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SEC sues ex-State Street execs in subprime scam
Securities regulators charged two former State Street execs with ripping off investors in a subprime fraud scam. The Securities and Exchange Commission said John Flannery and James Hopkins sold a State...
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Bank of America is still taking big risks
Taking on too much risk got the banks in trouble. So why are Bank of America and GMAC taking on more by resuming foreclosures? Earlier this week, Bank of America (BAC) and Ally Financial's GMAC...
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Subprime shorter Greg Lippman takes the stage
Greg Lippman, the former Deutsche Bank (DB) trader profiled by Michael Lewis in "The Big Short," participated this morning in the Bloomberg 2010 Hedge Fund conference, held at the Guggenheim Museum in...
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How the roof fell in on Countrywide
Editor's note: This week FORTUNE is publishing excerpts from its favorite business books of 2010. This excerpt from Bethany McLean and Joe Nocera's All the Devils are Here talks about how Countrywide's...
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A fond farewell to a bigtime banking hero
It's hard to believe, but there are bankers out there who give the business a good name. Arthur F.F. Snyder was one of them. Hating bankers is all the rage these days. Hey, what's not to hate when we...
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S&P's Bernanke moment?
Don't look now, but the rating agency just issued a report with this headline: Municipal Risk For Rated U.S. Banks Appears To Be Contained You might have thought no one in the financial markets would...
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SEC whacks Morgan Keegan manager
Regulators have finally located a fraud for which they can hold an actual person accountable. The Securities and Exchange Commission agreed Wednesday to settle a bubble-era subprime fraud suit against...
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DC's new motto: Why buy when you can rent?
Selling the massive glut of homes the U.S. government now owns hasn't exactly worked out. Now Washington is exploring the idea of renting them. FORTUNE -- Owning once trumped renting, but the collapse...
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Student loans: Welcome to subprime university
Unlike the U.S. mortgage market, an imploding student loan market will have few immediate consequences, and that could be its biggest risk. By Lauren Silva Laughlin FORTUNE -- Make no mistake: the...
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Bank loans drop, even as profits jump
It was another good quarter for banks, but they're not quite fixed. FORTUNE -- The credit crunch may be over, but we are crawling our way out. After rising for all of last year, bank lending dropped in...
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Bankers tied to JPMorgan's $13 billion settlement doing just fine
Where are the bankers involved with JPMorgan's dubious mortgage deals? At JPMorgan, Goldman Sachs, and other Wall Street firms.
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Google takes down BBC blog on Merrill disasters after privacy request
Those waitingto exposethe weaknesses of the European Union’s decision to force GoogleInc. GOOG to remove embarrassing links about people haven’t had to wait long for their opportunity. The U.K. is up...
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Alibaba in hot water and Netanyahu before Congress — 5 things to know today
Hello friends and Fortune readers. U.S. stock futures are slightly down this morning after a stellar showing Monday. Both the S&P 500 index and Dow Jones industrial average set records, while the...
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More Americans Are Digging Themselves Out of Bad Credit Scores
The share of U.S. consumers with subprime credit scores reached its lowest level in nearly a decade, signaling good news for the nation’s economy since the new wave of credit-worthy Americans could...
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