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Goldman Sachs Group Inc has agreed to a settlement worth $1.2 billion to resolve a U.S. regulator's claims the bank sold Fannie Mae and Freddie Mac faulty mortgage bonds, the regulator announced Friday.
Kovacevich is the former Wells Fargo chairman and CEO. I've known him for years.
While the US government touted its "record" settlement reached this week with Bank of America for mortgage fraud that helped fuel the 2008 recession, the details of the agreement indicate yet another light punishment for an offending Wall Street titan.
"We rate BANK OF AMERICA CORP a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover.
The company is now free to focus its efforts on banking and making money for shareholders rather than constant litigation.
Bank of America Corp. will pay $245 million to settle U.S. Securities and Exchange Commission allegations that it failed to disclose rising mortgage losses and the risks of bonds tied to home loans.
A clutch of states including California, New York and Illinois will share in a mini-bonanza from the $16.65 billion settlement agreed by Bank of America Corp on Thursday.
Bloomberg's Adam Johnson examines Bank of America's sixteen-point-seven-billion dollar settlement in mortgage probes.
Community Builder or Divider? Homeownership's Pluses and Minuses The benefits of homeownership are often cited in policy debates, though it has some downsides.
Bank of America just announced it will pay the largest settlement in U.S. history for its role in selling toxic mortgage securities.
Police records show that 163 arrests have been made in the Ferguson protest zone since the shooting death of 18-year-old Michael Brown, but just seven are residents of the St. Louis suburb.
Bank of America has agreed to pay $16.65 billion to settle more than a dozen cases and investigations into its sales of risky, mortgage-backed securities to investors before the national financial crisis.
I started covering markets at Forbes in the summer of 2007. Right around then a pair of Bear Stearns hedge funds imploded in the first tremors of the financial crisis, but I swear the recession isn't my fault.
Well, this is just more of the same. Shareholders and customers pay the tab for greed and incompetence--and the Administration goes along.
Economy After a year-long blockade, Libya has restarted oil exports from its largest port, resolving some mistrust between rebel leaders and the government.
Updated: Sat Aug 23, 2014 04:06 am
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