Former officials with the mortgage giants testified that they loaded up on subprime loans and securities to meet “government-mandated housing goals” for low-income borrowers with typically weak credit.
Post Tagged with: "Wall Street"
Debt disaster dead ahead
Even White House budget director Peter Orszag, who you’d hope would have some sort of plan for our fiscal future, recently said, “We’re on an utterly unsustainable path.”
California is a greater risk than Greece, warns JP Morgan chief
Jamie Dimon, chairman of JP Morgan Chase, has warned American investors should be more worried about the risk of default of the state of California than of Greece’s current debt woes. Last summer, California issued $3bn of IOU’s to creditors including residents owed tax refunds as a way of staving off a cash crisis.
Obama is Owned — You Can Bank On It by Ann Coulter
How about just punishing the guilty? The Democrats can’t do that because the list of Wall Street’s biggest offenders may turn out to be eerily similar to the list of Obama’s biggest campaign contributors.
SEIU’s Secret Weapon: If Obama’s Plan Fails, Brandish the Shareholder Resolution
But the telltale signs of big labor’s influence over the President’s agenda clearly surfaced on January 21st, when Obama announced a major crackdown on Wall Street banks.