmbac sees Chapter 11 by year-endCBC.caall 341 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEzIzTYQz48ohgBwZojfT6krPUecw&url=http://www.observer.com/2010/wall-street/ambac-goes-bankrupt
Foreclosure crisis puts Wall St. reform to the testWashington PostBut the government failed to foresee the ways the subprime mortgage crisis that began in 2007 would ripple through the economy, and now a Treasury official ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGQRLmc0s4mEnY-IR28r3lsh8b5-w&url=http://www.washingtonpost.com/wp-dyn/content/article/2010/10/21/AR2010102106315.html
Handling Finance: Crisis losses and rescue costsEconomic TimesThe subprime crisis of 2007 inflicted substantial losses on the financial sector as it unfolded over the next couple of years. These losses were estimated ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2Fq3gUtTzmfQlMpsmHolQfOXhXA&url=http://economictimes.indiatimes.com/opinion/columnists/t-t-ram-mohan/Handling-Finance-Crisis-losses-and-rescue-costs/articleshow/6745297.cms
Greenspan vs. Hedge Fund Mgr. Michael BurryABC News (blog)In today's New York Times a hedge fund manager, Michael Burry, who saw the sub-prime crisis coming and made a fortune betting against the market, ...I Saw the Crisis Coming. Why Didn't the Fed?New York TimesGreenspan: 'Double dip' recession odds have 'fallen very significantly' recentlyThe Hill (blog)Greenspan Says 'Momentum Building Up' in U.S. Economy (Update1)San Francisco ChronicleHoweStreet.comall 14 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fblogs.abcnews.com%2Fpoliticalpunch%2F2010%2F04%2Fgreenspan-on-short-seller-michael-burry.html&usg=AFQjCNHEzhdDyh0KHP1lFEpDumvUtUEU1Q
Denver Business JournalAllonhill sees opportunity in mortgage meltdownDenver Business JournalThe problem in the years leading up to the subprime crisis, many say, is that ratings agencies assigned strong AAA or AA ratings to pools of mortgages that ...
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fdenver.bizjournals.com%2Fdenver%2Fstories%2F2010%2F04%2F05%2Fstory11.html&usg=AFQjCNHqTMgLBjrGOAGtjW2sJNzC6S7NDA
IT firms first started trend of going outEconomic TimesFICCI studies show that even in 2008, when the global economy came under fire due to the US subprime crisis, Indian companies invested close to $13 billion ...and more »
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Read The Intro From Roger Lowenstein's New Book: “The End of Wall Street”Wall Street Journal (blog)Also, the subprime crisis had fully bled into Wall Street. Literally hundreds of billions of dollars of mortgages had been carved into exotic secondary ...Business Books.TIMEall 3 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fblogs.wsj.com%2Fdeals%2F2010%2F04%2F01%2Fread-the-intro-from-roger-lowensteins-new-book-the-end-of-wall-street%2F&usg=AFQjCNEACZOjOg2p4yPIpz08n_3mfIEdmQ
ReutersFed Pulls The Plug On Mortgage PurchasesWBURBut Guy Cecala, the publisher of Inside Mortgage Finance, says the subprime crisis "put a skull and crossbones on all mortgage-backed securities. ...Checks and balancesUniversity of Virginia The Cavalier Dailyall 304 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.wbur.org%2Fnpr%2F125358080&usg=AFQjCNHkKD0lqP2oaH_8lzaXpHbcc-5pyg
Don't blame greed for the financial crisisVancouver SunIn fact, there is only one problem with Lewis's technicolor account of the subprime crisis. When you strip away the color and the characters, ...and more »
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theyouarchive - for 'INFORMATION'... 'ANALYSIS'...'WISDOM'. This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on youtube - Please contact us and we'll see if we can locate and then upload it. theyouarchive
FOXNews (blog)How Chris Dodd's FinReg proposal solves the problem of information, but not of ...Washington Post (blog)It's easy to forget that the financial crisis began with one subprime mortgage, sold to one consumer, at a time. That's the argument behind the Consumer ...Chris Dodd's Incredibly Stupid Plan To Expand The Powers Of The FedForbes (blog)Dodd's 2nd shot at financial reform still leaves loopholesUSA TodayDodd unveils slimmed-down financial reform proposalLos Angeles TimesBusinessWeek -Post Chronicle -AOL Newsall 2,180 news articles »
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The Outsiders Who Foresaw The Subprime CrisisWBURNearly the whole financial system bought into subprime mortgages and the securities that were backed by them — and amounted to bundles of bad debt. ...Lewis on his book on 60 MinutesReuters (press release) (blog)Book Review: Investors Who Saw Crisis ComingNew York Times (blog)Steven Pearlstein reviews 'The Big Short' by Michael LewisWashington PostInvestor's Business Daily -Huffington Post (blog) -CNBCall 119 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.wbur.org%2Fnpr%2F124698825&usg=AFQjCNFFmPGnLxv9xuzb9TLxShjnk668OA
Excerpt
...the U.S. subprime crisis? Lombard Odier thinks the crisis is not over, and worse, a second wave is just ahead of us. Paul Marson, chief investment officer at the investment firm, thiknks that Alt-A and Option ARM (Adjustable Rates Mortages) mortgages are due...
