Helpers or Hucksters? A Look at ‘Mortgage Mod’ Firms
It seems like a gruesome business: A homeowner is floundering, in real danger of foreclosure. The mortgage mod salesman swoops in and offers salvation -- for a fee (typically thousands of dollars) -- by helping renegotiate loans. Whether that salvation ever comes is another matter.
Such offers, as the Washington Post reported over the long weekend, is a growing business and one worrying federal and state regulators because homeowners should be able to get loan modification help from nonprofits, which charge nothing or next to … more…
Bailout II: Bail Harder
In order to keep tabs on how the Treasury Department is handling the $700 billion bailout, Congress split up the payments. The first $350 … more…
AIG’s Risk Models Missed Major Risks
It seems just about every week we hear about more money the government is funneling to insurance giant AIG. Today’s Wall Street Journal … more…
Bailed Out Banks and Their Billions in Special Bonuses
With the noises from Congress growing louder, Wall Street says it’s getting the message. Top executives are "in discussions to possibly … more…
Did AIG Hide Its Losses?
Since mid-September, the government has doled out hundreds of billions in loans. And so far, the bailout of AIG seems by far the riskiest … more…
Gitmo Tribunal: Things Fall Apart
Prosecutors at the war crimes tribunals in Guantanamo Bay can’t be feeling very upbeat nowadays. Over the last six months, nearly every … more…
Dems Warn Banks: Lend Bailout Money—or Else
We’ve been pointing out for the past week that the government’s bailout money to banks doesn’t actually require the banks to lend out the … more…
Banks to Use Bailout Bucks for Mergers
The Treasury Department’s capital injection program is well underway, with more than $150 billion total now promised to around 30 banks. … more…
Why Did Treasury Allow Lehman to Fail?
Many economists say one of the key triggers for the credit markets’ near collapse was the fall of Lehman Brothers. The government’s … more…
Gitmo Dismissals Don’t Include One of Most Problematic Cases
The Pentagon yesterday dismissed war crimes charges against five detainees at Guantanamo Bay. The military's short press release gave no … more…
Admin on Gitmo: We’re Staying the Course
In perhaps one of the least surprising developments of recent months, the New York Times, citing "senior administration officials," … more…
