Washington Post
By Karen Gullo and David Scheer

Nov. 20 (Bloomberg) — U.S. prosecutors and the Securities and Exchange Commission are investigating Wachovia Corp.’s mortgage lending and disclosures to investors, U.S. Attorney Joseph Russoniello said. (more…)

legalnewsline.com
BY SCOTT SABATINI

Oakland, Calif. (Legal Newsline) – Just a month ago, when the terms of the largest settlement in home mortgage history were announced, many hailed the settlement as the first significant step to providing needed relief to homeowners buried in rising interest rates and declining property value. (more…)

The Wall Street Journal

Your post-election day editorial attack on community organizers (“The Latest Charity Shakedown,” Nov. 5 – See Below) is inconsistent with the Journal’s recent strong support for transparency and scrutiny of the Wall Street firms that have helped cause the economic meltdown. (more…)

Do you know the color of your donees?
The Wall Street Journal

What if the Greenlining Institute held a shakedown and nobody paid up?

The Berkeley-based outfit invited representatives from America’s top 50 foundations to come to their offices two weeks ago for a chat on the urgent national priority of “diversity in philanthropy.” Among the questions posed: “What percent of the asset management firms under contract with your foundation are minority-owned?” We’re delighted to say that not a single one of the foundations sent Greenlining any data and no one showed up to the meeting. Maybe they’re starting to catch on to this con game. (more…)

By RACHEL RASKIN-ZRIHEN/Times-Herald staff writer
www.timesheraldonline.com

A leading lender has announced it will impose a temporary foreclosure moratorium following calls by two Solano County government bodies hit hard by the sub-prime mortgage crisis.Chase Home Lending CEO David Lowman announced the bank has implemented a temporary foreclosure moratorium in all Solano County cities, said Bob Gnaizda general council for Greenlining Institute, a California-based national nonprofit promoting home ownership for those living paycheck to paycheck. (more…)

For all the government’s actions to prop up the markets, credit tightened again last week and stocks sold off worldwide. Rather than confidence, fear of global recession has taken hold – and for good reason. (more…)

American Banker | Friday, October 24, 2008
By Robert Gnaizda and Jorge Corralejo

Last week the secretary of the Treasury and the chairman of the Federal Reserve Board decided to save the American banking industry from its follies by partially nationalizing the banks through an infusion of $250 billion of taxpayer funds. (more…)

Interest rates on some subprime and ‘option ARM’ loans will temporarily go as low as 2.5%.

Insurance Newscast

During this time of economic recession California’s Insurance Commissioner has given away 6.9 percent rate increases to major insurance companies without public scrutiny. (more…)

The Wall Street Journal

The state should spend less before calling on Uncle Sam.

With credit markets in New York in crisis last week, California Gov. Arnold Schwarzenegger sent an extraordinary letter to Treasury Secretary Henry Paulson asking for $7 billion. Although the governor has since withdrawn that request, it testifies to the dire state of his budget. (more…)