Items Tagged with 'Financial crisis'

ARTICLES

Is settlement looming between U.S. and RBS over pre-crisis mortgage bonds?

On to the next one…
Now that the U.S. government secured another massive settlement over pre-crisis mortgage bond practices, this time with Goldman Sachs to the tune of $5 billion, only one major investigation remains outstanding – Royal Bank of Scotland. And according to a report from Reuters, settlement between RBS and the feds could be coming in the next few weeks.
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Goldman Sachs reaches $5 billion settlement over toxic mortgage bond claims

Settlement reached with federal RMBS task force
Goldman Sachs said Thursday that it reached a $5 billion settlement over claims related to toxic mortgage bonds sold to investors in the run up to the financial crisis. The agreement, which would still need to be finalized, would resolve actual and potential civil claims brought by the U.S. Department of Justice and other parties, relating to the firm’s securitization, underwriting and sale of residential mortgage-backed securities from 2005 to 2007.
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Bernie Sanders unveils foundation-shattering Wall Street reform plans

Vows to break up Wall Street’s biggest banks; sweeping reform of credit ratings agencies
It’s not exactly a stretch to say that Sen. Bernie Sanders is not the biggest fan of Wall Street. In a wide-ranging speech on Wall Street and the economy given Tuesday, Sanders detailed just how different life would be for the “too big to fail” banks under a Sanders administration. In fact, there would be no life for the “too big to fail” banks if Sanders is elected president, only death.
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The Big Short’s Michael Burry on disastrous Fed policies; failure of Dodd-Frank

Tells New York Magazine that current financial environment is ‘toxic’
Michael Burry, one of the featured players in both the book and movie “The Big Short,” is thought of as a “soothsayer” who saw the financial crisis coming before anyone else. Burry recently spoke with New York Magazine about his views on the run-up to the financial crisis, the aftermath of it, and where things stand now. And his forecast isn't good.
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DOJ reportedly pursuing criminal charges against JPMorgan Chase, RBS executives

U.S. finally targeting individuals for toxic mortgage bonds?
Following through on policy changes announced earlier this year that opened the door to individuals being held criminally responsible for corporate misconduct that helped cause the financial crisis, the Department of Justice is reportedly pursuing criminal charges against executives at the Royal Bank of Scotland and JPMorgan Chase.
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The bad news isn't close to over for the housing sector

Is housing really recovering?
A recent industry article reported that bad loans remain well above pre-crisis levels. Does this sound like the housing sector is in a real recovery? Here's one industry expert's thoughts on the issue. You can decide from there whether this recovery is real or not.
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Justice Department finally sets sights on Wall Street executives

Changes could lead to prosecution for individuals
In a move that will undoubtedly have some shouting “finally!” and others saying it’s “too little, too late,” the Department of Justice announced that it will begin to target individual employees for corporate misconduct in addition to the companies themselves. Here are all the details, straight from the DOJ itself.
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