More Lessons From Bernie

Bernie Madoff’s accountant pleaded guilty today regarding his involvement in the multi-billion dollar Ponzi scheme. Bloomberg has the scoop on the guilty plea from David Friehling, who indicated he failed to execute the required independent investigation into Bernard Madoff Investment Securities. HousingWire magazine reviews an account of the Madoff debacle, Too Good to be True: the Rise and Fall of Bernie Madoff, in the November issue. Book author Erin Arvedlund indicates Madoff’s auditor operated out of a small office with a minimal staff, including Friehling. The operation’s accountants, Arvedlund said, were not peer-reviewed. The latest news around the investment scheme comes in the months after the scandal began to unwind in large financial settlements. Spanish lender... more»

Push for Fire Sprinklers in New Homes Douses Opposition

[Update 1: Clarifies NAHB's position] The International Code Council’s (IRC) recent decision to mandate the installment of fire sprinklers in new homes will go forward, despite protest and opposition from the National Association of Home Builders. The council is responsible for publishing the International Residential Code, and last year, updated the residential building code to require fire sprinkler systems in all new homes built after January 1, 2011. The code is used as the basis of 48 states’ residential construction standards. But at a hearing last week, the NAHB petitioned the council to repeal the sprinkler requirement, which was rejected by a committee vote of 7 to 4. Members of the residential building code committee include homebuilders, building and fire safety officials, architects... more»

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Events

2009 Dec 09 -- 2009 Dec 10

RMBS: Assessing Value and Risk

This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.

2010 Jan 13 -- 2010 Jan 14

2010 Collection Technology Summit

The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net