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New York Fed
Latest Headlines
Latest Headlines
Private-label vs. GSE putback risk
We drew a distinction earlier between the risks to banks and service agents that stem from potential putbacks and the risks that stem from botched foreclosure documents. They are distinct until the moment that foreclosures en masse are declared null and void and the mortgage investor decided to re
Perhaps the threat of foreclosure litigation is overblown?
The news that PIMCO, the New York Fed and other investors are asking for billions of dollars worth of putbacks hit banks stocks like a bludgeon. But how big of a deal is this? Many assume the plaintiffs have a very strong suit, but it may not be that cut and dried. "Any litigation is going
AIG, Treasury agree to exit plan
AIG ( NYSE: AIG ) and the Treasury Department have agreed to a plan to convert $49.1 billion in AIG preferred shares into a whopping 1.66 billion shares of AIG common stock, which the Treasury will then sell to the public. The plan also calls for repaying the New York Fed to remove it as a senio
Why AIG info was really withheld
It's not so much that Goldman Sachs ( GS ) is favored by regulators, but that it is seen by the public as favored by regulators. And that's precisely what drove the Fed to withhold names of AIG ( AIG ) counterparties back in December 2008, when the media requested names, according to an intern
Fed gets pay offensive in gear
The Federal Reserve Board summoned the CEO of 28 top banks and gave them Feb. 1 deadline for submitting proposals about how they intend to better their pay practices, which have been excoriated as of late. William Dudley, president of the New York Fed, called the industry big-wigs to an extrao
AIG mystery continues
One of the biggest mysteries of the financial crisis is why the Fed decided to approve and essentially pay for AIG ( AIG ) to buyback CDOs from a bunch of banks, including Goldman Sachs( GS ), at par. Many remain puzzled why the banks were not asked to take a haircut.
Bloomberg has tak
Does Goldman Sachs have a PR problem?
Did you hear the news that Oliver Stone and Michael Douglas are revisiting Wall Street for their next movie? It's a timely move because conspiracy theories have stepped up as of late, especially when it comes to Goldman Sachs. It used to be something taken lightly: Goldman Sachs is bent on int
The biggest deal makers on Wall Street?
Who are the biggest deal makers on Wall Street right now? Not Goldman Sachs. Not Morgan Stanley. Try federal regulators, like Treasury Secretary Henry Paulson and New York Fed Bank head Tim Geithner. Washington Mutual has been the target of lots of rumors. The grapevine holds that regulators have
Subprime crisis leads to litigation surge
Is there anyone who profited from the subprime crisis? Well, some hedge funds bet correctly of course, led by Paulson & Co. JPMorgan Chase's Jamie Dimon and the New York Fed's Tim Geithner each saw their status rise. Goldman Sachs was able to separate itself a bit from its investment banki
SPOTLIGHT: Corrigan Group
Gerald Corrigan, the ex-head of the New York Fed who's now with Goldman Sachs, will reprise a role for which he is known: he will study the latest financial crisis and issue recommendations. Article
(financial crisis, Gerald Corrigan, Goldman Sachs, New York Fed)
