Penn. law firm accused of using non-lawyers to review, sign foreclosures
A Pennsylvania-based law firm has been sued for using non-lawyers to review, sign and file foreclosures that caused people to lose their homes.
Don’t blame bubbles on the Fed: Dudley
New York Fed President William Dudley said loose monetary policy from the Federal Reserve was not the chief cause of the subprime mortgage crisis.
Paulson reduces exposure to financial holdings
Paulson & Co., the hedge fund managed by John Paulson, reduced its positions in key financial holdings Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC) and Citigroup Inc. (NYSE: C) in the third quarter
'Robo-signers' effect: U.S. foreclosures dip in Oct
Home foreclosures in the U.S. in October fell by 9 percent primarily because some major banks temporarily froze foreclosure proceedings and delayed sales of foreclosed properties nationwide after being criticized for shoddy paperwork, according to real estate data company RealtyTrac.
The allure of outsourcing too powerful for U.S. companies to resist
One of the predominant economic issues of our day has to do with the “offshoring” or “outsourcing” of American jobs overseas, particularly to developing economies like India and China where costs of labor are significantly less, thereby undermining efforts to reduce the stubbornly high U.S. jobless rate (currently at 9.6 percent)
Basel III likely to have limited short-term impact on U.S. banks
For big U.S. banks, Basel III will likely have limited impact in the short-term because of its generous phase-in timeline