Markets are joining the American mid-Atlantic and East Coast in bracing for Hurricane Florence and the estimated $27 billion in damages it could bring with it....more
Lack of workable replacement (so far, at least) be damned—the UK’s Financial Conduct Authority has announced that [the scandal-plagued] Libor will be phased out by 2021 in favor of “transaction-based benchmarks”....more
The Fed wrapped up its Open Market Committee meeting yesterday without any change in interest rates but with an expression of confidence in the economy, despite Q1’s sub-1 percent growth figure (which it dubbed “transitory”)....more
Bill Ackman, not known for giving up easily, is finally throwing in the towel on Valeant (even after taking a board seat at the company) and cutting his losses after a failed “two-year bet that lost about $4 billion for his...more
Turns out the Fed’s plate isn’t just full of decisions surrounding interest rates. It’s got a massive portfolio of mortgage and Treasury securities that needs some serious tending, too....more
The recent US rejection of the TPP will have wide-reaching effects in Asia. Among them is the strong likelihood of 80s-style trade warring between Japan and the US....more
Ratings Agency Moody’s Corp. has agreed to pay roughly $864 million to resolve federal and state claims that it gave juiced ratings to risky MBS in the run-up to the financial crisis. Half of the total will end up in DOJ...more
The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more
With 2016 rapidly drawing to a close, here are some thoughts regarding the types of litigation and legal/regulatory issues that will likely be top-of-mind for financial services companies, especially mortgage companies and...more
And we thought Brexit was something. Buckle up. It’s going to be a wild market ride... Whoa....more