Audit Notes: NYTPad, Perp Walks, Warren’s War

What will a newspaper look like on the iPad?

Here’s a blurry sneak peek of screenshots of The New York Times app via 9to5Mac:

It looks like Times Reader, which is to say: ten times better than the Web. Two bad signs: It’s free and I don’t see any ads in the pagination.

Edward Harrison asks a question about the mortgage crisis we’ve often wondered here at The Audit:

Where are the investigations, perp walks, convictions? So what happened to all that fraud?

He asks that in response to a CNN article with this lede:

Rampant fraud in the mortgage industry has increased so sharply that the FBI warned Friday of an “epidemic” of financial crimes which, if not curtailed, could become “the next S&L crisis.”

Assistant FBI Director Chris Swecker said the booming mortgage market, fueled by low interest rates and soaring home values, has attracted unscrupulous professionals and criminal groups whose fraudulent activities could cause multibillion-dollar losses to financial institutions.

That article came out in 2004.

Here’s part of the answer to Harrison’s questions.

Fortune’s Katie Benner profiles Elizabeth Warren:

When asked why the government didn’t capitalize on the perfect storm of a crisis and populist backlash to change the rules for Wall Street in the beginning of 2009, Warren hesitates. She doesn’t want to criticize either party or the Obama White House. But she says that it was a missed opportunity and one that the administration may never have again.

“People are losing hope for real reform, so they’re growing quiet,” Warren says. “It means they’re just losing trust in lawmakers, not that they are okay with the way this has all played out.”

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at Follow him on Twitter at @ryanchittum.