Subprime fallout continues in 2012

It was the summer of 2007. We waited for mortgage lending to explode (or implode). If you recall, Bear Sterns had problems that shocked everyone, HSBC announced the first subprime mortgage losses, and Lehman Brothers said Lehman was not associated or affiliated with subprime borrowers. Bear Sterns is gone, Lehman had egg on their face, …

Third Anniversary of Lehman Brothers Collapse

Thursday, September 15, 2011, marked the third anniversary of Lehman Brothers failure, which occurred as doubts about the firm’s solvency caused other banks to stop providing short-term loans, leaving Lehman unable to conduct business. Its collapse nearly brought down the US banking system and sent shock waves through the world economy that are still being …

Top 25 Subprime lenders and biggest losers

For many years it has been our opinion that predatory lending became the acceptable norm, followed by a period of aggressive Wall Street greed. When predatory became subprime, and with regulators totally asleep, these 25 institutions effected the entire world economy: Countrywide Financial Corp. Amount of Subprime Loans: At least $97.2 billion Ameriquest Mortgage Co./ACC …

Discover root of subprime like many heads of Hydra

While the song and dance of mortgage blues and tainted paper certainly is not good for the United States, it is not good for other countries either. The true scale of the jobs disaster facing Britain is revealed today as experts issue dire warnings that up to half a million workers will lose their jobs …