Blog Watch: Naked Shorting Will Cause US Exchange Exodus Benzinga Forbes writer Elizabeth Moyer and Euromoney magazine's Helen Avery covered the scandal for the financial media, but the Wall Street controlled corporate … and more
Financial Times SEC: No longer a doormat Financial Times The SEC's apparent ignorance of the toxic debt time-bomb building up on Wall Street ahead of the financial crisis exposed weaknesses in its market … The SEC Needs a Win Against Mozilo Seeking Alpha (blog) SEC Vows To Pursue More Enforcement Action From Crisis -FT Wall Street Journal SEC Steps Up Crisis Action ai5000 Emii.com all 17 news articles
News of the cuts is likely to alarm the City as well as Wall Street, where BarCap has a sizeable presence following its acquisition of the US operations of Lehman Brothers at the height of the financial crisis
The Big Four accountants dominance of auditing is facing mounting international scrutiny after the UK’s House of Lords launched a review into the firms’ role in the financial crisis
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UK Lords take long hard look at Big Four
The summer stock market blast higher has wiped out the conviction of short sellers. Bears are back in hibernation and Stock Short Sales at 2-Year Low, Data Explorers Says.Investors are exiting bearish bets on global equities, pushing bullish wagers on stocks to a two- year high versus short sales, according to Data Explorers. The firm’s long-short ratio has risen to 9.5, having surged from 5.75 in September 2008 when Lehman Brothers Holdings Inc.’s collapse intensified the financial crisis, …
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Bears Go Into Hibernation – Stock Short Sales at 2-Year Low
General Electric unexpectedly increased its quarterly dividend by 20 per cent in an effort to show that the diversified industrial conglomerate is over the worst of the financial crisis and confident about the future.
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GE raises dividend in show of strength
Hugh Hefner, the man with perhaps the strongest claim to having taken sex public, wants to go private. Given the financial state of his company, he may be making a virtue of necessity
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Private matters
Markets hate uncertainty, and this week two of the great uncertainties that have hovered over Wall Street for months — the SEC case against Goldman Sachs and the final shape of the financial reform bill — were finally resolved
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US bank results worry investors
The US bank confirms investors’ fears that Wall Street’s year-long rebound from the financial crisis had come to a halt, offsetting steady improvement in the financial health of the country
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JPMorgan signals end of Wall St rebound
The fact that the internal candidates Jeff Urwin and Kevin Willsey were promoted to lead JPMorgan’s investment bank in Canada and the US shows how the group thrived while others suffered in the financial crisis
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JPMorgan names new joint leaders of US investment unit
Investment banks are once again hiring bankers to sell and trade mortgage-backed securities, the packages of loans that were at the heart of the financial crisis, reflecting a belief that the worst is over in the US housing market
Intel reported the best quarter in its history as corporate customers increased information technology spending, boosting hopes that businesses are engaged in a long-awaited “refresh” of both hardware and software in the aftermath of the financial crisis
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Record quarter for Intel lifts tech sector
The mortgage financiers seized by the US government during the financial crisis have paid $635m in fees to banks this year, making them Wall Street’s biggest capital markets customers in the first half of 2010, according to recent analysis
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Fannie and Freddie are Wall Street’s top customers
The US government has collected more than $10bn in cash, dividends and securities from its bail-outs of Citigroup – a sign that the financial sector’s quick rebound from the crisis is helping the authorities to make money on its rescue programmes
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US collects $10.3bn from Citi bail-out
The last-minute decision by the US Congress to scrap a $19bn bank levy to pay for the financial reform bill has left Wall Street nonplussed
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Wall Street sees little gain in levy win
Joseph Cassano, the former AIG executive whose financial-products division helped trigger a $180bn government bailout, launched a staunch defence of his business’s actions leading up to the financial crisis
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Former AIG executive defends actions
Heightened regulatory scrutiny and litigation arising in the wake of the financial crisis present a significant growth opportunity for the US business advisory group
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Tighter rules offer opportunities to FTI
Whether wrangling with a new consumer protection agency or being held to stricter underwriting standards for home loans, retail banks are preparing for broad changes because of the financial reform bill
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Retail banks feel pinch of tougher oversight
