List of entities involved in 2007 finance crises
Encyclopedia
A list of companies, governmental and quasi-governmental agencies (GSEs), and/or non-profit organizations involved in the various economic and financial crises of 2007–2008.
and its reincarnation as an amendment of H.R. 1424
, supporters and opponents:
National Builders
- Beazer Homes USABeazer Homes USABeazer Homes USA is a Fortune 500 American homebuilding company based in Atlanta, Georgia. The company builds and sells primarily single-family homes in twenty states of the continental United States...
- Hovnanian EnterprisesHovnanian EnterprisesHovnanian Enterprises, Inc. is a United States real estate company involved in every aspect of marketing homes, including design, construction and sales. The company works with individual detached housing as well as higher-occupancy dwellings, including townhouses, condominiums and retirement homes...
- Lennar CorporationLennar CorporationLennar Corporation is a Fortune 500 company based in Miami, Florida, United States, in the Fountainbleau area. It was founded in 1954.In 2008, Lennar was the United States' second largest homebuilder, constructing homes in 17 different states throughout the United States, including Arizona,...
- KB HomeKB HomeKB Home is a homebuilding company based in the United States, founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the NYSE as a home builder and is a Fortune 500 company...
- NVR
- Pulte HomesPulte HomesPulte Homes, Inc is a Bloomfield Hills, MI based company founded by Bill Pulte. Announced April 8, 2009, Pulte Homes has agreed to acquire Centex - creating the nation's largest homebuilding company in a stock transaction worth $3.1 billion, including $1.8 billion of debt...
- Toll BrothersToll BrothersToll Brothers is a Horsham, Pennsylvania based luxury homes builder.-Company Overview:Toll Brothers is a residential and commercial real estate development company with communities in 50 markets throughout 19 states...
Real estate and appraisal
- Coldwell BankerColdwell BankerColdwell Banker is a large real estate franchise founded in 1906 in San Francisco.Coldwell Banker has an international presence, with offices on six continents, 46 countries and territories...
- Prudential Real EstatePrudential FinancialThe Prudential Insurance Company of America , also known as Prudential Financial, Inc., is a Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the...
Associations
- American Society of Appraisers
- Appraisal InstituteAppraisal InstituteThe Appraisal Institute is a global membership association of professional real estate appraisers, with more than 25,000 members and 91 chapters throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional...
- National Association of Home BuildersNational Association of Home BuildersThe National Association of Home Builders is one of the largest trade associations in the United States. Headquartered in Washington, DC, NAHB's mission is "to enhance the climate for housing and the building industry...
- National Association of RealtorsNational Association of RealtorsThe National Association of Realtors , whose members are known as Realtors, is North America's largest trade association. representing over 1.2 million members , including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries...
- Real Estate Counseling Group of AmericaReal Estate Counseling Group of AmericaThe Real Estate Counseling Group of America was founded in 1970 by William N. Kinnard, a former president of the American Real Estate and Urban Economics Association, who sought to bring together a small group of top U.S...
- Urban Land InstituteUrban Land InstituteThe Urban Land Institute, or ULI, is a non-profit research and education organization with offices in Washington, D.C., Hong Kong, and London...
Subprime lenders
- New Century Financial Corporation
- American Home Mortgage Investment Corporation
- Accredited Home Lenders
- Countrywide FinancialCountrywide FinancialBank of America Home Loans is the mortgage unit of Bank of America. Bank of America Home Loans is composed of:*Mortgage Banking, which originates purchases, securitizes, and services mortgages. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion...
- Northern RockNorthern RockNorthern Rock plc is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for...
(UKUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
) - AmeriquestAmeriquestACC Capital Holdings was a national mortgage lender based in Orange, California. The company is the largest privately held retail mortgage lender in the United States and the largest subprime lender by volume...
- E*TRADE
- Option One
- American Freedom Mortgage, Inc.
- MortgageITMortgageITMortgageIT is a residential mortgage banking company that was founded in 1988 and is headquartered in New York City. By 2004, the company had become one of the top mortgage lenders in the nation. Also, in 2004, MortgageIT became a wholly owned subsidiary of MortgageIT Holdings, a self-administered...
- NovaStar Financial
Other lenders
- Washington MutualWashington MutualWashington Mutual, Inc. , abbreviated to WaMu, was a savings bank holding company and the former owner of Washington Mutual Bank, which was the United States' largest savings and loan association until its collapse in 2008....
- WachoviaWachoviaWachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo in 2008, Wachovia was the fourth-largest bank holding company in the United States based on total assets...
- Suntrust
- Luminent Mortgage Capital
- Aegis Wholesale
- 1st National Bank of Arizona
- GreenPoint Mortgage Funding
- Velocity Commercial Lender
- Fremont Investment & Loan
- ResMAE Mortgage Corp
- Americans Brokers Conduit
- IndyMac BankIndyMac BankOneWest Bank is a federal savings bank with 82 retail branches in southern California and approximately $14 billion in deposits as of February 2010....
Insurers
- AIGAmerican International GroupAmerican International Group, Inc. or AIG is an American multinational insurance corporation. Its corporate headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in...
- AmbacAMBACAMBAC may refer to:* Ambac Financial Group, a bankrupt American financial services company* Active Mass Balance Auto Control, a component of Universal Century technology in the fictional Gundam universe...
- MBIA
- Mortgage Guaranty Insurance CorporationMortgage Guaranty Insurance CorporationMortgage Guaranty Insurance Corporation is a provider of private mortgage insurance in the United States....
- CGUCGU plcCGU plc was a large insurance group, created by the merger of Commercial Union and General Accident. The Company was listed on the London Stock Exchange.- History :...
Banks
- BNP ParibasBNP ParibasBNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
, France - JPMorgan Chase, USA
- CitigroupCitigroupCitigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
, USA - Deutsche BankDeutsche BankDeutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
, Germany - IKB Industriekredit-Bank, Germany
- Bear StearnsBear StearnsThe Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
- Sächsische Landesbank, Germany
- Goldman SachsGoldman SachsThe Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
- Lehman BrothersLehman BrothersLehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
- Bank of AmericaBank of AmericaBank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
- WachoviaWachoviaWachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo in 2008, Wachovia was the fourth-largest bank holding company in the United States based on total assets...
- NetbankNetBankNetBank, formerly named Atlanta Internet Bank and Net.B@nk , was a financial company engaged primarily in retail banking, mortgage banking, business finance and providing ATM and merchant processing services. NetBank was founded in February 1996 and completed its initial public offering of stock...
, USA - UBS AGUBS AGUBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
, Switzerland - Northern RockNorthern RockNorthern Rock plc is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for...
, United Kingdom - HBOSHBOSHBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009...
, United Kingdom - Merrill LynchMerrill LynchMerrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
., USA - Washington Mutual Bank
- DexiaDexiaDexia N.V./S.A., also referred to as the Dexia Group, is a Belgian-French financial institution active in public finance, providing retail and commercial banking services to individuals and SMEs, asset management, and insurance...
, Belgium - FortisFortis (finance)Fortis N.V./S.A. was a company active in insurance, banking and investment management. In 2007 it was the 20th largest business in the world by revenue but after encountering severe problems in the financial crisis of 2008, most of the company was sold in parts, with only insurance activities...
, Benelux - Royal Bank of Scotland Group, United Kingdom
- Lloyds Banking GroupLloyds Banking GroupLloyds Banking Group plc is a major British financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at February 2010, HM Treasury held a 41% shareholding through UK Financial Investments Limited . The Group headquarters is located at 25 Gresham Street in London, with...
, United Kingdom - GlitnirGlitnir (bank)Glitnir was an international Icelandic bank. It was created by the state-directed merger of the country's three privately held banks - Alþýðubanki , Verzlunarbanki and Iðnaðarbanki - and one failing publicly held bank - Útvegsbanki - to form Íslandsbanki in 1990...
, Iceland - Kaupthing BankKaupthing BankKaupthing Bank was an international Icelandic bank, headquartered in Reykjavík, Iceland. It was formed by the merger of Kaupthing and Búnaðarbanki Íslands in 2003 and was the largest bank in Iceland....
, Iceland - LandsbankiLandsbankiLandsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations...
, Iceland
Governmental and quasi-governmental
- United States Department of the TreasuryUnited States Department of the TreasuryThe Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
- U.S. Securities and Exchange Commission
- Federal Housing Finance AgencyFederal Housing Finance AgencyThe Federal Housing Finance Agency is an independent federal agency created as the successor regulatory agency resulting from the statutory merger of the Federal Housing Finance Board , the Office of Federal Housing Enterprise Oversight , and the U.S...
