The Washington Independent

Posts Tagged financial crisis

Occupy Wall Street marches to house of JPMorgan CEO and Federal Reserve board member

By | 10.12.11 | 1:13 pm

Protesters from the “99 percent” movement marched on the Upper East Side of New York City Tuesday, planting themselves on a block between FAO Schwarz and Bloomingdale’s where high-profile members of New York’s moneyed elite live.

Chicago hosts Mortgage Bankers Association, protests bring spotlight on housing

By | 10.11.11 | 5:18 pm

If the 5,000 plus demonstrators that marched to the Mortgage Bankers Assocation (MBA) annual meeting in Chicago on Monday are any indication, the city has had enough of the MBA.

Occupy Wall Street comes to Texas

By | 09.28.11 | 8:10 pm

Image by: Matt MahurinThe fervor drawn from the Occupy Wall Street protests, which began about two weeks ago in New York City, has elicited plans for spin-off protests in Texas and other states.

Women Leave Wall Street in Droves

By | 09.20.10 | 5:51 pm

From today’s Wall Street Journal:

Women are fading from the U.S. finance industry.

In the past 10 years, 141,000 women, or 2.6 percent of female workers in finance, left the industry. The ranks of men grew by 389,000 in that period, or 9.6 percent, according to a review of

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The Hamstrung Fed

By | 09.13.10 | 12:38 pm

This morning, a little, wonky blog post is creating a lot of controversy. Economics of Contempt writes:

Here’s a scary thought: Let’s say the European sovereign debt crisis flares up again, and one or two Euro banks fail. (Not a bank like UBS or Deutsche Bank, but a medium-sized

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Troubles at the FCIC

By | 09.01.10 | 11:04 am

Today, the Financial Crisis Inquiry Commission — the bipartisan panel examining the causes of the financial crisis that plunged the country into recession — is up with another round of hearings. The FCIC is due to complete a comprehensive report, à la the Pecora Commission that studied the 1929 More…

How to Sell a Subprime Product

By | 08.27.10 | 3:23 pm

ProPublica and NPR’s Planet Money are up with a great investigation into how banks sustained demand for risky mortgage-backed securities, even as the housing market started to falter and the number of companies available to take the long side of the trades started to dwindle. They, in essence, made More…

Buffett Defends Credit Ratings Agencies, Concedes System’s Flaws

By | 06.02.10 | 5:40 pm

Testifying before the Financial Crisis Inquiry Commission this afternoon, Warren Buffett — the legendary value investor who heads Omaha-based investment giant Berkshire Hathaway — defended the behavior of the country’s credit ratings agencies and his own role in them, while acknowledging that the model under which they operate creates a More…

Are Homeowners Really Skipping Out on Their Mortgages to Spend at the Mall?

By | 05.04.10 | 6:00 am

The case is now famous. The homeowner had applied for the Home Affordable Mortgage Program, or HAMP, an Obama administration initiative to give distressed and tapped-out borrowers lower monthly payments. Applicants are meant to be just scraping by — they have to file hardship affidavits and the government presumes More…

Personal Bankruptcies Remain High

By | 05.03.10 | 5:42 pm

Via Sara Murray of The Wall Street Journal, the American Bankruptcy Institute says that bankruptcies declined slightly between March and April … but remain 15 percent higher than last year. And personal bankruptcy filings for the first four months of the year are 17 percent higher in 2010 than More…