Wall Street firms face billions in potential damages after New York State AG Eric Schneiderman brought civil charges against JPMorgan this week for mortgage-packaging standards at Bear Stearns, which JPMorgan acquired in 2008. The lawsuit, which has been criticized for offering little new information, is the first tort filed by a federal-state task force formed by President Barack Obama earlier this year. Mr. Schneiderman said yesterday that other suits would follow.
From engineering financial instruments to building the world’s biggest Ferris wheel, climb aboard with Matt Chaban for former Bear Stearns Asset Management CEO Richard Marin’s wild ride.
Former Wells Fargo Chairman Dick Kovacevich will not abide arguments that the U.S. government bailed out his bank, especially not in his country club’s men’s dining room.
Large firms such as BlackRock are best positioned to take advantage of JOBS Act provisions that would lift the ban on advertising by private investment firms, Bloomberg reports. One reason: bigger money managers already have marketers on staff to work on products such as mutual funds.
Protestors will attempt to surround the New York Stock Exchange on the one-year anniversary of the Occupy Wall Street movement, according to Reuters. Looking to meet up with some like-minded people? Want to know which intersections to avoid? Go here, for the tactical map.
The Winklevoss twins are disrupting the sell Read More
Nearly a month after former Citigroup chief executive Sandy Weill called for the break-up of the biggest U.S. banks, current Citi CEO Vikram Pandit told the Financial Times that the bank is sized just right.
How to define ‘subprime?’ The answer may determine the fate of the government’s case against three Read More
British lawmakers published results of their investigation into Barclays efforts to manipulate Libor and other interbank lending rates. They were less than happy with cooperation provided by former CEO Bob Diamond.
Deutsche Bank is one of four European lenders being investigated by U.S. authorities for possible violations involving oil-trading and Iran, a source told Bloomberg.
Scott Thompson, you’ll remember, is the former Yahoo chief executive ousted last month afteractivist investor Dan Loeb uncovered inaccuracies on Mr. Thompson’s resume. Brian Dunn, meanwhile, was the CEO of Best Buy until April, when he left the company amid an investigation that eventually revealed Mr. Dunn had what the polite press called an “inappropriate relationship” with an employee.