- State of California
- Jefferson County, AlabamaJefferson County, AlabamaJefferson County is the most populous county in the U.S. state of Alabama, with its county seat being located in Birmingham.As of the 2010 U.S. Census, the population of Jefferson County was 658,466...
- Vallejo, California
Central Banks
- Federal Reserve BankFederal Reserve BankThe twelve Federal Reserve Banks form a major part of the Federal Reserve System, the central banking system of the United States. The twelve federal reserve banks together divide the nation into twelve Federal Reserve Districts, the twelve banking districts created by the Federal Reserve Act of...
- Federal Reserve Bank of New YorkFederal Reserve Bank of New YorkThe Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is located at 33 Liberty Street, New York, NY. It is responsible for the Second District of the Federal Reserve System, which encompasses New York state, the 12 northern counties of New Jersey,...
- Federal Reserve Bank of New York
- European Central BankEuropean Central BankThe European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
- Bank of JapanBank of Japanis the central bank of Japan. The Bank is often called for short. It has its headquarters in Chuo, Tokyo.-History:Like most modern Japanese institutions, the Bank of Japan was founded after the Meiji Restoration...
- Central Bank of Russia
Government sponsored enterprises
- Fannie Mae, Federal National Mortgage Association
- Freddie Mac, Federal Home Loan Mortgage Corporation
United States officials' positions
Of the Emergency Economic Stabilization Act of 2008Emergency Economic Stabilization Act of 2008
The Emergency Economic Stabilization Act of 2008 The Emergency Economic Stabilization Act of 2008 The Emergency Economic Stabilization Act of 2008 (Division A of , commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis...
and its reincarnation as an amendment of H.R. 1424
Public Law 110-343
Public Law 110-343 is an Act of Congress signed into law by U.S. President George W. Bush, which was designed to mitigate the growing financial crisis of 2007–2010 by giving relief to so-called "Troubled Assets."...
, supporters and opponents:
Supporters
- Henry M. Paulson, Jr., Secretary of the TreasuryHenry PaulsonHenry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...
- Ben S. Bernanke, Chairman and a member of the Board of Governors of the Federal Reserve SystemBen BernankeBen Shalom Bernanke is an American economist, and the current Chairman of the Federal Reserve, the central bank of the United States. During his tenure as Chairman, Bernanke has overseen the response of the Federal Reserve to late-2000s financial crisis....
- George W. Bush, PresidentGeorge W. BushGeorge Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
- John McCain, U.S. Senator, Arizona, 2008 Republican nominee for U.S. PresidentJohn McCainJohn Sidney McCain III is the senior United States Senator from Arizona. He was the Republican nominee for president in the 2008 United States election....
- Barack Obama, U.S. Senator, Illinois, 2008 Democratic nominee for U.S. PresidentBarack ObamaBarack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
- Joseph Biden, U.S. Senator, Delaware, 2008 Democratic nominee for U.S. Vice-president
Non-supporters
- Dr. Ron Paul, U.S. Congressman, Texas District 14, former candidate for Republican nomination for U.S. PresidentRon PaulRonald Ernest "Ron" Paul is an American physician, author and United States Congressman who is seeking to be the Republican Party candidate in the 2012 presidential election. Paul represents Texas's 14th congressional district, which covers an area south and southwest of Houston that includes...
- Chuck Baldwin, 2008 presidential candidate for the Constitution PartyChuck BaldwinCharles Obadiah "Chuck" Baldwin is an American politician and founder-pastor of Crossroad Baptist Church in Pensacola, Florida. He was the presidential nominee of the Constitution Party for the 2008 U.S. presidential election and had previously been its nominee for U.S. vice president in 2004...
- Cynthia McKinney, 2008 presidential candidate for the Green PartyCynthia McKinneyCynthia Ann McKinney is a former US Congresswoman and a member of the Green Party since 2007. As a member of the Democratic Party, she served six terms as a member of the United States House of Representatives. In 2008, the Green Party nominated McKinney for President of the United States...
- Bob Barr, 2008 presidential candidate for the Libertarian PartyBob BarrRobert Laurence "Bob" Barr, Jr. is a former federal prosecutorand a former member of the United States House of Representatives. He represented Georgia's 7th congressional district as a Republican from 1995 to 2003. Barr attained national prominence as one of the leaders of the impeachment of...
- Ralph Nader, 2008 independent presidential candidateRalph NaderRalph Nader is an American political activist, as well as an author, lecturer, and attorney. Areas of particular concern to Nader include consumer protection, humanitarianism, environmentalism, and democratic government....