Banks Block State’s Attempts to Help Homeowners

Here’s a shocker.  Arizona has been given millions from the federal government to help distressed homeowners.  Guess who won’t play ball?  Hint: it’s not the homeowner. Arizona Republic, Arizona Trying New Ways to Assist Homeowners by Catherine Reagor, full article here: Officials and housing advocates say mortgage lenders are the reason for the  breakdown: Much of […]

Freddie Doing Backdoor Bailout?

Today’s WSJ has an article about a new watchdog report criticizing dubious cheapo settlements Freddie and Fannie Mae entered into with BoA Freddie Faulted on Mortgage Reviews by Nick Timiraos, WSJ Full Article A federal watchdog said Freddie Mac may have given up opportunities to recover billions of dollars in claims over defaulted mortgages and […]

Robust New CFTC Whistleblower Bounty Program Goes Into Effect

Harvard Blog Corporate Governance and Financial Regulation On August 4, 2011, the Commodity Futures Trading Commission (CFTC or Commission) voted 4-1 to adopt final regulations implementing the whistleblower incentives and protections set forth in Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). See 76 Fed. Reg. 53172 (Aug. 25, 2011) (to be […]

Countrywide Retaliated Against Whistleblowers

Yes, I know, the cynical among us are less than shocked at another story about Countrywide’s widespread fraud and coverup.  And yet it still has the power to gross us out, especially given the lack of commensurate punitive measures… Former Countrywide Employees Blow Whistle on Fraud–End Up Shitcanned

A Word From a Maine Attorney

This was written by Tom Cox for O.Max Gardner III’s blog, full post here: Back when I was on the side of the financial institutions, I really do believe that they were mostly honest.  During the S & L crisis of the late 80s and early 90s when there was a significant increase in loan […]