US soldiers who put their lives on the line in Iraq are losing their homes because of the subprime crisis. The last time veterans lost their homes to this extent was during the Great Depression
Sphere: Related ContentAn accounting rule maker says the banks have created the subprime crisis
Litigation is on the increase with the subprime crisis
To what extent is the subprime meltdown the result of an accounting technique
The subprime crisis has some eerie parallels with Enron and WorldCom, say the two Sarbox co-authors. Michael Oxley and Paul Sarbanes says what’s needed is more regulation
Sphere: Related ContentThe big bonuses and payouts for executive might well have contributed to the subprime meltdown.
All of the CEOs who failed got paid very well. Therefore, the pay plans had very perverse incentives.
The subprime disaster is hitting insurers hard with Fitch Ratings saying US life insurers have an estimated $7 billion to $8 billion in unrealized losses on subprime. There are several reasons why insurers will be the next big victims. And everyone will pay.
Sphere: Related ContentSarbanes-Oxley not only failed to stop the subprime meltdown. It contributed by giving investors the false confidence that they could rely on the law, and not prudence to protect their market holdings.
Sphere: Related ContentWhy was the SEC asleep at the wheel in the lead-up to the subprime crisis? Bad risk management and it did not want to clamp down on this market.
Sphere: Related ContentThe FBI is conducting criminal investigations into how subprime loans were made and packaged, and how securities backed by them were valued. There are also questions of insider trading violations. This was always going to happen. But is the SEC now protecting subprime lenders?
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