Tag:
real estate
Latest Headlines
Latest Headlines
State attorneys general energized for foreclosure fight
We've noted before that the foreclosure fiasco has become something of a populist issue. A great sign of this is that state attorneys general seem to be at the vanguard of the multi-level probe into possible wrong-doing. They are bent on rooting out any fraud and at a minimum shockingly shoddy pra
Hot tub meeting puts Bank of America on trial
Bank of America (NYSE: BAC ) thought it won a legal victory when a federal judge in Virginia ruled that the banks did not have to stand trial for its role in a real estate scam that victimized school teachers in Fairfax County, Va. But the revelation of a hot tub meeting involving a Bank of Ame
Wealthy homeowners to strategically default in droves?
For a while, it seemed that the real estate crisis was hitting mainly the lower- to middle-classes. An element of snobbery could be detected in the conversation. Many made the point that people who took out sub-prime and other loans were not too smart and should have been aware of the big looming
Short-sale fraud on the rise
What is it about the real estate and mortgage industries: they always seems so rife with fraud. This was true of course in the heady days of the bubble, when tons of fraud ( fraud news) occurred in the name of getting people--anyone--approved for financing.
In the wake of the financial cris
Credit unions and CDOs: Toxic combination
When you think of credit unions, you think of safe, conservative retail banking and lending operations. For the most part, that image is on the money. But at least one thrift got itself into a lot of trouble by dabbling in collateralized debt obligations ( CDO news), which some may find shockin
Bankers still aim for inconspicuous consumption (relatively)
Why are Bentleys in vogue on Wall Street? It could be that they are slightly less expensive than other traditionally in-vogue cars, say a Rolls Royce. But they are also assumed to attract less attention.
With bonuses back in style, purveyors of high-end real estate and goods are sensing an upt
CalPERS at a crossroads
CalPERS, the world's largest pension fund, has arrived at a crossroads. The credit crisis has not been kind to it and its plans to diversify away from the United States and away from stocks and bonds. The pension's asset value peaked at $260 billion in October 2007 before plunging to $160 billion
Are the good times back in NYC?
Manhattan and much of the city really thrives on Wall Street. The recession was tough on the entire Big Apple. But is the local economy about to heat up again, now that bonuses are back? High-end retailers and real estate agents are no doubt salivating. It won't be a luxe feeding frenzy just yet,
Mid-east SWFs bullish again?
Mid-east sovereign wealth funds are said to be prowling again for Western investments. It's quite likely that they sense a market bottom for some industries. Recent investments include automakers and real estate. We'll see if they cause the same consternation they did earlier. Article
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New banks took on too much risk
The idea of banking drew lots of entrepreneurial activity in the 2000s. With rates declining and real estate soaring, it seemed like easy money, but those new entrants are now failing at above average rates.
The FDIC says new lenders--those who have been insured by the FDIC for less than seven
