Reddit Headline Hilarity
Dead Man Walking: Our beloved Dennis Kucinich, the man who's nuts are bigger than anyone in DC, save for Hillary, is proposing putting the Federal Reserve under government control. Dennis for the love of god, stay in crowded spaces. We love you!
Good times, good times.
A Pair On The Causes Of The Recession
Slaying the bull.
The End: From Liar's Poker to The Crash (update: Much more via Kottke)
The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.
Was There a Loan [WaMu] Didn't Like?
AS a senior mortgage underwriter, Keysha Cooper was proud of her ability to spot fraud and other problems in a loan application. A decade of vetting mortgage documents had taught her plenty, she says.
But as a senior mortgage underwriter at Washington Mutual during the late, great mortgage boom, Ms. Cooper says she found herself in a vise. Brokers squeezed her from one side, her superiors from the other, she says, and both pressured her to approve loans, no matter what.
“At WaMu it wasn’t about the quality of the loans; it was about the numbers,” Ms. Cooper says. “They didn’t care if we were giving loans to people that didn’t qualify. Instead, it was how many loans did you guys close and fund?”
Ms. Cooper, 35, was laid off a year ago and is still unemployed. She came forward to discuss her experiences at the bank in order to help shareholders recover money from WaMu executives.
[Links via Robot Wisdom, image from the NY Times' article]