Archive
Fannie Execs Blame Failure on Company's 'Impossible' Dual Purpose
Taking their turns before the Financial Crisis commission, executives from Fannie Mae said the hybrid nature of the company -- government chartered but stockholder owned -- and the mandate to make loans to increase home ownership were primary factors in its failure.
Graphic: The Timeline of Magnetar's Deals
How did Magnetar's deals in subprime mortgage securities compare to the overall market's?
Off the Radar: Private Planes Hidden From Public View
ProPublica has obtained a list of private planes whose flights are blocked from public tracking sites, and among them are the planes of politicians, business executives, colleges, churches and even news organizations.
Citi Execs: "Deeply Sorry," but Don't Blame Us
Chuck Prince and Robert Rubin, two leaders of Citigroup during the financial meltdown, told an investigations committee that they were sorry for the company's role in the financial crisis, but that they didn't see it coming.
Citigroup's Defense of Its Regulators
Chuck Prince, Citigroup's former CEO, told the Financial Crisis Inquiry Commission that the Fed's oversight of the company was sufficient, even though a panel's study showed that Fed regulators didn't regulate Citi enough.
The Call Geithner Didn’t Make While His New York Fed Watched Over Citigroup
A 2005 report by other Federal Reserve banks found that the New York Fed did not have the resources to supervise Citigroup. But Alan Greenspan, who was the Fed chairman at the time, says that Timothy Geithner never called to ask for more.
Greenspan's Fed Didn't Focus on Enforcement
At a hearing before the Financial Crisis Inquiry Commission, Alan Greenspan defended the Federal Reserve against blame. He said that although the Fed has responsibility for bank regulation and oversight, it "is not an enforcement agency."
Broad Scope of EPA’s Fracturing Study Raises Ire of Gas Industry
A new EPA study of hydraulic fracturing that has invoked the ire of drilling companies is expected to provide a broad look at the natural gas drilling process, including injection spills, leaks and water contamination incidents.
Video of Journalists' Death Answers Some Questions, but Raises Others
A video that shows an American gunship killing two Reuters journalists in Baghdad yields defense and condemnation, but needs to be considered in light of other killing of civilians.
Get Help Making Sense of Stimulus Data
Making sense of the thousands of stimulus reports from hundreds of federal agencies can be challenging. To help, ProPublica, the Associated Press Managing Editors and the Sunlight Foundation are offering offer online Webinars on gathering local stimulus data.
Preview: Financial Crisis Panel's Huge Task, Small Budget, Unanswered Questions
The Financial Crisis Inquiry Commission, a 10-person panel tasked with investigating the causes of the financial crisis, begins a second round of public hearings with former Fed chairman Greenspan, ex-Citigroup CEO Chuck Prince and former Citi chairman (and Treasury secretary) Robert Rubin.
Stimulus Spending Update: Nearly 41% of Funds Out the Door
Roughly $327 billion in stimulus money has now entered the economy, according to the latest figures on Recovery.gov. That's just under 41 percent of the nearly $800 billion total in the Recovery Act package.
