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November 21st, 2008
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. Read the rest of this entry »
November 11th, 2008
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. Read the rest of this entry »
November 11th, 2008
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. Read the rest of this entry »
November 5th, 2008
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. Read the rest of this entry »
November 4th, 2008
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. Read the rest of this entry »
October 28th, 2008
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. Read the rest of this entry »
October 24th, 2008
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. Read the rest of this entry »
October 24th, 2008
Interest rates on some subprime and ‘option ARM’ loans will temporarily go as low as 2.5%.
By E. Scott Reckard
October 24, 2008
With calls growing for stronger action to help troubled homeowners, consumer advocates are hailing a mortgage-modification program being implemented by Bank of America Corp.’s Countrywide unit as the most ambitious effort yet to avert foreclosures.A key lawmaker is demanding that other mortgage lenders adopt the program, which was called for by a settlement of state lawsuits alleging that Countrywide borrowers were systematically tricked into taking out unaffordable loans. Read the rest of this entry »
October 22nd, 2008
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. Read the rest of this entry »
October 16th, 2008
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. Read the rest of this entry »
