Tag Archives: securities and exchange commission

JP Morgan Chase Agrees To Settle Mortgage Case

These settlements are common on Wall Street. The bank pays over millions of dollars but admits no wrongdoing. Nobody goes to jail. The SEC gets to crow that it was right and that it is protecting investors. CNN reports: JPMorgan … Continue reading

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What Is A Collateral Manager?

Have you heard about collateralized debt obligations? Those are bundles of debt. Sometimes they are bundles of mortgages and other times they are bundles of student loans or credit card loans or auto loans. CDOs became huge during the heady … Continue reading

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Bank Stocks Remain Near Record Lows

The main reason for the low prices for bank stocks is the mortgage market. Banks retain trillions of dollars of shaky real estate holdings and mortgage-backed securities. The big banks appear solvent, but if the housing crisis gets worse, will … Continue reading

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Bureaucrats Require More Rules From Ratings Agencies

This is the left-wing mindset — ever increasing control. They don’t like the free market yet they can’t meet the demand for government freebies. So they substitute bureaucratic waiting lists and paperwork and complications. They want to regulate life into … Continue reading

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Big Banks Preparing To Pay Out Billions For Their Abusive Mortgage Practices

Three big banks have warned investors they may have to pay out billions of dollars to settle inquiries by state and federal investigators into their foreclosure operations. Until now, the big banks acted as if these investigations were just a … Continue reading

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The Foreclosure Game Ain’t As Easy As It Once Was For Banks

The Securities and Exchange Commission (SEC) sent out a bunch of subpoenas today to the big banks (Bank of America, JPMorgan Chase, Citigroup and Wells Fargo). Regulators are not sure that big banks played by the rules when they turned … Continue reading

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New Regulations To Promote More Accurate Lending Risk

Credit rating agencies were spectacularly wrong in the past few years when they tried to assess the worth of mortgage-backed securities. When thousands of home owners can no longer afford to send in their monthly mortgage payments, all the fancy … Continue reading

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Subprime Brokers Charged

TEL AVIV (MarketWatch) – The Securities and Exchange Commission charged that five Los Angeles-area brokers “put their customers at risk by refinancing their homes with subprime mortgages that they could not afford.” The agency, in a statement on Friday, said … Continue reading

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Restoring Confidence To Financial Markets

Graham Bowley writes: Realizing that its case-by-case approach was not enough, the federal government started to put in place on Friday a sweeping plan to restore confidence in the financial markets. The actions began to get under way on Thursday … Continue reading

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‘We Should Not Be Rating It’

From the WSJ: Problems keeping up with the surging growth of mortgage-related debt products were particularly acute at Standard & Poor’s Ratings Services, according to a draft version of a Securities and Exchange Commission report on bond-rating firms. The agency’s … Continue reading

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