Wajahat Ali, a solo practitioner from California, takes on Wells Fargo in an attempt to get his clients' home loan modified. Lots of ball dropping and passing of the buck ensues. He describes the Kafka-esque nature of the experience.
posted by reenum on Jun 20, 2010 - 41 comments

Peter Wallison, an economist who arguably predicted the housing crash and bailout in 1999 explains his current views on the crash: "Other players...played a part" but "...government policy over many years--particularly the use of the Community Reinvestment Act and Fannie Mae and Freddie Mac to distort the housing credit system-- underlies the current crisis."
posted by shivohum on Feb 11, 2009 - 98 comments

Anatomy of a Meltdown - Ben Bernanke and the financial crisis (in one page)
posted by Gyan on Nov 24, 2008 - 61 comments

More subprime collateral damage. Iceland's now getting a $5B bailout from Russia. What does Russia want in return? Access to shipping lanes? The old US base? via
posted by blahblah on Oct 7, 2008 - 48 comments

This is definitely not a good time to be in the bond insurance business. With large-scale insurers Ambac and MBIA -- and with smaller players faring no better -- one could well think that in the end the lending crisis has brought to light considerable flaws at the very basis of the American -- and indeed global -- financial sector. (all links above except the first lead to 6-month stock charts) [more inside]
posted by clevershark on Jan 23, 2008 - 19 comments