Two Wall Street traders are charged with involvement in a “parking” scheme that arranged for one to purchase several securities with the understanding that the other would repurchase them at a profit in order to skirt around company rules.
A financial writer answered his phone back in 2009 to surprisingly hear Jamie Dimon, JPMorgan Chase CEO, on the other end contesting a book review published a day earlier. Once a white knight on Wall Street, the writer’s criticism of the star banker has come to fruition.
Another financial crisis can be avoided if people learn from past mistakes. One commentator revealed a list of six lessons that should now be well planted in the minds of investors. One of the key lessons discussed: ignoring Wall Street’s optimistic forecasts.
Another financial crisis is coming, but it's not the result of too little regulation. Instead, it's the natural outcome of a regulatory scheme that did too much and too little all at the same time, says banking veteran Christopher Whalen.
Lawrence Summers, the presumed top pick to replace Ben Bernanke at the Fed, has long been considered more of a hawk — and a potential Fed chief who would be less accommodating when making decisions about the tapering of MBS and Treasury purchases. For this reason, the markets rallied after Summers dropped out of the race.
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More