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Search results for "Lehman Brothers" ...

  • The Monster How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Glboal Crisis

    "The Monster" investigates the history of the subprime mortgage business by unraveling the corporate histories of the industry's two most important players, Ameriquest and Lehman Brothers. The book documents the widespread fraud and law-breaking that were largely to blame for the financial system's meltdown.
  • Who Cares About Another $200 Million

    Oliver Budde, former Lehman Brothers associate general counsel, said the company's current CEO failed to disclose hundreds of millions in compensation.
  • "Too Big To Fail: How Wall Street and Washington Fought to Save the Financial System - and Themselves"

    Andrew Ross Sorkin takes readers to the middle of the largest financial crisis to hit the states since the Great Depression. Through hours of interviews and "documentary evidence," Sorkin reveals the "behind-the-scenes, moment-by-moment" steps and decisions on Wall Street that "sowed the seeds" of its slow, eventual demise.
  • "Inside the Collapse"

    Kerry Killinger, former CEO of Washington Mutual, refused to take blame for the bank's collapse. Instead, he cited the faltering housing market and "credit crisis." An investigation by The Seattle Times reveals Killinger and his employees used "reckless" and "predatory practices," like encouraging high-risk loans, to increase the bank's profits. The greed-fueled decisions eventually led to the bank's collapse.
  • Who's Behind the Financial Meltdown?

    "Who's Behind the Financial Meltdown" explores lending practices of big banks leading up to the near collapse of the financial sector in 2007. Findings suggest large banks such as Lehman Brothers, Merrill Lynch, Citigroup and Goldman Sachs bankrolled about 72 percent of the industry's risky subprime lending while executives reaped record bonuses and collected billions in federal bailout money.
  • America's Corporate Royalty

    This group of stories ran throughout all of 2008. In a year in which bad decisions by corporate leaders led the country into financial crisis, the ABC News investigative team produced a series of reports on America's corporate royalty -- the CEOs who used their company treasuries not only to enrich and pamper themselves, but to gain advantage in the courts and Congress, with scant regard for the country's democratic principles.
  • Way Ahead of the Curve

    This is a series of three stories by senior writer David Evans that ran in the February, July and November issues of Bloomberg Markets magazine. In "The Risk Nightmare," (July 2008), Evans pierced the opacity and complexity of credit default swaps, unregulated securities that were supposed to act as a form of insurance and protect investors against risk. He found that CDS had built up so many interconnections that one player could jeopardize the entire financial system. In "Banks on the Edge" (November 2008), Evans reported that scores of regional banks across the U.S. would fail within a year because they hadn't yet realized their losses on defaulting mortgages. In "Peddling Tainted Debt to Florida," (February 2008), he reported that Lehman Brothers was both advising and selling toxic debt to Florida's "money market pool." This disclosure prompted a run on the pool, and it was then shut down as the state investigated its holding and worked to restore its creditworthiness.
  • Broken Markets: The Panic of 2008

    How the credit crisis caused by Wall Street giants Bear Stearns, Lehman Brothers, Merrill Lynch and American International Group brought the financial market to its knees
  • Deeper in Debt

    "A national lender accused of deceptive sales practices and charging outrageous fee while funded by one of the most prestigious banks on Wall Street was the focus of a joint ABC News-New York Times investigation of the First Alliance Mortgage Company. . . The team discovered that authorities in a number of states were investigating First Alliance, accusing it of using a slick but misleading sales spiel to lure thousands of elderly homeowners into loans that sucked away the equity they had built up in their homes. . . But what pushed the investigation beyond other earlier examinations of local abusive lending scandals was tracking the money behind First Alliance- all the way to Wall Street. The source of their funds was Lehman Brothers, the prestigious investment bank . . . that had raised hundreds of millions of dollars. High-interest mortgages were nevertheless bundled together by Lehman Brothers and sold to big Wall Street investors, who then received interest payments from the homeowners."