Chicago Tribune - "The key change in the next decade is that policymakers around the world have chosen the winners and losers," Griffin said at a Wednesday panel. "The winners are the banking system."
By selecting commercial banks to become the centerpiece of the financial industry, the government closed the era of investment banks and hedge […]

Reuters - On Main Street, insurance protects people from the effects of catastrophes.
But on Wall Street, specialized insurance known as a credit default swaps are turning a bad situation into a catastrophe.
When historians write about the current crisis, much of the blame will go to the slump in the housing and mortgage markets, which triggered […]

Montreal Gazette- IndyMac Bank is under investigation by the FBI for possible fraud involving home loans made to risky borrowers, the Associated Press reported yesterday, citing an unnamed law enforcement official.
The report said it was not immediately clear how long the FBI’s probe of the bank has been ongoing but the probe is focused on […]

New York (HedgeCo.Net) - In an effort to stabilize U.S financial markets and prevent further turmoil in the economy, Federal Reserve Chairman Ben Bernanke suggested expanding its control and authority over our country’s financial firms.
Bernanke spoke at a Federal Deposit Insurance Corp. conference regarding the improvement of mortgage lending yesterday, where he explained they were […]

Ventura County Star- More than 400 real estate industry players have been indicted since March, — including dozens in the last two days — in a Justice Department crackdown on incidents of mortgage fraud that stem from the country’s housing crisis.
The FBI put the losses to home-owners and other borrowers who were victims in the […]