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.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More