Source Info
Reuters Blogs
http://blogs.reuters.com/globalinvesting/2009/12/15/remember-the-subprime-crisis/
Excerpt
Leslie Marshall is a nationally syndicated radio talk host and nationally televised political pundit.
As a guest on Jay Leno's new show recently, Rush Limbaugh stated that the subprime mortgage crisis can be blamed on: Barney Frank, Chris Dodd, Bill
Source Info
U.S. News & World Report
http://www.usnews.com/articles/opinion/2009/10/16/greed-caused-the-subprime-mortgage-crisis-not-acorn.html?s_cid=rss:greed-caused-the-subprime-mortgage-crisis-not-acorn
Some critics blame the Community Reinvestment Act for the mortgage meltdown that prompted the current deep recession. Others point to the abuses of subprime lending and Wall Street manipulation. Yet questions about the impact of the economic collapse on African American communities—and about the future of neighborhood stability, consumer access to credit, and the role of race in public policy—remain unanswered. As the federal government acts to reverse the economy's decline, what have we ...
Excerpt
On close inspection many of the most popular explanations for the subprime crisis turn out to be myths. Empirical research shows that the causes of the subprime mortgage crisis and its magnitude were more complicated than mortgage interest rate resets,
Source Info
Huffington Post
http://www.huffingtonpost.com/2009/07/23/10-myths-about-the-subpri_n_243447.html
blogs.mccombs.utexas.edu -- Dr. Leeds, senior finance lecturer at McCombs School of Business, reviews a myriad of entities who are to blame for the subprime crisis, among them - homebuyers, mortgage brokers, bankers, the Federal Reserve, US Treasury and the Security Exchange Commission.
Dr. Leeds, senior finance lecturer at McCombs School of Business, reviews a myriad of entities who are to blame for the subprime crisis, among them - homebuyers, mortgage brokers, bankers, the Federal Reserve, US Treasury and the Security Exchange Commission.
Los británicos tienen una forma muy peculiar de ver la vida... y la crisis económica. En este sketch del programa The Last Laugh, vemos cómo podría ser la explicación que un financiero diese a la crisis de las subprime.
Korea TimesThe Crisis Isn't Over YetKorea Times, South KoreaAlthough he wasn't explicitly referring to the onset of the current economic crisis, many may mistakenly believe that once the proper policy adjustments have been made and corporate malfeasants jailed that things will return to ``normal. ...
http://www.koreatimes.co.kr/www/news/opinon/2009/04/137_43534.html
Angus Reid Global MonitorAmericans Reject More Help to Car MakersAngus Reid Global Monitor, CanadaSince 2007, defaults on so-called subprime mortgages—credit given to high-risk borrowers—in the US caused volatility in domestic and global financial markets and ultimately pushed the US economy into a recession. A recession is defined as two ...
http://www.angus-reid.com/polls/view/33273/americans_reject_more_help_to_car_makers
Spectator.co.ukEconomic inactivity and the recessionSpectator.co.uk, UKAs you move down the chain, as we saw in the US subprime debacle, you start to lend to people who really have no capacity to pay," Das told the Toronto Star. "And then it becomes a true Ponzi game because you're assuming that he will then be able to ...
