Between debating the location of a proposed dog park and discussing taxi permit fees one night last month, the city council in Oakland, California, turned to severing ties with Goldman Sachs.
The National Credit Union Administration (NCUA) has filed suit in Federal District Court in Kansas against J.P. Morgan Securities as successor-in-interest to Washington Mutual Bank, alleging violations of federal and state securities laws in the sale of $2.2bn in mortgage-backed securities to three corporate credit unions.
Dan Loeb's Third Point was the clear hedge fund standout in a horrible year for the industry as almost nine out of 10 managers underperformed the S&P 500. Omega Advisors' Leon Cooperman also scored big.
Here's confirmation of what we feared.
Joel Salomon, a former director at Citigroup, plans to start long-short equity hedge fund SaLaurMor Capital LP this month.
Citi Chief Executive Officer Michael Corbat today announced the roles and responsibilities of the members of his management team and appointed Jamie Forese and Manuel Medina-Mora as Co-Presidents of Citi.
'Banking Technology' reports that one of the big management consultants has developed new software designed to catch employees engaged in corporate wrongdoing.
Bank of America has announced agreements with the Federal National Mortgage Association (Fannie Mae) to resolve outstanding and potential repurchase and certain other claims relating to the origination, sale and delivery of substantially all residential mortgage loans originated and sold directly to Fannie Mae from January 1, 2000 through December 31, 2008 by entities related to Countrywide Financial Corporation (legacy Countrywide) and Bank of America, National Association (BANA).
Goldman Sachs has told clients to bet on shares in Citigroup before fourth-quarter earnings later this month as new CEO Michael Corbat cuts costs and withdraws from some markets.
Any Americas Involvement Announced (AD49) Jan 1 – Dec 31
Banks and other financial companies want the new Conservative government to cut the cost of complying with a swath of new regulation, according to a survey by the Confederation of British Industry.
Five years from its inception, the world’s biggest bailout of a sovereign state will grind to an excruciating halt on Tuesday, theoretically leaving Greece high and dry and on its own under a leftwing government bitterly accusing the EU elite of deliberately using the country as a neo-liberal laboratory.
The international body that represents the world’s central banks has issued a stark warning that an unprecedented period of ultra-low interest rates mask deep weaknesses in the global economy and threaten to be the trigger for the next financial crisis.