Posts tagged Congress

• Paul Krugman is on the Edge

  Paul Kiesel | February 06, 2009 7:53 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  As the economy remains stagnant or contracts into a more depressing declivity, reports of the number of job losses from January coming in and continuing to rise (600,000 and counting; not to mention...

• Bush and the Economy or Beating a Dead Horse

  Paul Kiesel | December 23, 2008 7:20 PM | 2 CommentsLos Angeles, CA Category: Miscellaneous
  

  The New York Times published an article Sunday that broadly examines President Bush's role in our current economic turmoil (how Mr. Bush and his administration held the country's hand and led us...

• Interim Head of Government Bailouts, Neel Kashkari, Called a "Chump" by One Congressman, While Another Compares Him to Mel Gibson

  Paul Kiesel | November 14, 2008 7:09 PM | 2 CommentsLos Angeles, CA Category: Miscellaneous
  

  Neel Kashkari, the interim head of the Troubled Asset Relief Program (aka the Treasury Department's $700 billion financial rescue plan or TARP), came under heavy fire today at a House Oversight and...

• Rep. Barney Frank: No "Free Rides" for People Facing Foreclosures

  Paul Kiesel | November 13, 2008 4:22 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  House Committee on Financial Services Chairman Barney Frank noted yesterday that a bailout program for troubled homeowners is needed to prevent the foreclosure crisis from spinning out of control....

• Downey Savings: We Need a Cash Infusion

  Paul Kiesel | November 12, 2008 8:58 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Downey Savings might be the next bank to require government intervention (i.e. see FDIC IndyMac), as its most recent quarterly filing cites a significant risk that the bank will not be able to raise...

• Washington Mutual's Lending Operation: A Boiler Room Environment

  Paul Kiesel | November 04, 2008 3:26 PM | 5 CommentsLos Angeles, CA Category: Miscellaneous
  

  Yesterday, the New York Times reported on a senior mortgage underwriter who had, previous to the subprime and pay option ARM loan boom, been proud of her ability to spot fraud and other problems in...

• JPMorgan Chase: 90 Day Foreclosure Moratorium

  Paul Kiesel | November 03, 2008 8:10 PM | 2 CommentsLos Angeles, CA Category: Miscellaneous
  

  JPMorgan Chase will not be putting any more homes into foreclosure over the next 90 days, as it comes up with a loan modification plan geared towards keeping borrowers in their homes. In a press...

• White House to Ease Many Rules Aimed at Protecting Consumers

  Paul Kiesel | October 31, 2008 6:41 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Media outlets and blogs have been reporting for the past two weeks that the White House is working to enact a wide array of federal regulations, which would strip many government rules that protect...

• It Could Happen to Anybody...

  Paul Kiesel | October 30, 2008 9:02 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Here's an excellent piece written by Mike Cassidy of the San Jose Mercury News on the realities of the foreclosure crisis, which has yet to be abated by the government or lenders. Mr. Cassidy's...

• Reuters: Microsoft Warns of Financial Crisis E-mail Scams

  Paul Kiesel | October 29, 2008 3:58 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Loan modification scams are becoming more prevalent as most of the nation, along with nefarious scam artists, is aware of the $700 billion financial bailout that was passed weeks ago. Congress and...