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Probes Center on BofA-Merrill Lynch Maneuvers During CrisisTwo high-level probes involving Bank of America Corp. have highlighted some of the financial sector's backroom maneuvers during last year's financial crisis, according to new reports this week. |
CIT Group Showed Early Signs of TroubleBusiness analysts said the U.S. bailout package given CIT Group was money thrown after a lost cause, despite the lender's role in the financial system. |
Mortgage Rates DropInterest rates for 30-year, fixed-rate U.S. mortgages fell to a five-week low in the week ending Nov. 12, the Federal Home Loan Mortgage Corp. said Thursday. |
Land Mines in the Economic RecoveryInvesting is never easy. But now, even as the global economy takes regular steps toward recovery, investors are wary of more land mines than usual. |
Microfinance Programs Harness Web to Connect Borrowers & LendersThe idea of providing relatively small loans, rather than donations, to help residents of developing nations start small businesses and work their way out of poverty has been kicking around for years. But experts say the Silicon Valley nonprofit Kiva has demonstrated how social networking and Web technology allows hundreds of thousands of people to turn traditional banking and finance on its head. |
Chicago-based Thrift With 75% Hispanic Membership Considers Becoming Minority InstitutionSecond Federal Savings & Loan Association, a Chicago-based thrift recently ordered by regulators to raise capital, is considering getting designated as a minority institution to widen its appeal to investors. |
Former Bear Stearns Fund Managers Found Not Guilty of FraudTwo former hedge fund managers at investment powerhouse Bear Stearns have been found not guilty of securities fraud in one of the first verdicts Tuesday on the devastating financial crisis that engulfed the world economy. |
Placement Firm Boss Earned Millions After CalPERS InvestmentAlfred Villalobos, the controversial businessman at the heart of a pension fund corruption probe, earned some $9.6 million in fees after CalPERS invested hundreds of millions of dollars with a real estate firm with deep ties to downtown Sacramento. |
Jobs Data Overshadows Brighter Economic NewsThe good news about the growth rate of 3.5 percent for the US economy, during the third quarter, were overshadowed by the unemployment rate approaching ominously almost 10 percent, the much feared double digit threshold. |
Second Bailout Unlikely for CITCIT Group Inc., the nation's largest lender to small businesses, filed for bankruptcy reorganization Sunday in the biggest financial failure this year and first major test of the administration's resolve not to bail out every struggling institution that asks for help. During the financial crisis last December, the Treasury provided CIT with $2.3 billion to stay afloat, but rejected the company's pleas for further aid this summer after determining its failure would not cause great harm to fragile credit and equity markets. |
Don't Bet on a Return to a 'Normal' IPO MarketThe venture-capital-backed IPO market is beginning to show signs of life. For venture capitalists, sophisticated angel investors, and the entrepreneurs that they back, this stirring is of great importance. |