I sit in wonderment at the story of W. Lance Anderson, the president of NovaStar Financial in Kansas City who, while handing out subprime mortgages to any applicant wearing shoes and a shirt, managed to sink the company's stock from $40 in June to $1.72. ...more

November 24, 2007

I sit in wonderment at the story of W. Lance Anderson, the president of NovaStar Financial in Kansas City, who while handing out subprime mortgages to any applicant wearing shoes and a shirt managed to sink the company's stock from $40 in June to $1.72. This is a man who earned $1.7 million in salary and bonuses last year, plus $711,386 in deferred compensation, plus more dough in various arrangements that dopes like me can't quite grasp. Meanwhile, all the little investors in NovaStar are cutting back on Christmas gifts and canceling their winter vacations in Daytona Beach. ...more

November 23, 2007

Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business. ...more

November 20, 2007

Billions of dollars in mortgage losses reported during the third quarter could be a prelude to bigger losses in the fourth quarter, as two more financial institutions warned of substantial write-downs Wednesday. ...more

November 15, 2007

More banks have tightened lending standards on home mortgages, the Federal Reserve said Monday in the latest sign of fallout from a spreading credit crisis. ...more

November 6, 2007

Senate Banking Committee Chairman Christopher Dodd says Merrill Lynch & Co.'s $161.5 million compensation package for former chairman and Chief Executive Officer Stan O'Neal may revive efforts in Congress to give shareholders more power to curb CEO salaries. ...more

November 3, 2007

Members of Congress pushed the Bush administration Friday to accelerate efforts to stem a rising tide of home foreclosures. ...more

November 2, 2007

Some day over the next few weeks, Wall Street executives are going to meet to make some bad decisions. ...more

October 24, 2007

Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans whose interest rate is set to adjust by the end of 2008. Its shares fell more than 4 percent. ...more

October 23, 2007

Faced with soaring oil prices, a falling dollar and the worst credit crisis in nearly a decade, the masters of global finance have a simple message for jittery markets: Be calm, we are keeping an eye on things. ...more

October 21, 2007