Lehman Brothers Holdings Inc.’s bankruptcy estate will pay $2.38 billion to compensate for its role in the previous decade’s mortgage crisis, a federal judge decided, far less than the $11.4 billion some hedge funds had sought.
Royal Bank of Scotland on Tuesday agreed to pay $500m to settle charges of using deceptive practices while marketing and selling mortgage-backed securities before the 2008 financial crisis.
Some of this is difficult to comprehend.
This week should be a landmark for Royal Bank of Scotland. The publication of its annual results on Friday should mark the first time since the financial crisis that the taxpayer-backed bank has reported a profit for shareholders.
High-level talks involving the U.K. Treasury and U.S. Justice departments earlier this week aimed to resolve a fine for Royal Bank of Scotland.
Financial institutions have fewer tools to deal with a crisis than ever before, according to the Harvard economist.
There is a complacency in the air as we stumble into 2018.