Administration was warned of economy’s collapse (Seattle Post-Intelligencer)
July 2, 2009 – 3:10 pmWASHINGTON — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
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Despite warnings, Bush administration eased loan rules (The Pantagraph)
July 1, 2009 – 3:11 pmWASHINGTON — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed.
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Bush administration was warned mortgages were bad (Chicago Sun-Times)
June 30, 2009 – 3:10 pmWASHINGTON — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed.
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U.S. eased lending rules under pressure (The Globe and Mail)
June 29, 2009 – 3:10 pmWASHINGTON — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed.
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Tata Offers Depositors 11% to Fund Jaguar Purchase (Update1) (Bloomberg)
June 28, 2009 – 3:10 pmDec. 1 (Bloomberg) — Tata Motors Ltd. , the maker of Jaguar and Land Rover vehicles, will borrow from the public for the first time in 13 years as the credit crunch limits its ability to refinance loans used to acquire the luxury brands in June.
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