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	<title>Mortgage Crisis Daily &#187; Root Causes</title>
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	<link>http://crisis.lenderwatch.org</link>
	<description>The Subprime Mortgage Crisis Before, During, and After</description>
	<lastBuildDate>Tue, 07 Feb 2012 19:48:59 +0000</lastBuildDate>
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		<title>Moodys Investors Service employee testifies about fraud</title>
		<link>http://crisis.lenderwatch.org/news/762</link>
		<comments>http://crisis.lenderwatch.org/news/762#comments</comments>
		<pubDate>Mon, 26 Apr 2010 12:09:38 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[Board of Directors of Moody]]></category>
		<category><![CDATA[Derivatives]]></category>
		<category><![CDATA[financial food chain]]></category>
		<category><![CDATA[investor]]></category>
		<category><![CDATA[Moody’s Investors Service]]></category>
		<category><![CDATA[Senate Permanent Subcommittee on Investigations]]></category>
		<category><![CDATA[sub-prime lender]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/?p=762</guid>
		<description><![CDATA[Here&#8217;s the written testimony of Eric Kolchinsky before the Senate Permanent Subcommittee on Investigations last week who, during the majority of 2007, was the Managing Director in charge of the business line which rated sub-prime backed CDOs at Moody’s Investors Service. He was suspended by Moody&#8217;s after warning the compliance group regarding what he believed [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Credit-ratings agencies became financial whores</title>
		<link>http://crisis.lenderwatch.org/news/743</link>
		<comments>http://crisis.lenderwatch.org/news/743#comments</comments>
		<pubDate>Fri, 23 Apr 2010 11:56:01 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[Carl Levin]]></category>
		<category><![CDATA[Chairman]]></category>
		<category><![CDATA[investor]]></category>
		<category><![CDATA[Moody's Investors Service]]></category>
		<category><![CDATA[Standard & Poor's]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/?p=743</guid>
		<description><![CDATA[Confirming what most analysts knew, both before and after 2007, a Senate panel investigating the causes of the nation&#8217;s financial crisis on Thursday unveiled evidence that credit-ratings agencies knowingly gave inflated ratings to complex deals backed by shaky U.S. mortgages in exchange for lucrative fees. The Senate Permanent Subcommittee on Investigations will hold a detailed [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>State AG&#8217;s watch as option ARM&#8217;s start to implode by late 2009</title>
		<link>http://crisis.lenderwatch.org/news/663</link>
		<comments>http://crisis.lenderwatch.org/news/663#comments</comments>
		<pubDate>Sun, 20 Sep 2009 13:50:18 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Barack Obama's administration]]></category>
		<category><![CDATA[federal government]]></category>
		<category><![CDATA[Terry Goddard]]></category>
		<category><![CDATA[Tom Miller]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/?p=663</guid>
		<description><![CDATA[The federal government and states are girding themselves for the next foreclosure crisis in the country&#8217;s housing downturn: payment option adjustable rate mortgages that are beginning to reset. &#8220;Payment option ARMs are about to explode,&#8221; Iowa Attorney General Tom Miller said after a Thursday meeting with members of President Barack Obama&#8217;s administration to discuss ways [...]]]></description>
		<wfw:commentRss>http://crisis.lenderwatch.org/news/663/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Welfare payments and unemployment as valid income</title>
		<link>http://crisis.lenderwatch.org/news/505</link>
		<comments>http://crisis.lenderwatch.org/news/505#comments</comments>
		<pubDate>Thu, 25 Sep 2008 11:04:18 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/505</guid>
		<description><![CDATA[In an article titled &#8220;They Gave Your Mortgage To A Less-Qualified Minority&#8221; we see the effect of Clinton-era changes. Did these changes set the stage for the subprime crisis? You be the judge, but the system was abused, and went well beyond minorities. &#8220;Under Clinton, the entire federal government put massive pressure on banks to [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>High-Rate High-Fee Loans HOEPA Section 32 Mortgage Abuse</title>
		<link>http://crisis.lenderwatch.org/news/435</link>
		<comments>http://crisis.lenderwatch.org/news/435#comments</comments>
		<pubDate>Tue, 13 May 2008 18:16:58 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[FTC]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/435</guid>
		<description><![CDATA[Just when we thought subprime could not get uglier, one of the world&#8217;s largest banks has found a way to usurp U.S. government regulations. High-Rate, High-Fee Loans HOEPA/Section 32 Mortgages and how to get around the regulation seems to be the newest and latest marketing ploy. &#8220;As a current employee I am appauled to see [...]]]></description>
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		</item>
		<item>
		<title>UBS shows $10 billion subprime writedown</title>
		<link>http://crisis.lenderwatch.org/news/310</link>
