The holding company that owned Washington Mutual is calling shenanigans on the FDIC, arguing that the true worth of Washington Mutual was much more than the amount for which the FDIC sold it to JPMorgan Chase.
SEATTLE - Washington Mutual's holding company is suing federal regulators for billions of dollars, saying the firesale of the bank's assets ( 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... )