WaMu: Rampant Fraud and Financial Collapse

There are two types of financial outrages: acts that are outrageously illegal, and acts that are, outrageously, legal. Yesterday’s Senate hearing on the rise and fall of Washington Mutual was […]
Zach Carter
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Liveblogging the Washington Mutual hearing

4:25 Levin is ripping Killinger on option-ARM delinquencies. WaMu performed a study concluding that option-ARMs were about to default like crazy, and right after that study, WaMu started pushing option-ARM […]
Zach Carter
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Labor Exec Shows How To Demolish Banking Industry Facade

The banking lobby, as corporate lobbies are wont to do, can build a wonderful Potemkin village of consumer delights, where a defanged government beholden to business interests smiles as unfettered […]
Isaiah J. Poole
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Wall Street Rules: The Bernanke Reappointment

The reappointment of Ben Bernanke as Chairman of the Federal Reserve — cleverly timed to defuse the news of burgeoning federal deficits — was preordained. The “markets” demanded it, and […]
Robert Borosage
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