Wall Street Finds Profits by Reducing Mortgages
New York Times - 11 minutes agoAs millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess, The New York Times’s Louise Story writes.
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As millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess, The New York Times’s Louise Story writes.
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WASHINGTON — The federal government has decided to abandon a Bush administration plan that would have permitted mutual fund companies and brokerage firms to offer investment advice to 401(k) customers.
Few in the Square Mile have escaped the financial crisis, but the blow to independent stockbrokers has been particularly painful.
As millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess. Investment funds are buying billions of dollars’ worth of home loans, discounted from the loans’ original value.
European institutional investors have turned their backs on quantitative strategies since the financial crisis, and most of the largest investors in the region favour a more qualitative approach, according to research published today.
It’s undeniable that Wall Street has a public relations problem, as Goldman Sachs and others have learned all too well since the financial crisis. The New York Times’s Graham Bowley collects some pointers from experts in the spin game.
SUNY Oswego economics professors will gather for a panel discussion on campus, Wednesday, to discuss the United States’ current financial crisis.
Stocks hit a bit of a snag over the past few days, and the holiday-shortened week to come won't likely help them bounce back.
What would J.P. Morgan have said about regret expressed by Goldman Sachs CEO Lloyd Blankfein? History tells us the apology was a savvy investment
Nov. 23 (Bloomberg) -- Let’s stipulate: Lloyd Blankfein and Jamie Dimon are enlightened, broad-gauge chief executive officers, among the finest in the world.
WASHINGTON - Suddenly the Federal Reserve is everybody's punching bag. Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operati...
&$ &$Li Changchun (2nd R Front), a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, visits the exhibition hall of the 11th China International Hi-Tech Fair in Shenzhen, south China's Guangdong Province, Nov. 20, 2009. Li Changchun made an inspection tour in Guangdong Province on Nov. 18-22. (Xinhua/Pang Xinglei)&$ &$ A senior ...
WASHINGTON - Suddenly the Federal Reserve is everybody's punching bag. Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operations, others say.
“The struggle of man against power is the struggle of memory against forgetting.” So wrote Milan Kundera in “The Book of Laughter and Forgetting.”
NEW YORK: US stocks fell last week, halting a two-week advance, as a worsening outlook for technology company earnings added to concern that the eight-month rally in equities outpaced the prospects for economic growth.
According to estimates, Goldman Sachs will set aside $21.9 billion for bonuses this year. In an interview with London’s Sunday Times, Goldman CEO Lloyd Blankfein said that the firm is “doing God’s work.” The liberal media excoriated Blankfein for this remark. Such critics have never studied scripture. This is hardly surprising since the liberal media are owned and operated by atheists. A cursory ...