Eric Florack on October 6th, 2008

Bruce McQuain does an admirable job of explaining my estimation on the sub-prime meltdown quoting a 1999 article in the New Work Times: The lede: In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase […]

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Eric Florack on July 11th, 2008

The Wall Street Journal: IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators, in the third-largest bank failure in U.S. history. IndyMac is the biggest mortgage lender to go under since a fall in housing prices and surge in defaults began rippling through the economy last […]

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Eric Florack on July 3rd, 2008

Sen. Charles E. Schumer publicly taunted bank regulators last week about IndyMac Bancorp’s financial condition, which helped trigger a sudden outflow of deposits from the Pasadena thrift. Now the New York Democrat is getting some harsh blowback from one current and one former regulator. Their message, distilled: Zip it, Chuck. As noted here on Monday, […]

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