Archive for the ‘Lead’ tag
New York Sues UBS Over Auction Rate Securities
New York Attorney General Andrew Cuomo said he is
suing UBS AG for misleading investors into buying auction-rate securities
just five months before the market collapsed.
“Not only is UBS guilty of committing a flagrant breach of trust
between the bank and its customers, its top executives jumped ship as
soon as the securities market started to collapse, leaving…
Could FDIC also be a "Predatory lender?"
The Wall Street Journal reported Monday morning that the Federal
Deposit Insurance Corporation (FDIC,) rather than being
part of the solution to the subprime mortgage crisis, was actually
among those institutions that caused it.
Superior Bank was, in the early 2000s, a leading subprime lender and
that operation continued, under FDIC supervision, for months. During this
time, according to the Journal, Superior funded more than…
Higher U.S. CPI, FOMC Minutes Lead to Greater Chance of Rate Hike
Fed fund futures showed a slightly heightened risk of a rate
hike in 2008 by the Federal Reserve, following a higher-than-
expected CPI print for June on Wednesday.
Markets were subsequently forecasting a 44% chance that the Federal
Open Market Committee (FOMC) would hold rates at 2.00% at the Dec. 16
meeting. On Tuesday, markets had priced in a 49.8% chance that same
scenario would unfold. Conversely…