Mar 22nd 2010 3:50PM
While House reps sleep in after their weekend health care marathon, this afternoon the Senate Banking Committee starts poring over the financial reform bill introduced by Senator Christopher Dodd (D-CT). A little detail in there is set to have a huge impact. It boils down to a prudent bit of behavior known colloquially... Continue Reading »
Mar 5th 2010 9:45AM
Late on your mortgage? Did you know you might be able to negotiate a 20 percent reduction in what you owe? Josh Rosner, a financial analyst specializing in mortgage-backed securities, says that lenders know that if a home goes into foreclosure, the lender will lose 60 percent or more. So what's stopping them? The banks... Continue Reading »
Jan 18th 2010 9:45AM
One of the more interesting observations in the Financial Crisis Inquiry Commission hearings last week came not from the witness stand, but from one of the commission members. In his questioning, Byron Georgiou, a lawyer who played a lead role in the Enron prosecutions (and pictured left), called attention to the conflicts... Continue Reading »
Jan 4th 2010 8:00AM
Will the cramdown survive into the next decade? Banks have successfully lobbied against many proposed financial reforms, but perhaps none more strenuously than the cramdown -- a court-ordered reduction of a mortgage loan's outstanding principal. Although lowering principal is arguably one of the most effective ways to... Continue Reading »
Dec 16th 2009 11:00AM
Is consumer frustration with the slow pace of loan modifications finally becoming more than silent resentment? If Monday's protest at the New York offices of JPMorgan Chase is any indication, the answer might be yes. With a little goading from the president, who on Sunday called America's bank presidents "fat cats," a new... Continue Reading »