http://www.spectator.co.uk/coffeehouse/3551881/economic-inactivity-and-the-recession.thtml
CNNMoney.comRiders on the stormCNNMoney.comCara Heiden, co-head of the mortgage operation, says Wells' computer programs began flagging subprime mortgage applications from customers who could qualify for prime-priced loans. (Subprime loans carry higher rates and therefore pay higher fees to ...
http://money.cnn.com/2009/04/19/news/companies/lashinsky_wells.fortune/?postversion=2009042011
123Jump.comSmall Cap Wonders123Jump.com, FLA : We began to invest in Ocwen Financial Corporation, a subprime mortgage collector, loan servicer and receivable management services provider, last May. I took a quick look at it when it came up high on our scoring system. ...
http://www.123jump.com/mutual-fund/Walthausen%20Small%20Cap%20Value%20Fund/540/
Sydney Morning HeraldJames Packer: Fortunes of a gambling manSydney Morning Herald, AustraliaThat was the spring of 2007: James had by then sold most of the family's broadcast and publishing interests for more than $5 billion, before the ripples of the US subprime mortgage meltdown turned into a tidal wave. The sale caught the peak of the boom ...
http://www.smh.com.au/news/executive-style/management/james-packer-fortunes-of-a-gambling-man/2009/04/17/1240079578888.html
XinhuaJPMorgan Chase survives crisis by prudential risk controlXinhua, ChinaSeveral months before the US subprime mortgage crisis surfaced in the spring of 2007, JPMorgan had detected accumulated risks associated with subprime mortgage securities and other complex structured financial products as the US housing market bubble ...
http://news.xinhuanet.com/english/2009-04/20/content_11217456.htm
The subprime mortgage crisis in the US is being felt deeply by those in the business of selling homes. With property sales dipping across the country, property agents
CBS NewsCanadian Banks Avoided Mortgage MeltdownCBS News, NY"Our US subsidiaries did not do any subprime lending. Nothing. Zero," Clark said. "We just said, 'Stay away from this stuff. We know where this is going.'" Another villain in the financial crisis were toxic mortgage-backed securities - risky loans that ...
http://www.cbsnews.com/stories/2009/04/18/eveningnews/main4954231.shtml
CBS NewsBernanke: Innovation Needs RegulationCBS News, NYNew financial products, such as subprime mortgages and structured investment vehicles, have become symbols of the economic crisis. The challenge for the government is to come up with regulations that protect consumers without stifling innovation, ...Bernanke says financial innovation must be regulated properly XinhuaBen Bernanke: Financial Innovation Needs Regulation WJBF-TVall 352 news articles
http://www.cbsnews.com/stories/2009/04/17/business/main4952195.shtml
Property WireCanada seeing rise in foreclosuresProperty Wire, UKIn British Columbia subprime lenders were responsible for 42% of foreclosures last year. Officials in Canada claimed that as the country has more stringent financial and lending rules than in the US it would not suffer a sub-prime crisis but the ...
http://www.propertywire.com/news/north-america/canada-foreclosures-200904172959.html
Center For American ProgressIt's Still the Bush EconomyCenter For American Progress, DC... of bad economic decision after bad economic decision, and helped cause the crisis in the first place. What's more, Bush and company were AWOL per usual when presented with the opportunity to address, even fix, the risky subprime lending industry. ...
http://www.americanprogress.org/issues/2009/04/ta041609.html
EconomistHome ownership Shelter, or burden?Economist, UKSince the real problem lay partly in the mortgages, rather than the borrowers, this suggests the subprime crisis was a financial-market mess, as well as a housing one. Does that also imply that home ownership has the economic benefits that its ...
http://www.economist.com/finance/displaystory.cfm?story_id=13491933
Knowledge@WhartonHope, Greed and Fear: The Psychology behind the Financial CrisisKnowledge@Wharton, PATo explain the current economic crisis, the world of finance has a particular lexicon -- including, for example, credit default swaps, mark-to-market and securitized subprime mortgages. Psychologists, on the other hand, might use very different terms: ...
