Bankruptcy Blogs

The Time Has Come to Embrace Change at Your Bank

12/04/12

When industries and business environments evolve, the best and brightest people and organizations in that industry will as well.

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Fed Doesn't Live by the Rules It Sets for Banks

12/04/12

Anywhere in the world, if you had $55 billion in capital, and then lost $55 billion, your capital would be zero. But under the Fed's own special accounting rule, if it lost $55 billion, its capital would still be $55 billion.

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Debt Collection Goes Hollywood with Brad Pitt as Director

12/04/12

At long last, debt collection goes Hollywood! Brad Pitt's productio company Plan B and HBO are developing what looks like a new TV series called "Paper," a drama inspired by Jake Halpern's essay "Pay Up" featured in the New Yorker.

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Washington Mutual Trustees Want Goldman Sachs Probe

12/04/12

Trustees for creditors left unpaid after the biggest banking failure in U.S. history say they suspect Goldman Sachs Group Inc. of targeting Washington Mutual Inc. , in a naked short-selling scheme.

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SEC Suit Could Boot Chinese Companies from U.S. Stock Exchange, Consumers Trust Bankers over Politicians, Stockbrokers

12/04/12

Receiving Wide Coverage ...

SEC Sues Auditing Firms: The Securities and Exchange Commission is suing Chinese affiliates of the Big Four accounting firms Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers as well as BDO for failing to produce documents related to fraud investigations at nine China-based companies. Charges were filed against the auditors as part of a larger investigation into the Chinese companies themselves, following a string of "so-called reverse mergers" that led to billions of...

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Bankers Must Break the Ice with Regulators and Vice Versa

12/04/12

Banks often choose not to bring questions about products, terms and marketing to regulators, citing fear of retribution from front-line examiners. Creation of the CFPB separates consumer policymaking from examination activities, offering hope for open, clear communication.

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The Bank That Got Snookered and Lost 100 Cents on the Dollar

12/03/12

Here we find a bank president, who makes a loan commitment over a Martini - if I may be facetious - without even looking if there is an olive in the glass.

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No Foreclosure for the Holidays?

12/03/12

Fannie and Freddie are reportedly enacting a voluntary foreclosure moratorium for the holidays. Much obliged guv'nor! 

I've got a beef with this foreclosure moratorium. It captures everything that is wrong with how the GSEs and FHFA have handled foreclosures.

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