Bill Halldin News
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Wall Street banks collected $215.6 million that Denver’s public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.
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Bank of America Corp. can’t sue to recover $1.75 billion in investor losses stemming from a mortgage-fraud scheme at failed lender Taylor, Bean & Whitaker Mortgage Corp., the Federal Deposit Insurance Corp. told a judge.
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Bank of America Corp.’s Merrill Lynch unit was ordered by a Brazilian court to pay Alexandre Caiado 150,000 reais ($76,500) to compensate the former banker for five days he spent in jail over allegations tied to his work at the company.
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Just before dawn on a cool June morning, six submachine-gun-wielding federal agents charged into Alexandre Caiado’s Sao Paulo apartment. After arresting him, they hustled Caiado into a pickup truck for a 30-block drive to Merrill Lynch & Co. ’s office, where he had been working as a private banker for two years.
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Swedish regulators should consider raising risk weights on mortgage assets above the 15 percent proposed last year to help the industry pad itself against potential losses, Riksbank Governor Stefan Ingves said.
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Freddie Mac sued Bank of America Corp., UBS AG, JPMorgan Chase & Co. and a dozen other banks over alleged manipulation of the London interbank offered rate, saying the mortgage financier suffered substantial losses as a result of the companies’ conduct.
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In early 2007, with subprime-mortgage defaults soaring, Wing F. Chau teamed with Merrill Lynch & Co. to create a $300 million pool of assets that shared a name with the main character in The Matrix movies who discovers reality isn’t what it seems.
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Bank of America Corp. , the biggest U.S. lender, asked a federal judge to throw out a lawsuit brought by foreclosed homeowners who accuse it of racketeering.
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A former Bank of America Corp. executive was indicted for allegedly participating in what prosecutors said was a “far-reaching conspiracy” to defraud municipal bond investments through bid rigging.
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Carl Icahn’s hostile bid for Lions Gate Entertainment Corp. was set back by a New York judge’s decision to let a board member vote shares acquired in a deal that diluted the billionaire investor’s stake in the company.
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