What really led to economic collapse.
subprime loans
Subprime Responsibility
I was reading Treasury Secretary Paulson’s: Remarks on U.S. Housing Market before FDIC’s Forum on Mortgage Lending to Low and Moderate Income Households, and wanted to point out an excerpt from that speech which negatively caught my attention: ..Due to the lax credit and underwriting standards of the past years, some people took out mortgages [...]
Bring Back George!
Forget Bernanke, forget Paulson, forget FDIC Chief Sheila Bair.. Let’s bring back George to fix things. Continued Housing Downturn Drives First Quarter Thrift Industry Loss
Subprime Primer
Now that the Fed has taken historic steps to bailout the investment bank Bear Stearns, they’ll be renewed interest in how this whole subprime debacle got started and how it reached today’s proportions. There’s a good article posted on Wikipedia describing the history of the subprime mortgage crisis, the roles of those involved, and it’s [...]
Getting Radical
Since I previously wrote an article describing a pharmacist as a victim of financial fraud, why not create another post describing a pharmacist as a perpetrator (alleged) of financial fraud? That’s right, and serious financial fraud too. According to excerpts from a recent SEC press release: The Securities and Exchange Commission today charged four promoters [...]