mortgages

he money that the government spends on a failed modification goes to banks, not homeowners. Typically, the government will have substituted an FHA insured mortgage for the original mortgage issued by a bank. This means that when a…

This is a post by Bill Black and Eliot Spitzer which originally appeared at New Deal 2.0. Bill Black is an associate professor of economics and law at the University of Missouri – Kansas City (UMKC). He was the executive director of the…

This PBS Frontline film on foreclosures first aired in October.

Paulson Letter on Abacus AC1

When I first wrote about the case against Goldman Sachs for fraud on Friday I said that my reaction was "largely positive" as fraud was a major factor in what led to crisis and it is high time regulators started to acknowledge this.…

Goldman's Abacus 2007 AC1 Indicative Terms

David Rosenberg was out over the past week with some pretty large numbers supporting the thesis that strategic defaults are driving retail sales. In his daily piece last Friday, he said: To repeat, what has driven consumer spending in…

From the SEC: The Securities and Exchange Commission today charged Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime…

Econbrowser: More on oil prices and the economic recovery FT.com - John Gapper - A short story of a star hedge fund The scandalous Lehman CME auction | Felix Salmon A Thin Case: Ex-RAF Terrorist to Stand Trial for 1977 Murder - SPIEGEL…