How crappy U.S. mortgages hurt Ireland and Germany

JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks. The plaintiff Sealink Funding Ltd said it lost money after buying nearly $2.4 billion of residential mortgage-backed securities (RMBS) from JPMorgan …

Bernie Madoff with pants down, Bankers too

When it comes to the Madoff bankruptcy case, the venue matters. Bernie was scamming everyone until the financial crisis exposed him, and the next thing we knew he was telling his sons about his ponzi scheme. Lawsuits filed by Irving H. Picard, the trustee in the case, expose the banks and financial wanna-be’s that never …

J.P. Morgan Securities LLC settles with SEC

As the mortgage crisis and subprime debacle came and went, scars were left on the financial landscape across the Unted States and elsewhere around the world. Did those who caused the problem escape with minimal damage? Banks are finding out how to settle allegations against them while using damage control to offset publicity. Balance sheets …

UniCredit, HSBC Seek to Dismiss Madoff Investor Suit

UniCredit Bank Austria AG and other defendants asked a judge to dismiss a lawsuit by foreign investors in funds that put money with con man Bernard Madoff, saying they were being cast as “scapegoats for Madoff’s intentional criminal acts.” The investors in January and February sued Herald, Primeo and Thema funds, directors, service providers and …