Deutsche Bank AG research analyst Pankaj Jha left the firm after it told clients one of his reports contained “significant similarities” to an article from Royal Bank of Scotland Group Plc. Jha left his position in New York as a mortgage-bond analyst this week, according to people familiar with the matter who declined to be identified because they weren’t authorized to discuss it. Jha and John Gallagher, a spokesman for the Frankfurt-based bank, declined to comment.
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This week, the average U.S. fixed rate for a 30-year mortgage jumped to 3.69%. That’s still more than a percentage point lower than the 4.85% of the year-earlier week.
Mark Calabria, director of the Federal Housing Finance Agency, said he’s willing to wipe out Fannie Mae and Freddie Mac shareholders if needed to protect taxpayers from another bailout. “I’m working for the taxpayers,” Calabria said. “If the circumstances present themselves to where we have to wipe out the shareholders, we will.”