Subprime

Elizabeth Warren pursues Oversight, through TARP Maze

originally posted 2009-04-12 21:29:02 -0500, bumped by carol

Elizabeth Warren was appointed chair of a newly created Congressional Oversight Panel (COP), which is charged with keeping tabs on the $700 billion bailout of the financial sector - including Troubled Assets Relief Program (TARP).

Warren however, has had some "Trouble" getting straight forward answers ... as she explained to the Boston Globe:

Keeping tabs on the bailout

By Elizabeth Warren -- April 12, 2009

    Elizabeth Warren: There's a major problem and a minor problem. The minor problem is documentation. I've spent four weeks now looking for someone who can give me the details of the stress test so that we can do an independent evaluation of whether the stress test is any good.

    We get: "someone will call [you] right back." Only the call doesn't come. The major problem is ...

Subpriming with Michael Lewis

When I returned to the United States in 1990 after spending most of the previous six years in Africa, one of the first books I read was Michael Lewis's Liar's Poker. I wanted to catch up with a culture that had moved away while I was away. It boggled my mind; all I could think of was Sammy Glick, in Budd Schulberg's classic What Makes Sammy Run? It turns out that I wasn't wrong to make that connection. Schulberg, who is now 94, has spent his life since creation of Sammy fending off those who would thank him for providing a roadmap to Hollywood success.

Freddie Mac hit the Brakes, on the Easy Credit Party

great collection of data, again, by jamess. Originally posted 2008-10-10 13:58:16 -bumped, cho

These guys were perfectly happy to get you into that New Home, "No Matter what it takes," during the hay-days of the Ownership Society.

Strawman Buys A House

Mark Hamblett/NYLJ: Three Plead Guilty in Multimillion-Dollar Subprime Scheme:

Accused of using false documents and straw buyers to obtain loans fraudulently, the three were among 26 people indicted in the subprime scheme.

Some little piggies went to market, more little piggies stole homes, and these little piggies cry "wee, wee, wee" all the way to the federal joint.
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