Charles Lecroy News
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Jefferson County, Alabama, sought court protection as the biggest municipal bankruptcy in U.S. history to escape the burdens of more than $3 billion in debt.
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JPMorgan Chase & Co.’s Charles LeCroy said the key to landing bond deals in Jefferson County, Alabama, was finding out whom to pay off. In one example, that meant a $2.6 million payment to Bill Blount, a local banker and longtime friend of County Commissioner Larry Langford.
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Jefferson County, Alabama’s elected leaders voting to settle with creditors averted what would have been the biggest municipal bankruptcy in U.S. history.
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The Senate confirmed Elena Kagan to the U.S. Supreme Court, giving President Barack Obama his second appointment to the high court in two years while leaving its ideological balance unchanged.
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A federal judge denied a motion by two former JPMorgan Chase & Co. bankers to dismiss a Securities and Exchange Commission suit alleging a pay-to-play scheme in Jefferson County, Alabama , that allowed the bank to win almost $5 billion in bond and interest-rate swap business.
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A BP Plc investor has sued the company’s board of directors on claims its pursuit of profits at the expense of safety led to the Gulf of Mexico oil spill that could cost the company billions of dollars.
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An appeals court refused to reconsider a decision compelling the Federal Reserve Board to release documents identifying banks that might have failed without the U.S. government bailout.
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JPMorgan Chase & Co. lost a bid to dismiss a lawsuit filed by Jefferson County , Alabama, that claims the bank enticed it into a risky refinancing of about $3 billion of sewer debt by making $8 million in payments to friends of county officials.
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