Super-Rich Raise Home Prices To Increase Allure

Vikram Pandit is resigning as CEO of Citigroup, the company announced in a press release Tuesday. He will be replaced by Michael Corbat, previously the bank’s CEO of Europe, Middle East and Africa. The company’s Chief Operating Officer John P. Haven is also stepping down, according to the release. More from the Associated Press: Vikram Pandit stepped down […]

Looks Like “Rich Dad” Robert Kiyosaki Is Now A “Poor Dad”

Kiyosaki Files for Chapter 7 Bankruptcy Jill Krasny, AOL Daily Finance Robert Kiyosaki, author of the bestselling “Rich Dad, Poor Dad” series, has filed for Chapter 7 bankruptcy protection after losing a nearly $24 million court judgment to The Learning Annex,The New York Post reports. As one of Kiyosaki’s earliest backers, The Learning Annex was […]

Assured says Flagstar must pay for shoddy mortgages

Nate Raymond, Reuters Flagstar Bancorp Inc (FBC.N) had to know by 2009 that hundreds of loans it originated didn’t meet underwriting guidelines when it sold $900 million in mortgage-backed securities to investors, a lawyer for a bond insurer said on Wednesday. At the start of a civil trial over Flagstar’s mortgage securities practices at the height […]

Dimon Says JPM-Chase Took One For the Taxpayers

Reuters via Huffington Post JPMorgan Chase & Co Chief Executive Jamie Dimon said his company has lost up to $10 billion as a result of the government asking him to buy teetering Wall Street firm Bear Stearns during the financial crisis. “I’m going to say we’ve lost $5 billion to $10 billion on various things […]

JPMorgan Rivals Face Billions in Damages After MBS Case

David McLaughlin, Bloomberg JPMorgan Chase & Co. (JPM)’s rivals may face government lawsuits claiming tens of billions of dollars in damages tied to investor losses on mortgage bonds after New York’s attorney general filed a fraud lawsuit against the nation’s biggest bank by assets. A state-federal task force set up this year to investigate misconduct in the bundling […]

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