Read more subprime mortgages stories on Newserhttp://www.newser.com/taggrid/1775/subprime-mortgages.html2009 - Newseren-usNewser Feed GeneratorTue, 24 Nov 2009 18:12:16 CSThttp://www.newser.com/story/73095/goldman-seizes-homes-as-securities-sour.html?utm_source=syn&utm_medium=rss&utm_campaign=tagImagine finding yourself in a foreclosure battle and discovering that your opponent isn't the obscure lender who wrote your insane mortgage, but the formidable Goldman Sachs. It seems that after years of buying subprime mortgages and packaging them into bonds, at a handsome profit, Goldman is now in the business...http://www.newser.com/story/73095/goldman-seizes-homes-as-securities-sour.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 02 Nov 2009 8:21:51 CSThttp://www.newser.com/story/71754/first-major-financial-crisis-trial-begins.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe first major criminal trial against top Wall Street execs involved in the financial crisis kicked off in New York yesterday. Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin are accused of misleading investors in a desperate attempt to stop them from abandoning the funds, even as they...http://www.newser.com/story/71754/first-major-financial-crisis-trial-begins.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 15 Oct 2009 2:43:00 CDThttp://www.newser.com/story/71370/watchdog-feds-need-to-expand-foreclosure-plan.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe Treasury's $50 billion loan-modification program is in danger of being swamped as the foreclosure crisis accelerates, the Congressional Oversight Panel said in a report yesterday. The Home Affordable Modification Program has met its target of 500,000 trial mortgage modifications started by November 1, but the watchdog warned that...http://www.newser.com/story/71370/watchdog-feds-need-to-expand-foreclosure-plan.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSat, 10 Oct 2009 5:00:00 CDThttp://www.newser.com/story/64815/subprime-salesmen-now-refinance-experts.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe market for subprime mortgages may have dried up, but former salesmen have found a new calling: as loan modification advisers who help clients refinance the high-risk loans they used to sell, reports the New York Times . For a fee of around $3,500—the bulk paid upfront—former subprime...http://www.newser.com/story/64815/subprime-salesmen-now-refinance-experts.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 20 Jul 2009 7:38:57 CDThttp://www.newser.com/story/63783/one-man-to-blame-at-aig.html?utm_source=syn&utm_medium=rss&utm_campaign=tagAIG’s contribution to the world financial crisis may be bafflingly complex, but a single villain is emerging, writes Michael Lewis in Vanity Fair . Joseph Cassano was a "cartoon despot" who ran AIG's Financial Products division, now infamous for its credit-default swaps. Cassano, unfortunately, "didn’t fully understand all the calculations and...http://www.newser.com/story/63783/one-man-to-blame-at-aig.html?utm_source=syn&utm_medium=rss&utm_campaign=tagTue, 07 Jul 2009 19:31:23 CDThttp://www.newser.com/story/59202/credit-crisis-traps-nyt-economics-scribe.html?utm_source=syn&utm_medium=rss&utm_campaign=tagNew York Times economics reporter Edmund Andrews was smart enough to avoid a financial disaster like the mortgage crisis. But “I had two utterly compelling reasons for taking the plunge,” he writes: “The money was there and I was in love.” With a new fiancée—and back-breaking alimony payments to...http://www.newser.com/story/59202/credit-crisis-traps-nyt-economics-scribe.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSat, 16 May 2009 18:55:08 CDThttp://www.newser.com/story/59175/foreclosure-crisis-wallops-minority-neighborhoods.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThe national foreclosure crisis is battering minority neighborhoods with disproportionate force, the New York Times reports. Few areas in the New York region have been untouched by the crisis, but 85% of the worst-hit neighborhoods have a majority of black and Latino homeowners. Experts blame the trend on subprime lenders'...http://www.newser.com/story/59175/foreclosure-crisis-wallops-minority-neighborhoods.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSat, 16 May 2009 6:44:17 CDThttp://www.newser.com/story/58545/mini-madoff-scammed-churchgoers-blames-banks.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFor some, 2009 may be remembered as the year of the Ponzi scheme: Last year, federal regulators prosecuted 13 such scams, but in just the first few months of this year, they’ve already filed 22 cases, reports ABC News. One recent bust is Long Island's Peter Dawson, who stiffed fellow...http://www.newser.com/story/58545/mini-madoff-scammed-churchgoers-blames-banks.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSun, 10 May 2009 13:26:24 CDThttp://www.newser.com/story/58217/top-subprime-lenders-owned-by-bailout-banks.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSome 21 of the top 25 subprime lenders that triggered the global economic collapse were either owned or financed by banks that ended up needing bailouts, an analysis by the Center for Public Integrity finds. Among the backers, who make huge profits on the subprime business, were Lehman Brothers, Merrill...http://www.newser.com/story/58217/top-subprime-lenders-owned-by-bailout-banks.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 06 May 2009 9:28:53 CDT