Obscure entities known as futures commission merchants (FCMs) are set to see their role in the financial system expand dramatically under US reform legislation, pushing most derivatives transactions into clearing houses
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Obscure brokers to get a new role
This package threatens to hurt banks’ shareholders without making the financial system any safer
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Bank reform
Washington, DC – June 22, 2010 – (RealEstateRama) — Loan modifications and refinancings by Fannie Mae and Freddie Mac increased significantly in the first quarter as the volume of permanent modifications under the Administration’s Home Affordable Modification Program (HAMP) tripled, … Additionally, FinCEN today also provided updated guidance to the financial industry concerning new scam techniques that financial professionals should watch for and report. Foreclosure.com …
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Fannie Mae and Freddie Mac Loan Modifications and Refinancings …
Dealmaking chemistry is back on the continent – two acquisitions in the chemicals sector, both mothballed by the financial crisis, are imminent
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European chemicals
Lenders trading complex instruments that were at the heart of the financial crisis are given extra time to adjust to new capital charges expected to make them more expensive to use
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Banks granted another year over derivatives
What happens is that law enforcement will start cracking down on mortgage fraud and loan modifications scams . So, these creeps just move into a new area where law enforcement is not busting people. … Video: Fannie Mae and Freddie Mac’s impact on the financial crisis · Veterans Protest More Troop Deployment to Afghanistan. About Moe Bedard I am the founder of LoanSafe.org, LoanWorkout.org and CEO of MoeSeo Inc. My work has been featured in the New York Times, LA Times, …
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Car Loan Modifications: Is this the new scam of the week? | Loans …
The head of MetLife, the largest life assurer in the US, has criticised the financial reforms being finalised by Congress, saying some measures betray a ‘total misunderstanding’ of the insurance industry and could hit the sector hard
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MetLife chief slams US financial reforms
Fannie Mae, a corrupted agency, has become a handy all purpose scapegoat. The lack of a provision in the financial reform legislation to resolve the mess at Fannie has become the main alibi that Republican senators give for voting against the whole reform package. …. For the past quarter century, the same selfish forces the constructed credit default swaps and subprime mortgage scam have done everything in their power to destroy the labor movement in this country. …
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Robert Kuttner: Don't Blame the Dream of Home Ownership
A congressional panel created to review the US government’s response to the financial crisis is raising questions about the multiple roles that lawyers and bankers played during the collapse of insurer AIG
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AIG bail-out ‘entanglements’ under scrutiny
The appetite of emerging markets for processed food, has confounded fears of a big drop in demand in the wake of the financial crisis
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Emerging markets appetite for western food
SEC fighting fake feds site New York Post … Wall Street schemers — now it's battling a Web site that appears to be trying to scam investors by suggesting it has ties to the financial regulator. … and more
Robyn Blumner: A culture of criminality pervades Wall Street Pocono Record As the financial reform bill wends its way through the Senate, one has to wonder whether lawmakers understand the true nature of the massive fraud that was …
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Robyn Blumner: A culture of criminality pervades Wall Street – Pocono Record
With all the focus on stock market gyrations this past week, here are a few stories of interest you may have missed. EU Upset With Moody’s, S&P, Threaten to Create Own Rating Agency EU’s Financial Services Chief To Probe Credit Rating Agencies “I think we need to go further to look at the impact of the ratings on the financial system or economic system as a whole…,” European Internal Markets Commissioner Michel Barnier told members of the European Parliament. “If …
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EU Pissed at Rating Agencies; Gold Tops $1,200; Pentagon Lobbies Against Raises for Troops; MUFU Redemptions Blocked In Germany; Everybody for Himself
Any American who has been paying attention knows that Freddie Mac and Fannie Mae were major players in the financial meltdown. It is clear to many that Congress caused the crisis by forcing banks to make bad loans and using these two …
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Congress Cover Up of Fannie Mae, Freddie Mac Scam
The owner of the BP-contracted rig leaking oil in the Gulf of Mexico paints a grim picture of the financial, legal and PR implications of the crisis in a regulatory filing
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Transocean warns of fallout from explosion
Bear Stearns’ former executives blamed market rumours for the demise of the investment bank in 2008, an event that marked a dramatic new phase in the financial crisis
