Items Tagged with 'Financial crisis'

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  • Billionaire says new global financial crisis brewing

    Italy to become the next Brexit?
    Is the world on the verge of another major financial crisis? One billionaire warns that could very well be the case. Billionaire George Soros, one of the world’s most successful investors, says as the dollar surges and a capital flight ensues from emerging markets, the world could be facing another major financial crisis.
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  • SEC abandons case against Thornburg Mortgage executives

    Execs accused of concealing company’s failing financial condition
    The Securities and Exchange Commission is giving up in its case against two former Thornburg Mortgage executives who stood accused of hiding the financial condition of Thornburg as the once-dominant mortgage lender stumbled towards collapse during the financial crisis.
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  • Goldman Sachs reaches $100 million in consumer relief in $5 billion settlement

    Still a long way to go to reach consumer relief requirement of $1.8 billion
    Goldman Sachs is progressing in the consumer relief obligations that are part of the $5 billion settlement reached in April over toxic mortgage bonds, the settlement’s monitor said in a new report. The report showed that Goldman Sachs passed the $100 million mark on its way to the $1.8 billion in consumer relief it's required to provide as part of the settlement.
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  • RBS sets aside $3.8 billion more for RMBS settlement with DOJ

    Getting closer to the finish line?
    It appears that despite a new administration running the ship in Washington, D.C., the federal government still plans to seek restitution for the events that led to the financial crisis, or at least that’s what one foreign bank thinks. Royal Bank of Scotland said Thursday that it is setting aside $3.8 billion to be used to settle with the government.
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  • Moody’s reaches $864 million settlement over RMBS credit ratings

    Settlement dates back to financial crisis
    Moody’s Corp. agreed to pay nearly $864 million to settle claims for its role providing credit ratings for Residential Mortgage-Backed Securities and Collateralized Debt Obligations that contributed to the financial crisis. "Moody’s failed to adhere to its own credit rating standards and fell short on its pledge of transparency in the run-up to the Great Recession," said Principal Deputy Associate Attorney General Bill Baer. 
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  • U.S. tries a second time to convict MBS trader Jesse Litvak

    Appeals court tossed out first conviction
    The U.S. is trying a second time to convict former Jefferies managing director Jesse Litvak. In July 2014, Litvak was sentenced to two years in prison for lying to clients about mortgage-backed securities, but the case quickly turn a turn the opposite direction when an appeals court tossed out his conviction. Here goes round two.
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