Chaos in the Market: How Might It Affect the 2016 Presidential Race?

Eugene Robinson / Truthdig Aug 25, 2015 If the global swoon in stock prices were to turn into something more serious, which candidates would benefit? Dig deeper ( 3 Min. Read )

Subprime Student Lending

Alexander Reed Kelly / Truthdig Jul 21, 2012 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. Dig deeper ( 1 Min. Read )

Recession Economics According to Rick Santorum

Staff / Truthdig Feb 28, 2012 Did you know that it was actually jumping gas costs, and not deceptive lending practices on the part of mortgage financiers and deregulation madness on Wall Street, that got us into the recessionary quandary in which the majority of Americans still find themselves? Dig deeper ( 1 Min. Read )

Banks, Gov’t Strike $25B Deal in Foreclosure Fraud Settlement

Staff / Truthdig Feb 9, 2012 On Thursday, state and federal government representatives announced that five major banks -- Wells Fargo, Bank of America, Ally Financial, Citigroup and JPMorgan Chase -- had agreed to pay their part in a settlement of more than $25 billion stemming from the mortgage market meltdown that caused millions of Americans to lose their homes.On Thursday, state and federal government representatives announced that five major banks had agreed to pay their part in a settlement of more than $25 billion stemming from the mortgage market meltdown. Dig deeper ( 1 Min. Read )

Meet the Obscure Federal Regulator Who’s Not Helping Homeowners

By Cora Currier, ProPublica Feb 8, 2012 Fannie and Freddie are required to help homeowners while earning profits so they can pay back the taxpayers who bailed them out. Here is our guide to the little-known federal regulator, Edward DeMarco, ultimately in charge of the two companies. You may have never heard of him, but as The Washington Post put it, he’s “the most powerful man in housing policy.” Dig deeper ( 4 Min. Read )

Report: Freddie Mac Stacked the Deck Against Homeowners

Staff / Truthdig Jan 31, 2012 A joint investigation by NPR and ProPublica has rustled up some disquieting trading practices on the part of Freddie Mac that suggest the taxpayer-run mortgage company hasn't exactly done its darndest to help struggling Americans hold on to their homes -- in fact, the opposite may be more the case. Dig deeper ( 1 Min. Read )

SEC Slaps Former Fannie, Freddie Execs With Fraud Charges

Staff / Truthdig Dec 17, 2011 It's a start, but let's hope Friday's fraud charges against six former higher-ups at Fannie Mae and Freddie Mac don't represent the only attempts that the Securities and Exchange Commission will make to hold financial executives responsible for the disastrous economic mess that's still upon us. Dig deeper ( 1 Min. Read )

Truthdiggers of the Week: Two Mortgage Meltdown Whistle-Blowers

Staff / Truthdig Dec 10, 2011 It's all too rare that a mainstream news network goes after just the sort of financial heavy hitters that tend to have ties to their own corporate sponsors, but thankfully, that's what CBS News' "60 Minutes" did last weekend with the help of two principled mortgage specialists. Dig deeper ( 2 Min. Read )

Obama’s Fatal Addiction

Robert Scheer / Truthdig Mar 30, 2011 Maximizing corporate profits at taxpayers' expense is what top CEOs are good at, and after all it was Jeffrey Immelt who presided over GE when it got so heavily into the subprime mortgage business that it needed a government bailout to avoid bankruptcy. This was before Obama made him a trusted adviser.Overdrive, with CEOs like GE's Jeffrey Immelt shifting the gears, is what brought us so close to the brink. Dig deeper ( 4 Min. Read )

Goldman Sachs to Gently Tweak Business Practices

Staff / Truthdig Jan 11, 2011 Despite drawing the wrong kind of attention to themselves over the last two-plus years with news of murky dealings in "structured products" and concern over the bank's role in the subprime mortgage crisis, execs at Goldman Sachs apparently . Dig deeper ( 2 Min. Read )

Fannie Mae and Freddie Mac Run Up Huge Tab for Taxpayers

Staff / Truthdig Oct 22, 2010 So, remember that whole bailout thing that began a couple of years ago? It's not over yet, at least not when it comes to those delinquent housing giants Fannie Mae and Freddie Mac According to new government projections, the Fannie and Freddie bailout fiasco could (continued). Dig deeper ( 1 Min. Read )

Obama Pulls a Pocket Veto on Foreclosure Bill

Staff / Truthdig Oct 8, 2010 "The large print giveth and the small print taketh away," as one wise troubadour put it, and luckily for struggling homeowners, President Obama took a good look at a bill that had cleared Congress and flexed his executive powers to send it back Thursday. Dig deeper ( 1 Min. Read )