Switzerland’s UBS (UBS) will not take legal action against former employees for racking up the massive losses on subprime mortgages that left the company needing a bailout.
Kaspar Villiger, the UBS chairman, said that company was looking to the futur…
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
General Motors will once again have its own in-house financing unit starting Friday, when the auto giant closes on its $3.5 billion purchase of AmeriCredit. The new unit, to be renamed General Motors Financial, will allow GM to…
Angelo Mozilo, former CEO of Countrywide Financial, must face trial on charges he misled investors about the risks associated with subprime lending, a judge in Los Angeles ruled.
U.S. District Judge John F. Walter denied reques…