The Role of Derivatives in the Financial Crisis – Credit Default Swaps and the Economic Meltdown

Testimony of Michael Greenberger Law School Professor University of Maryland School of Law ~ Financial Crisis Inquiry Commission Hearing Dirksen Senate Office Building, Room 538 Washington DC Wednesday, June 30, 2010, 9am EDT ~ Introduction ~ I have been asked by the Commission to address the following four questions in my testimony: The history of … Read more

OTS Examination Handbook Update Addresses INTERNAL Fraud Concerns and Controls

And once again, I thought it was the Deadbeat Homeowners that took down the entire global economy… Internal Fraud is to blame for most breaches and financial losses. Identifying it early, or preventing fraud before it starts, must be a priority, the OTS says. The FBI estimates that 80 percent of all mortgage fraud involves … Read more