More on the Lawsuit Against BofA Over Countrywide’s “Hustle” Program

By: Thursday October 25, 2012 8:30 am

I’ve taken a closer look at the US Attorney from the Southern District of New York’s $1 billion lawsuit against Bank of America – particularly their subsidiary Countrywide – for “the hustle,” the program of selling mortgages with practically no underwriting and passing them on to Fannie Mae and Freddie Mac. And there’s something interesting [...]

Highest-Ranking Executive Convicted in Insider Trading Probe

By: Friday June 15, 2012 12:45 pm

Rajat Gupta, the former head of the consulting firm McKinsey and a former member of Goldman Sachs, was convicted today on insider trading charges. This is the latest of several insider trading suits that the government, particularly US Attorney in the Southern District of New York Preet Bharara, has focused on. While no executive has [...]

Criminal Indictments in Credit Suisse Case Investigated Four Years Ago… By the Bank

By: Wednesday February 1, 2012 6:29 am

We open the day by hearing about criminal indictments for bond traders. Federal prosecutors are preparing to file criminal charges against former Wall Street traders alleging they misstated the value of mortgage bonds, an issue central to the 2008 financial crisis, according to people familiar with the matter. The Manhattan U.S. Attorney’s office is planning [...]

The Mystery of Tom Miller’s Shifting Comments on Criminal Sanctions for Foreclosure Fraud

By: Thursday January 6, 2011 12:08 pm

In December, when Iowa Attorney General Tom Miller said unequivocally to a group of foreclosure activists, “We will put people in jail,” the working assumption was that he was referring to the 50 state AG investigation of foreclosure fraud in the mortgage servicing industry. However, as it turned out, he walked that back almost immediately. [...]

Another Arrest in Insider Trading Case

By: Wednesday December 29, 2010 11:56 am

I believe this is the sixth arrest in the “expert network” insider trading scandal which the Justice Department and the US Attorney in Southern New York have been investigating over the past few months. A California woman has been arrested on charges of leaking secrets about technology companies to hedge funds, as federal prosecutors expand [...]

NJ-Gov: Corzine Takes Slight Lead

By: Thursday October 22, 2009 7:29 am

The latest poll from New Jersey has both major-party candidates under 40% with independent Chris Daggett rising to 20% for the first time. But the poll also shows Gov. Jon Corzine with a three-point lead, 39-36, over Chris Christie. Christie has been dogged this week by that New York Times report showing the US Attorney [...]

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