Poor Chuck, all he did was exercise a little political muscle!
Sen. Chuck Schumer today went on another counterattack against federal banking regulators who’ve blamed him for helping cause the failure of IndyMac Bank ( Read more... )

Once again, proof that it wasn't free markets at play!
Andrukonis and others expressed concern about another type of mortgage Freddie was buying, where neither income nor assets were stated on the loan application. Andrukonis said these were popular with Hispanic borrowers, but the delinquency rates of 8 to 13 percent were much higher than on ( Read more... )

More "shocking" news: even more Democrats involved in the Countrywide/IndyMac financial scandals.
Countrywide Financial Corp., the biggest U.S. mortgage lender, made large, previously undisclosed home loans to two additional executives of Fannie Mae, the government-chartered firm at the center of the U.S. credit crisis ( Read more... )