Five years ago, Federal Reserve head Ben Bernanke said the housing sector wasn't a major economic concern. In fact, most experts failed to see the looming subprime mortgage crisis that sank the U.S. economy. If they were so wrong about the Great Recession, it's possible they could also be blind to a "Great Recovery."
Published News » Subprime Mortgage Crisis
Have Economists Got It Wrong About The U.S.?
Posted by mortgage 23 hours ago (Editorial)
Timeline: Ex-Credit Suisse traders charged
Posted by mortgage 1 day 23 hours ago (Editorial)
U.S. authorities have accused a group of former Credit Suisse Group AG traders of falsely inflating the value of mortgage-backed securities on the investment bank's books as the financial crisis began ...
Analysis: Obstacles high for more mortgage prosecutions
Posted by mortgage 1 day 23 hours ago (Editorial)
NEW YORK (Reuters) - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders. David Higgs, 42, and Salmaan Siddiqui, 36, pled guilty in U.S. District Court in New York to a criminal charge of ...
UK trader pleads guilty over to hiding subprime losses
Posted by mortgage 2 days ago (Editorial)
A UK trader has pleaded guilty to overstating the value of mortgage-backed bonds when working at Credit Suisse at the start of the financial crisis.
US to charge ex-Suisse traders
Posted by mortgage 3 days ago (Editorial)
US authorities are preparing to charge four former Credit Suisse Group AG employees with criminal and civil fraud related to write-downs on subprime mortgage derivatives at the height of the financial crisis, sources familiar with the matter said.
Ex-Credit Suisse employee surrenders: FBI
Posted by mortgage 3 days ago (Editorial)
NEW YORK (Reuters) - A former Credit Suisse employee surrendered to the FBI on Wednesday on criminal charges, an FBI spokesman said, in a U.S. government probe on writedowns on subprime mortgage derivatives at the height of the financial crisis. Sources familiar with the investigation said on Tuesday that as many as four former Credit Suisse traders were expected to face either criminal or civil
US to Charge ex-Suisse Traders on Subprimes: Sources
Posted by mortgage 3 days ago (Editorial)
US authorities are preparing to charge four former Credit Suisse employees with criminal and civil fraud related to write-downs on subprime mortgage derivatives at the height of the financial crisis, sources familiar with the matter said.
US mortgage giant bet against homeowners: report
Posted by mortgage 4 days ago (Editorial)
US-owned mortgage giant Freddie Mac is holding billions of dollars in investments that only pay off if homeowners remain locked into high interest rates, a media investigation has found.
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