Flagstar Trial: Loan file fraud fireworks mask key sampling issue

Alison Frankel, Reuters The bond insurer Assured Guaranty couldn’t have asked for a more engaged judge than U.S. Senior District Judge Jed Rakoff of Manhattan, who threw some tough questions at a Flagstar underwriting manager on Monday, as Assured’s $110 million bench trial against Flagstar nears an expected end this week. Rakoff was fixated on one of the loans […]

Bye, Bye, Bernanke

Bernanke To Retire At The End Of His Term Steve Dibert, MFI-Miami Yes, after nearly six tumultuous years after becoming Chairman of the Federal Reserve, Ben Bernanke is telling close friends that he will be stepping down when his term is up at the end of January 2014. According to Reuters, “Bernanke, who was first appointed to […]

Barney Frank Not Happy With NY AG Suit Against JPMorgan

Aruna Viswanatha, Reuters Democratic Congressman Barney Frank defended the largest U.S. bank on Monday, saying in a statement that the government was wrong to go after JPMorgan Chase & Co for the alleged misdeeds of Bear Stearns. Frank, who served as chairman of the House Financial Services Committee during the Bear Stearns acquisition, said federal […]

Fannie Mae Limiting Loans Helps JPMorgan Mortgage Profits

Jody Shenn, Clea Benson and Heather Perlberg, Bloomberg Fannie Mae and Ginnie Mae are seeking to protect taxpayers as a flood of new lenders apply to do business with them. That’s also helping big banks’ profit and blunting Federal Reserve efforts to boost housing. Fannie Mae, the government-supported mortgage financier, has begun limiting how many loans […]

lloyd Blankfein

Goldman Sachs CEO Lloyd Blankfein Gets Super Catty

Goldman Sachs CEO Lloyd Blankfein Pulls Out The Claws Against Author To say Goldman Sachs CEO Lloyd Blankfein isn’t happy with a former employee Greg Smith would be an understatement.  Greg Smith as you may recall penned an NY Times Op-Ed piece in March. Smith called the firm’s leadership morally bankrupt. Now Smith has raised […]

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