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Tag: Subprime Lending


AP/Carolyn Kaster

Obama Did It for the Money

The president has chosen to fill two key Cabinet positions dealing with business practices with people who specialized in financial rip-offs.

Posted on May 7, 2013 READ MORE



AP/Carolyn Kaster

Obama Selects Billionaire Campaign Backer as Commerce Secretary

Barack Obama has once again dropped all pretenses of being a progressive president by nominating Penny Pritzker—a major campaign contributor with a personal fortune estimated at $1.85 billion and a history of dogging bank regulations—to head the Commerce Department.

Posted on May 2, 2013 READ MORE



Poster Boy NYC (CC BY 2.0)

Subprime Student Lending

Banks gave money to needy college students without considering whether borrowers could repay, then bundled and resold the loans to avoid losing money when students defaulted—lending practices that mirror the run-up to the subprime mortgage crisis.

Posted on Jul 21, 2012 READ MORE


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