Enticed by profits and bonuses, Wall Street took advantage of complicated mortgage-based instruments to reap billions, only to exacerbate the eventual crash.
Since emerging as one of the country’s largest banks, Wells Fargo has continued to let its numbers speak for themselves. That may not be such a good thing.
What was made can be unmade.
Many other banks created deals with similar characteristics to the transaction that resulted in JPMorgan's $154 million settlement with the government. But the SEC still faces big challenges in wresting more settlements from banks.
A year after our story on hedge fund Magnetar, JPMorgan Chase agrees to pay $154 million over SEC charges it misled investors about Magnetar’s role in a deal.
The Securities and Exchange Commission is investigating whether Bank of America's Merrill Lynch shortchanged investors on a $1.5-billion mortgage-backed security deal.
Some fear the grandest ambitions of the law passed last year to reform the nation's financial system are being undermined in the rule-making process.
Watch carefully, and you'll see how the three men who saved the world—Federal Reserve Chairman Ben Bernanke, NY Fed's Timothy Geithner, and Treasury Secretary Henry Paulson—get it wrong again and again and again.
Citing reports by ProPublica, lawmakers describe the hedge fund's role in the collateralized debt obligations business.
Securities regulators may soon file suit against a former JPMorgan Chase executive for misleading investors about the role of Magnetar, a hedge fund, in creating a risky mortgage security.
Later this month, the Federal Reserve is going to let banks know how they did on its most <a href="http://www.nytimes.com/2010/11/18/business/18bank.html?_r=2">recent round</a> of “stress tests.”
A Financial Crisis Inquiry Commission document shows Magnetar selected assets for a billion dollar Merrill Lynch mortgage securities deal, despite having long asserted otherwise.
Looking inward in the grand tradition of American self-improvement, the investment bank promises to be nicer and more transparent, but ignores the structural problems that helped ignite the financial crisis.
Two weeks ago, Standard & Poor’s put out a press release: The credit rating agency warned it was poised to <a href="http://www.bloomberg.com/news/2010-12-15/s-p-says-it-incorrectly-analyzed-re-remic-mortgage-bonds.html">downgrade</a> almost 1,200 complex mortgage securities.
The builders of mortgage securities at industry giant Merrill Lynch couldn’t find buyers for their wares. So they paid another group at Merrill to take billions of dollars of the unwanted assets.
The SEC is investigating whether in the run-up to the financial crisis Citi acted improperly as it created and marketed a $1 billion CDO.
The SEC is investigating whether JPMorgan adequately disclosed to investors that the hedge fund Magnetar influenced a deal it was also betting against.
A European-based investment fund and a French bank are battling it out in New York state court over complex securities created at the behest of the hedge fund Magnetar