Federal Reserve Bank of Chicago President Charles Evans proposed further monetary action on the part of the Federal Reserve, including purchasing more Treasury bonds to cut the cost of borrowing, while lowering his forecast for…
Goldman Sachs Group (GS) was sued by German bank Landesbank Baden-Wuerttemberg for allegedly mis-representing the credit quality of its mortgage-backed securities.
The German bank ended up posting a $37 million loss on the investment.
Goldman was the placement agent for a mortgage-backed security called Davis Square Funding VI, Bloomberg News said. Thirty-three percent of the…
Continue reading Goldman Sued by German Bank Over Mortgage-Backed Securities
Goldman Sued by German Bank Over Mortgage-Backed Securities originally appeared on DailyFinance on Tue, 05 Oct 2010 07:43:00.
Filed Under: Company News, People, Investing, Goldman Sachs , Credit
A French judge sentenced former trader Jerome Kerviel to three years in prison and ordered him to repay a 4.9 billion euro ($6.8 billion) in damages to Societe Generale SA (SCGLY) for his role in one of the largest trading scandal’s in history.
Judge…
The Justice Department filed an antitrust lawsuit against American Express Monday, alleging that the financial institution has been engaging in anticompetitive practices. Justice also said it reached a proposed settlement with …
Wells Fargo still won’t admit it, but its employees’ testimony makes it clear that, like GMAC, JPMorgan Chase, Bank of America and OneWest Bank, they have a problem with their foreclosure documents. But the solution isn’t just …