Among a host of other issues, one the critical things that contributed to the housing crisis of 2008 was the fact that speculative borrowers had nearly no "skin in the game." Anyone who decided they.. Zero Hedge
Ten years ago in May, Federal Reserve Chairman Ben Bernanke said the problems in the U.S. subprime mortgage market probably would not hurt the economy or the banking system. Erm, no. To put it mildly,.. Source: Wochit Business -
The head of Bank of America, the United State's fourth-biggest mortgage lender, said on Thursday banks would be able to supply a bigger share of funding for home purchases if the standard down payment.. Source: Wochit Business -
Trump appointed Craig S. Phillips, who contributed to the 2008 financial crisis at Morgan Stanley, to take care of FannieMae and FreddieMac, explains white collar criminologist Bill Black Source: Real News Network - Affiliate -
*Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.*
Following the 2008 mortgage crisis, the biggest financial institutions in the country were given a.. Business Insider
Following the 2008 mortgage crisis, which led to a $700 billion government bailout, the biggest financial institutions in the country were given a light tap on the wrist in fines and penalties. None.. Business Insider
For months we've written about the imminently doomed auto bubble in the U.S., spurred in no small part by an unprecedented relaxation of underwriting standards by banks that would put even the.. Zero Hedge
The big TV networks have been throwing a lot of punches at Facebook and Google this week.
The top broadcast and cable networks are hosting their annual 'upfront' presentations in New York this.. Business Insider
Gold investors are worried about record high valuations in the S&P 500, despite the fact that gold stocks have shown a negative correlation to the general equities since 2011. The reason for this.. Zero Hedge
So what do you do when you've pulled forward every single car sale you possibly can courtesy of low interest rates, lengthening terms and generally loosening credit standards targeting incremental.. Zero Hedge
Apparently Bloomberg and some auto executives are convinced that soaring car prices are the reason that sales are starting to slump. Bloomberg attributes the problem to new, costly technology being.. Zero Hedge
On a recent visit to New York City, Israeli design student Iftach Gazit spent some time with Manhattan's homeless to see what an average day looks like for them.
He discovered the importance of the.. Business Insider
Online lenders have been facing an uphill battle recently as investors question whether they are truly getting the loan transparency they need to confidently invest in this young industry. Investors,.. Business Insider
Back in 2007/2008, Wall Street drastically pulled back on mortgage origination for their own balance sheets while ramping up their issuance of RMBS securities. Of course, the goal was very simple:.. Zero Hedge
A multi-billion dollar hedge fund firm is shutting down one of its key strategies.
San Francisco-based Passport Capital is shutting its long-short equity fund, which managed about $833 million,.. Business Insider
· *Department stores are shutting hundreds of locations, many of which are anchor tenants in malls.*
· *When the malls lose such huge tenants they can wind up defaulting on debt that has been.. Business Insider
Authored by Michael Hudson via NakedCapitalism.com,
*Nobody yet can tell whether Donald Trump is an agent of change with a specific policy in mind, or merely a catalyst heralding an as yet.. Zero Hedge
Nobody yet can tell whether Donald Trump is an agent of change with a specific policy in mind, or merely a catalyst heralding an as yet undetermined turning point. His first month in the White House.. Eurasia Review
In 2000, the Clinton administration commissioned a secret report called Life After Debt. The federal government had managed to run a budget surplus every year since 1997, having failed to do so at all.. City A.M.