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Bear Stearns chief blames market rumours for collapse
The Guardian Mr. Buffett Goes to Bat for Goldman, Moody's Wall Street Journal Warren Buffett, long a critic of the excesses of Wall Street and the risks of derivatives, is emerging as a stalwart defender of the financial system. … Warren Buffett defends Goldman Sachs; says Wall Street giant didn't commit fraud New York Daily News Did Goldman Sachs Commit a Crime? TIME (blog) US Stocks Gain Most Since February on Economy; Goldman Jumps BusinessWeek domain-B
So you have the same crooked people who have contributed to the financial meltdown — Goldman, Fannie , socialists and out and out crooks — actually trying to “fix” the economy and the environment and, oh boy, believe me the fix is in. … The Vatican found this out when they became “carbon neutral,” but not one tree was planted in Hungary’s so-called “Vatican forest” for offsets. Who scams the pope? You want to know about warming? I got “eternal warming” for you. …
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The Residential Real Estate Crash Index Message Board – Msg: 26499974
Washington Post Whitman camp's plan: Link Brown, Goldman San Jose Mercury News As the public backlash grows against Wall Street corporations and banks for their role in the financial meltdown and ensuing national economic collapse, … Whitman raises $480000 per day, mostly from herself California Watch (blog) Calif. labor unions launch anti-Whitman campaign San Jose Mercury News Labor group to exploit Whitman's Wall Street ties San Jose Mercury News all 373 news articles
Evening Buzz: Burning Gulf Oil Spill CNN (blog) Harry Markopolos, the financial analyst who flagged the Bernie Madoff scam before anyone and was ignored, is now focusing on the health care industry. … and more
Reuters UK Goldman Sachs, the Wall Street titan on the bench News Politics Goldman Sachs, the Wall Street titan, the guardian of the financial system, the largest among the big business in the lucrative business of banking. … Financial reform needed Estes Park Trail-Gazette What Congress has in store for Goldman CNNMoney World Socialists Obamas phony banking reform Before It’s News CNBC
In his first public outing since the SEC pressed civil fraud charges against Fabrice Tourre and Goldman ten days ago over a mortgage-backed security, the 31-year-old Frenchman appeared on Tuesday before a high-powered Senate committee probing the bank’s role in the financial crisis
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‘Fabulous Fab’ gets little love from Senators
The scam that was and is Fannie Mae and Freddie Mac was the root cause of the financial meltdown of 2008, and the root cause of the Fannie and Freddie scam was liberal congressmen like Bahney Fwank, who routinely assured everyone that …
Goldman Sachs officials privately disparaged a complex $1bn mortgage security that the Wall Street bank sold to investors, according to e-mails released by Senate investigators on the eve of hearings on the bank’s role in the financial crisis
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Goldman ‘criticised $1bn loan product’
Canadian banks, relatively unscathed by the financial crisis, are stepping up their presence in the US with the acquisition of several failed US institutions
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Canadian banks boost presence in US
Goldman Sachs’ Wall Street rivals have been scrambling to review the collateralised debt obligations they worked on in the run-up to the financial crisis, as the banking industry prepares itself for the next phase of US regulatory action
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Wall St banks scrutinise pre-crisis CDOs
The top two US ratings agencies – Moody’s and Standard & Poor’s – were unduly influenced by investment bankers who paid their fees and wilfully ignored signs of fraud in the lending industry in the lead-up to the financial crisis, a congressional investigation has found
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Senate inquiry faults ratings agencies
Two large US regional banks reported strong first-quarter earnings , continuing the drumbeat of upbeat economic news from the financial sector
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Regional lenders’ earnings add to optimism
New York Daily News Lupica: Symbols of greed and heroism are just yards apart New York Daily News “I understand why people get frustrated with the way Wall Street works,” a friend of mine in the financial industry said yesterday. …
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Lupica: Symbols of greed and heroism are just yards apart – New York Daily News
Financial Times Wall Street Wrap CNBC Regulators allege that Goldman, which had been the golden child of Wall Street while other firms around it tarnished during the financial crisis, … Big week on Wall Street CNNMoney Top Leaders at Goldman Had a Role in Mortgages New York Times Fraud charge deals big blow to Goldman's image The Associated Press Wall Street Journal
SEC accuses Goldman Sachs of civil fraud The Associated Press The charges come as lawmakers seek to crack down on Wall Street practices that helped cause the financial crisis. Among proposals Congress is weighing are … and more
A judge approved a plan by the Lehman Brothers estate to form an asset management company that would represent a new beginning for the defunct investment bank whose collapse fuelled the financial meltdown in 2008
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Lehman plan for new group is approved