		<comments>http://crisis.lenderwatch.org/news/310#comments</comments>
		<pubDate>Wed, 12 Dec 2007 20:02:40 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Archives]]></category>
		<category><![CDATA[Economic Impact]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[Investors]]></category>
		<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Capital]]></category>
		<category><![CDATA[investor]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/310</guid>
		<description><![CDATA[This time it&#8217;s an investment bank with problems. Swiss-based UBS announced a $10 billion writedown this week on subprime exposures. An injection of capital from investors in Singapore and the Middle East was also announced. UBS has also slammed on the brakes at its investment bank, where the problems originated. UBS has been the biggest [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Paulson wants state help as court blocks state enforcement? Really?</title>
		<link>http://crisis.lenderwatch.org/news/304</link>
		<comments>http://crisis.lenderwatch.org/news/304#comments</comments>
		<pubDate>Thu, 06 Dec 2007 01:29:22 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Analysis]]></category>
		<category><![CDATA[Archives]]></category>
		<category><![CDATA[Government Positions]]></category>
		<category><![CDATA[Quotable Quotes]]></category>
		<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[Suggestions]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[OCC]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[subprime]]></category>
		<category><![CDATA[Wells Fargo]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/304</guid>
		<description><![CDATA[While Treasury Secretary Henry Paulson was speaking, a federal appeals court shut the door to state enforcement of federally charted banks. Now Paulson wants help from the states. What in the world is going on? Didn&#8217;t the court render the states powerless to seek documents and enforce predatory lending laws, while Paulson is asking stes [...]]]></description>
		<wfw:commentRss>http://crisis.lenderwatch.org/news/304/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Bush in jam over subprime rescue plan</title>
		<link>http://crisis.lenderwatch.org/news/302</link>
		<comments>http://crisis.lenderwatch.org/news/302#comments</comments>
		<pubDate>Mon, 03 Dec 2007 22:46:18 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Archives]]></category>
		<category><![CDATA[Editorial]]></category>
		<category><![CDATA[Opinion]]></category>
		<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[bankrupt]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[industry]]></category>
		<category><![CDATA[investor]]></category>
		<category><![CDATA[Lenders]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/302</guid>
		<description><![CDATA[As lawmakers, Treasury Secretary Henry Paulson, Housing and Urban Development Secretary Alphonso Jackson, a slew of presidential hopefuls, and many others weigh in on a solution to the subprime mess it is clear that President Bush is in a jam. While some realists say the recession of 2001 never ended, others claim the manufactured wealth [...]]]></description>
		<wfw:commentRss>http://crisis.lenderwatch.org/news/302/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>One third of U.K. homeowners face big house payment increases</title>
		<link>http://crisis.lenderwatch.org/news/297</link>
		<comments>http://crisis.lenderwatch.org/news/297#comments</comments>
		<pubDate>Wed, 28 Nov 2007 18:59:03 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Archives]]></category>
		<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[Opinion]]></category>
		<category><![CDATA[Outside the U.S.]]></category>
		<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/297</guid>
		<description><![CDATA[Some say the U.K. is a warning to the U.S. but the news sounds about the same. One third of all U.K. homeowners will face big increases in their house payments. A report released yesterday said approximately 5.5 million people in the U.K. would be effected. Many fell into the subprime trap because of divorce, [...]]]></description>
		<wfw:commentRss>http://crisis.lenderwatch.org/news/297/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Housing recession impacts cities, will hurt lenders</title>
		<link>http://crisis.lenderwatch.org/news/293</link>
		<comments>http://crisis.lenderwatch.org/news/293#comments</comments>
		<pubDate>Tue, 27 Nov 2007 15:47:58 +0000</pubDate>
		<dc:creator>Timothy Blake</dc:creator>
				<category><![CDATA[Archives]]></category>
		<category><![CDATA[Economic Impact]]></category>
		<category><![CDATA[Lenders]]></category>
		<category><![CDATA[Root Causes]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://mortgageblues.us/news/293</guid>
		<description><![CDATA[The housing recession will drive down property values by $1.2 trillion next year and slash tax revenue by more than $6.6 billion, according to a report issued today by the U.S. Conference of Mayors. The 361 largest U.S. cities will experience a combined loss of $166 billion in economic growth, led by $10.4 billion in [...]]]></description>
		<wfw:commentRss>http://crisis.lenderwatch.org/news/293/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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