President Obama announced today that Richard Cordray, fomer Attorney General of Ohio to head the new Consumer Financial Protection Bureau, or CFPB. This appointment comes as many believe that the President caved to pressure, mainly from the financial sector not to appoint Dr. Elizabeth Warren to this position. Washington insiders believed no Republican would vote [...]
Obama Settlement on Banking is in Trouble
March 25, 2011 By Leave a Comment
I can’t hardly believe how out of touch the Obama Administration is over the mortgage mess created by Wall Street and the major Banks, including Chase, Wells Fargo, Bank of America, US Bank and Citibank. According to “Naked Capitalism”, recently the administration has been pushing a settlement proposal for the banking industry for the mortgage [...]
Obama Administration Pushes for more Aggressive Mortgage Modification Program.
March 16, 2011 By 2 Comments
The Obama administration is rumored to be pushing for an aggressive loan modification program according to the Huffington Post. The report cites the program as “Shock and Awe” with the goal being 3 million permanent loan modifications over 6 months. This is strange to me since the current Hamp program is such a catastrophic failure [...]
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