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Government Involvement
Latest Headlines
Latest Headlines
Ex-Countrywide execs look to distressed securities
Some might find this almost ironic. A group of former Countrywide executives, led by former CFO Stanford Kurland, have formed a new firm PennyMac, which aims to profit from distressed mortgage securities. PennyMac aims to raise $750 million in a stock offering.
Presumably, the funds will be us
Details on Smith Barney-Morgan Stanley deal
Apparently, talks between Citi and Morgan Stanley have progressed the last few days, and the Financial Times says a deal is imminent. For Citi, the benefits are clear: A capital boost of as much as $6 billion. That represents "the difference between the valuation of Smith Barney on its books a
