Author Archives: admin

$51 million foreclosure of New York penthouse could be most expensive ever

CNBC- A plush penthouse in one of New York’s most expensive buildings is headed to foreclosure, signaling new troubles for the high-end real-estate market. The 6,200-square-foot, full-floor unit at One57 is scheduled to go to foreclosure auction next month, according to Bloomberg. The apartment, known as Apartment 79, sold in 2014 for just under $51 […]

House Dems Go At Deutsche Bank Again For Info On Trump Loans And Russia

HuffPO- House Democrats are stepping up pressure on Deutsche Bank to access information on President Donald Trump’s multimillion-dollar loans from the institution. In a letter sent to the bank’s lawyers this week, leading House Financial Services Committee Democrats including California Rep. Maxine Waters rejected the institution’s claims that it could not legally release details of the loans for privacy reasons. […]

Policymakers forget duty to protect taxpayers from financial failures

The Hill- Amid the wreckage of the 2008 financial crisis and the ensuing “Great Recession,” there was one conclusion that everybody could seemingly agree upon: Taxpayers should never again be forced to cover the failed bets of the nation’s biggest banks. Nine years later, the steady campaign of lobbying and influence-peddling by those same “too-big-to-fail” […]

Former JPMorgan trader Iksil links CEO Dimon to ‘London Whale’ losses

Reuters- Bruno Iksil, the former JPMorgan Chase & Co (JPM.N) trader at the center of the “London Whale” trading scandal, has accused the Wall Street bank’s Chief Executive James Dimon of laying the ground for the $6.2 billion loss. In an account on his website, Iksil, a French national who traded credit derivatives for JPMorgan […]

Barclays and Former Executives Charged Over Qatar Fund-Raising

NYT- Barclays, its former chief executive and three other former senior managers were criminally charged on Tuesday over agreements the bank struck with Qatar as it sought to avoid a government bailout during the 2008 global financial crisis. The accusations by the Serious Fraud Office are the first criminal charges to have been brought in […]

LI couple evades foreclosure as deadline passes

News Day- A Sound Beach couple fighting foreclosure for nearly 10 years “can finally close that chapter of their lives” now that their lender has missed court deadlines to continue the legal battle, the couple’s lawyer said Tuesday. Fred and Theresa Tovar’s mortgage lender — originally Beneficial Homeowner Service Corp., and later U.S. Bank Trust […]

CenturyLink Is Accused of Running a Wells Fargo-Like Scheme

Bloomberg- A former CenturyLink Inc. employee claims she was fired for blowing the whistle on the telecommunications company’s high-pressure sales culture that left customers paying millions of dollars for accounts they didn’t request, according to a lawsuit filed this week in Arizona state superior court. The company’s shares fell the most in six weeks on the news, while the shares […]