Mortgage servicers have not done enough to help struggling homeowners avoid foreclosure, a leading Democrat said Wednesday, and Congress must now step in with new legislation to help them salvage their troubled loans.
“We have not seen servicers participating in any significant way,” Rep. Barney Frank (D-Mass.), chairman of the More…
The House Oversight and Government Reform Committee just spent a five-hour hearing detailing how American International Group gave millions in compensation to executives even as the world’s largest insurance company was posting huge losses.
AIG executives even spent $443,000 for a weeklong retreat at the St. Regis Resort More…
The House oversight committee has spent the day unloading on Lehman Bros. CEO Richard Fuld — his $480 million in compensation over the past eight years, his investment bank’s unprecedented leveraging of mortgage assets, his misleading of Lehman shareholders up to the day the company declared bankruptcy and the More…
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