Items Tagged with 'subprime'

ARTICLES

  • Former Deutsche Bank head subprime mortgage bond trader fires back at U.S. fraud charges

    Denies all charges, accuses government of ‘concocting a baseless theory of fraud’
    Paul Mangione, the former head of subprime mortgage trading at Deutsche Bank who stands accused over overseeing systemic mortgage bond fraud during the run-up to the financial crisis, says that the government kowtowed to public pressure to see individuals held responsible for the financial crisis by filing lawsuit against him that is wrong, unfair, and without merit.
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  • Shocker: U.S. sues former Deutsche Bank head subprime mortgage bond trader for crisis-era fraud

    Paul Mangione accused of ‘systematically, intentionally’ lying about subprime mortgages
    In what can only be regarded as a shocking development, the United States is suing the former head of subprime mortgage trading at Deutsche Bank over “systematically and intentionally” lying about the quality of subprime mortgages that backed nearly $1.5 billion in mortgage-backed securities in the run-up to the crisis.
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  • Goldman Sachs settles Abacus CDO lawsuit

    ACA Financial Guaranty Corp wanted $120 million
    Goldman Sachs will pay an undisclosed amount of money to settle another lawsuit stemming from its actions in the run-up to the financial crisis. ACA Financial Guaranty Corp brought the lawsuit against Goldman Sachs, accusing the company of lying about a pool of securities backed by subprime mortgages tied to the failed Abacus collateralized debt obligation.
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  • WATCH: Hollywood's A-list brings subprime to the silver screen

    Brad Pitt. Steve Carell. Christian Bale. Ryan Gosling. The Big Short
    Flashback to the 2008 timeframe where the subprime debacle was just taking hold. Enter into that cast of characters who bet against the big banks, and potentially, the American economy to get rich while the Empire crumbled. Add in a couple of Hollywood A-listers and you get The Big Short movie, based on the book by Michael Lewis.
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  • SEC settles with former Fannie Mae execs over subprime fraud

    The settlement amount is much smaller than you think
    A 2011 lawsuit brought by the Securities and Exchange Commission against two former Fannie Mae executives is over. The execs were charged with misleading investors about the quality of subprime mortgages. However, it's the fine print that is leaving people wondering.
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  • Are liar loans sneaking back into the market?

    This time they're not nearly as widespread
    Beginning hints of liar loans, which are loans made without verifying people's finances, are emerging back into the housing market. Liar loans widely participated in the hoopla that contributed financial crisis, but this time around they only bear passing resemblance to the past.
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  • It’s over: SEC settles with Freddie Mac executives

    Former Freddie Mac CEO, others faced charges over subprime mortgages
    The Securities and Exchange Commission’s high-profile case against several former Freddie Mac executives over allegedly misleading investors about the quality of subprime mortgages is now over, and it ended rather quietly.
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