Category Archives: TARP

Book Tour Day 1: Pessimism, Hope and Note Cards


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My first day in New York City to promote the release of Way Too Big to Fail was a whirlwind, as expected.  I arrived into JFK at 6:00 AM and headed into Manhattan for my first stop at the Cornell … Continue reading

Posted in Attorneys General, bailout, Dan Rather, due diligence firms, Government bailout, hedge funds, mortgage market, Neil Barofsky, putbacks, re-underwriting, Regulators, RMBS, securities, securities laws, securitization, TARP, The Subprime Shakeout, Timothy Geithner, too big to fail, Treasury, Wall St., Way Too Big to Fail, William Frey | Leave a comment

Wikipedia Loan Modification Page Offers Concise Look at History and Current Programs, Ignores Government Failures


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I get frequent questions about loan modifications and resources for learning more about available programs. Those interested in learning more about this subject at the heart of the current financial crisis should start with the Wikipedia page entitled “Loan Modification … Continue reading

Posted in banks, Helping Families Save Homes, HOLC, Hope For Homeowners, incentives, loan modifications, Michael Barr, reflexive tactics, securitization, Takings Clause, TARP, Wikipedia | Leave a comment

Obama Proposes Sweeping Reforms For Financial Regulation


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Just last weekend, in discussing the current financial crisis with friends, I expressed concerns that in the panic to unfreeze the credit markets and stabilize the economy, our government would continue to simply throw money at the problem, while ignoring … Continue reading

Posted in Barack Obama, Center for Responsible Lending, Federal Reserve, Government bailout, incentives, legislation, lenders, oversight, recession, regulation, TARP, Timothy Geithner, underwriting practices | Leave a comment

Subprime Shakeout Discussed in Volokh Conspiracy Post On Formation of Aggregator Bank


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On January 19, 2009, Eric Posner from the Volokh Conspiracy cited to the Subprime Shakeout in his article entitled “Why should the government buy toxic assets?” The post addressed the idea of an “Aggregator Bank” that would acquire the mortgage-backed … Continue reading

Posted in Aggregator Bank, Attorneys General, Countrywide, Government bailout, Greenwich Financial Services, investors, loan modifications, predatory lending, securities, settlements, TARP, Volokh Conspiracy | Leave a comment

Citigroup Becomes First Lender to Cave to Mortgage Principal Reductions by Bankruptcy Judges


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It’s official: the first domino has fallen. The L.A. Times has reported that Citigroup Inc. has agreed that bankruptcy courts should be allowed to change the terms of mortgages, including ordering reductions in the principal amount of loans, as part … Continue reading

Posted in bailout, bankruptcy, Barack Obama, cheap money, Citigroup, class actions, contract rights, homeowner relief, legislation, loan modifications, recession, Seventh Circuit, TARP, TILA, workouts | 2 Comments