by Zach Carter | Apr 13, 2010 | Blog, Financial Reform
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 securities hard to investors. The company sold a $3 billion...
by Zach Carter | Apr 9, 2010 | Blog
2:00 FCIC Commissioners today have been much more aggressive than they've been in any hearing thus far. Watching Bill Thomas go after Fannie Mae exec Robert Levin on lobbying was really satisfying. But where was this tenacity yesterday, or in February? The way Thomas...
by Zach Carter | Apr 9, 2010 | Blog
The Financial Crisis Inquiry Commission hearings continue to be a broad, boring failure, peppered with a few moments of significant insight. Throughout most of yesterday's hearing featuring the nation's top bank regulator, Comptroller of the Currency John Dugan,...
by Zach Carter | Apr 8, 2010 | Blog
A grotesque deception from Dugan's opening statement: "The rapid increase in market share by these unregulated brokers and originators put pressure on regulated banks to lower their underwriting standards, which they did, though not to the same extent as was true for...
by Zach Carter | Apr 8, 2010 | Blog
The top U.S. bank regulator, John Dugan, hasn't even started testifying before the Financial Crisis Inquiry Commission, but he's already spinning deceptions. Dugan worked as a bank lobbyist for years before being appointed to his current job by President George W....
