Hong Kong took a new step this week to let some air out of its real estate bubble, levying a heavy tax on property flippers — a move that has already sent asking prices there downward. But Hong Kong’s real estate risks are dwa…
In a case with wider implications for the financial industry, jurors in a class-action securities fraud suit found that BankAtlantic Bankcorp was liable to shareholders for about $42 million for making false statements about th…
This week, the Congressional Oversight Panel recommended that the nation’s big banks be stress tested again, because if problems with mortgage-backed securities are widespread, the consequences could be dire. Now, the Fed has a…
Citigroup Inc (C) said it may have to refile thousands of foreclosure affidavits.
The bank is reviewing 10,000 affidavits executed before the company overhauled its foreclosure operation in February, Harold Lewis, a managing director with CitiMortgag…
The Congressional Oversight Panel created in the wake of TARP to oversee and monitor the Treasury Department has issued a devastatingly clear report about the mortgage mess and its legal implications, which are ugly.
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