The Obama administration is pushing to lower the lending standards for home loans in order to spur the recovery and help lower-income homebuyers, a move some housing finance experts find alarming.
Two years after President Obama signed the 848-page Dodd-Frank Wall Street Reform and Consumer Protection Act, only a third of the nearly 400 required regulations have been finalized, and critics say the ensuing uncertainty is retarding economic growth.
The developing Libor scandal has ensnared Obama Treasury Secretary Timothy Geithner, the Washington Post reports.
The New York Federal Reserve and its then-chairman Timothy Geithner were informed as early as 2007 about problems pertaining to Libor, a critical interest rate that sets the tone in the global marketplace, according to the Washington Post.
The Treasury Department is pushing for a new batch of regulations on money market mutual funds to dispel consumer notions that the funds are backed by a government guarantee—a notion created by a bailout forced on the industry against its wishes in 2008.
The median American family’s net worth has dropped to early-1990s levels according to the Federal Reserve’s Survey of Consumer Finances, which was released Monday.
A new report by former FBI Director Louis J. Freeh detailing MF Global’s misuse of Italian bonds before its October bankruptcy subjects embattled Obama bundler Jon Corzine to further scrutiny.
Marion Sandler, the prominent left-wing philanthropist who helped pioneer a controversial mortgage-lending practice at the heart of the 2007 mortgage crisis, has passed away at her San Francisco home, according to her personal website.