Goldman Sachs said it could rack up as much as $3.4bn in losses from the various regulatory and legal proceedings the bank faces following the financial crisis
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Goldman faces legal bill of up to $3.4bn
The country’s largest lenders are being warned by regulators to prepare for increasing interest rates, which some officials see as a threat to the financial industry’s recovery
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US banks brace for interest rate rises
The American entrepreneur’s withdrawal of his name days after the announcement of his appointment has exacerbated the steep decline in the financial services company’s market value
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Pelino backs out as Gerova’s chairman
Huffington Post Alone Won't Rescue AOL, A Case Study into Failure The Market Oracle Even Greenspan recently admitted the financial collapse was due to Wall Street fraud . If Greenspan is willing to admit fraud caused the collapse, … and more
HNN Huntingtonnews.net FCIC Report Turns a Blind Eye to Wall Street Fraud The Nation. But there is one glaring omission—the massive fraud that occurred on Wall Street . William Greider, a prominent political journalist and author, … Postmortems on the financial crisis: The official verdict The Economist all 9 news articles
And investors may not believe the government when it says it will not bail out the new firms — that was the official government stance on Fannie and Freddie for years. If the market views the new firms as too big to fail, ….. the laws were written by the financial lobbyists and Treasury and they make certain they followed what was written to the letter of the law so they couldn’t be prosecuted and could keep making money hand over fist even after the scam was revealed. …
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White House Allies Push Bank Lobby Line On Government Mortgage Reform
Why, after the lessons of the financial crisis, aren’t pension funds diversifying, asks John Plender, when there are ways to do so without having to sacrifice value
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Following the herd risks capital loss
Wells Fargo, the fourth-largest US bank by assets, said on Wednesday that quarterly lending had risen for the first time since the financial crisis began
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Wells Fargo in lending boost
The insurance group, bailed out by the US government during the financial crisis, is on track to complete a recapitalisation as soon as next week
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AIG moves closer to recapitalisation
Six US banks have repaid funds the US Treasury supplied during the financial crisis, returning $2.7bn to taxpayers
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Six regional banks repay Tarp funds
Trading of stocks, options and futures is not unaffected by sweeping changes to the financial landscape as a result of the regulatory overhaul – the biggest since since the US stock market crash of 1929
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Exchanges also face financial reform
Goldman Sachs has rebuffed accusations that its trading practices contributed to the collapse of two Bear Stearns hedge funds in the early days of the financial crisis in 2007
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Goldman hits back at accusations over Bear funds’ fall
Proving that on occasion the little guy can indeed win, Ron Paul announced to tonight that he will be named Chairman of the Monetary Policy Subcommittee. When asked if he would take over chairmanship of the subcommittee, Paul replied “The chairman of the financial services subcommittee, Spencer Bachus, has told me today verbally that I will be the chairman of that subcommittee. He was the one who appointed me as the ranking member and he is sticking to his guns and that I will have …
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Ron Paul Claims Chairmanship of Monetary Policy Subcommittee, Prepared to Subpoena Fed
Company forecasts that it will earn more than $3bn this year and post even higher profits in the next two years, underscoring its rapid recovery from the financial crisis
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General Electric bullish on finance arm
Meredith Whitney, a Wall Street analyst who shot to prominence with bearish calls on banks before the financial crisis, plans to set up a credit-rating agency to go head to head with Moody’s Investors Service and Standard & Poor’s
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Analyst to rival Moody’s and S&P with own rating agency
MERS was jointly owned by Fannie Mae and Freddie Mac (yes, those two again …I know, I know: like the chlamydia and the gonorrhea of the financial world…you cure ‘em, but they just keep coming back). “The purpose of MERS was to help …
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Looks Like Fannie Mae and Freddie Mac Crossed the Streams Again …
Citigroup emerged from the financial crisis as the sickest of the large US banks placed under the government’s care. More than a year later, the patient’s prognosis is improving
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Citi edges closer to recovery in results
A columnist at Reuters Breakingviews, the financial commentary and analysis service, resigned after it was discovered that he had written about companies in which he held shares and made trades shortly afterwards
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Reuters journalist quits over share deals
MERS was jointly owned by Fannie Mae and Freddie Mac (yes, those two, again, I know, I know: Like the chlamydia and the gonorrhea of the financial world—you cure ‘em, but they just keep coming back). …
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Are ALL Mortgage Backed Securities a Scam? | Stocks!
MERS was jointly owned by Fannie Mae and Freddie Mac (yes, those two, again, I know, I know: Like the chlamydia and the gonorrhea of the financial world—you cure ‘em, but they just keep coming back). The purpose of MERS was to help in …
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Are ALL Mortgage Backed Securities a Scam? | Alexander Higgins Blog
Scam artists target service members DVIDS “There are scams that usually reflect the economic environment, these include work -at- home and foreclosure scams ,” said Sarah Miller, the financial … and more
Nouriel Roubini makes the case What America needs is a payroll tax cut.Nearly three years since the onset of the financial crisis, the continued weakness of the labor and real estate markets, U.S. consumers’ unbalanced balance sheets and fading support from policy stimulus have transformed the risk of a double-dip recession from unlikely to about a 40 percent likelihood. The administration knows that it needs to fashion a revenue-neutral fiscal stimulus that increases labor demand and …
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Response to Nouriel Roubini on "America Needs a Payroll Tax Cut"
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