A London court ordered the owners of Liverpool Football Club to reverse changes to the club’s board, a move that could allow England’s most successful soccer club to be sold to the group that controls the Boston Red Sox.
Tom Hicks and George Gillett,…
Attorneys general in dozens of states plan to launch a joint probe into charges that banks used bogus paperwork to evict borrowers from their homes.
The investigation will go after charges that lenders including GMAC, JPMorgan Chase (JPM) and Bank of America (BAC) forged documents and faked social security numbers in order to foreclose on homes, The New York Post said.
Bank of…
Continue reading Attorneys General May Launch Foreclosure Investigation
Attorneys General May Launch Foreclosure Investigation originally appeared on DailyFinance on Mon, 11 Oct 2010 07:35:00.
Filed Under: Company News, Economy, JP Morgan Chase, Bank of America, Real Estate, Taxes, Credit
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 …