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Latest Headlines
Latest Headlines
Typo costs Goldman Sachs $45 million
A cautionary reminder about the value of a legitimate editorial review of contracts and other important documents: In February Goldman Sachs ( NYSE:GS ) issued four warrants tied to Japan's Nikkei index, according to The Economist .The deal was described in separate regulatory filings which c
Charges against Rajat Gupta test Dodd-Frank
Much has been made of the fact that the SEC brought insider trading charges against Rajat Gupta via an administrative proceeding as authorized by the recently passed Dodd-Frank Act instead of in court. Before Dodd-Frank, the SEC could only push for civil penalties via an administrative action if t
Judges tell foreclosure lawyers to vouch for documents
We've noted that New York has become a hot bed of judicial activity when it comes to the foreclosure fiasco. By some estimates, local judges were rejecting up to 50 percent of all foreclosure attempts, usually for shoddy paperwork. JPMorgan Chase now requires its processors to separately proce
Foreclosure mess started with a small home in Maine
Ground zero in the foreclosure crisis engulfing banks has been located: Nicolle Bradbury's $75,000 house in Denmark, Maine. When she faced foreclosure, she turned to a nonprofit group, Pine Tree Legal Assistance, "where for once in her 38 years, she caught a break," according to the New York Ti
Goldman Sachs vs. Hollywood producer case heats up
The battle pitting a top Hollywood producer against troubled Goldman Sachs seems to be heating up. Goldman (NYSE: GS ) has answered Joel Silver's $30 million lawsuit, asking it be tossed out of court for being "implausible" and "absurd," reports the Hollywood Reporter .
The man behind "D
Erroneous foreclosures a big problem?
Incidents like this are not winning the likes of Bank of America ( BAC ) any points with the public. Charlie and Maria Cardoso paid for a retirement home in Spring Hill , Fla. with cash in 2005. They owed no money on the house, but Bank of America "foreclosed" anyway. They removed belongings and
Is it research or is it insider information?
If there's one thing that the buy-side has been hungry for in recent years, it's been actual industry research. They want to hear from the horses' mouths where industries are heading. There may be some hedge funds out there that see nothing wrong with the methods employed by Raj Rajaratnam and his
Madoff personal assets for sale
A real estate market recovery would be good news for investors burned by Bernard Madoff, who's serving a 150-year prison sentence. The government is moving to sell off more personal assets by Madoff (and others), which has resulted in some interesting properties on the block.
His house in Mont
So long Ken Lewis?
People have been speculating about how long Ken Lewis will remain as CEO of Bank of America, for a while. The question now is whether Judge Jed Rakoff's refusal to rubber stamp a settlement between the bank and the SEC is the death knell; some think it is.
"One way or another, he's going," one
Madoff seeking to cut a deal?
Bernard Madoff may not need his day in court after all. One piece of news from the hearing on his bail was that his lawyer, Ira Lee Sorkin, is "engaging in discussions concerning a possible disposition of this case," reports the New York Times . You would think this will include some substantia
