Truthdig - Tag - Subprime Lending

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Trending: chris hedges economy elizabeth warren politics robert scheer

Rise Up or Die

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Tag: Subprime Lending

AP/Carolyn Kaster

Obama Did It for the Money

By Robert Scheer —

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.