http://knowledge.wharton.upenn.edu/article.cfm?articleid=2204
Knowledge@WhartonA Thought for Tax Day: The Real Fiscal Crisis Is Yet to ComeKnowledge@Wharton, PASomewhat ironically, [the major banks] actually lost more money buying some of the safer [subprime-based] collateralized debt obligations, than they did with their investments in hedge funds, which bought some of the higher risk stuff. ...
http://knowledge.wharton.upenn.edu/article.cfm?articleid=2209
PoliticoNo clarion call from RepublicansPolitico, DCIn 2007, Chairman Frank introduced legislation to restrict sub-prime mortgages. The bill passed the House (127 Republicans voted against it) but was blocked by a Republican fillibuster in the Senate. In November 2008, the conservative Orange County ...
http://www.politico.com/news/stories/0409/21190.html
Knowledge@WhartonTata Group's Farrokh Kavarana: 'We Are Just Trying to Reclaim Our ...Knowledge@Wharton, PAHave AIG's problems with the subprime crisis in the US had any effect on your joint venture? In fact, it would be helpful to understand the Tata AIG venture and then to understand whether there has been an effect. Kavarana: I will not obviously speak ...
http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4368
Examiner.comEconomic crisis could have been avoided with better journalismExaminer.com"Government regulators were rating subprime mortgages AAA; so it didn't catch journalist's attention," Mr Byrne said. AAA is the highest rating available. What is going to happen as newsrooms continue to shrink? Will journalists have enough time and ...
http://www.examiner.com/x-4519-SF-News-Media-Examiner~y2009m4d9-Economic-crisis-could-have-been-avoided-with-better-journalism
Excerpt
...question and answer period, Joel Pollak tried to question Congressman Frank about the extent of his role in the subprime mortgage crisis. After a rather heated exchange in which Barney Frank interrupted Joel Pollak several times, Frank offered an answer wrapped...
Source Info
Associated Content
http://www.associatedcontent.com/article/1633294/barney_frank_gets_caustic_with_joel.html
DePauw UniversityJames B. Stewart '73 Discusses Economic Crisis at Wooster ForumDePauw University, INThe Daily Record of Wooster, Ohio reports, "A Pulitzer Prize-winning columnist for the Wall Street Journal said the term subprime mortgage was a relatively new one for him when it became the turning point in a crisis. James Stewart was one of three ...
http://www.depauw.edu/news/?id=23305
Council on Foreign RelationsG-20 Summit Deal is Potential 'Turning Point'Council on Foreign Relations, NYAnd that is really the background to what went wrong in the subprime crisis. And to avoid that being repeated in the future, you have to persuade these surplus countries like China, like the other emerging market countries that have run export ...G20 to give IMF major funding boost: minister AFPAnalysis: But will it work? Washington Timesall 938 news articles
http://www.cfr.org/publication/19026/g20_summit_deal_is_potential_turning_point.html?breadcrumb=%2Fpublication%2Fpublication_list%3Ftype%3Dinterview
Wabash CollegeCalomiris Analyzes Mortgage CrisisWabash College, INby Greg Slisz '10 An analysis of the subprime mortgage crisis was the topic Rogge lecturer Charles Calomiris. Calomiris aimed to "look at what’s old and what’s new [in the crisis] and look from a perspective both of the origins of the crisis, ...
http://www.wabash.edu/news/displaystory.cfm?news_ID=6917
Jamaica GleanerA financial apocalypse?Jamaica Gleaner, JamaicaThe financial crisis comes with a whole new vocabulary for those of us with less financial savvy to learn: words like subprime, credit-crunch, mortgage-backed-securities, among others. In this series of articles, CaPRI will attempt to navigate through ...
http://www.jamaica-gleaner.com/gleaner/20090402/business/business1.html
BloombergBank Watchdogs Snooze Before the Biggest HeistsBloombergHaving missed the last 216 crises -- including the savings & loan crisis, the Latin American debt crisis and the current thank-God-it’s-contained-to-subprime crisis -- regulators, operating under a new framework, are almost certain to identify No. ...
http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_baum&sid=a8XSXLwtDD9c
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