Former Jefferies & Co. Managing Director Jesse Litvak was convicted in the only criminal case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities.
A council of regulators charged with preventing an economic crisis should devise “clear, objective criteria” to decide which companies could pose a risk to the financial system, a government bailout watchdog said.
President Barack Obama and Mitt Romney’s debate exchange over auto bailouts reignited a long- running dispute over whether the government’s financial-crisis rescue plan was a good deal for taxpayers. The answer: It depends.
A former Jefferies & Co. managing director charged with defrauding customers out of $2 million using tactics one U.S. official said were worthy of a used-car salesman, is the subject of a novel trial tied to the $700 billion Wall Street bailout.
Close relationships between large financial institutions remain a threat to economic stability nearly five years after the 2008 financial crisis, according to the watchdog for the U.S. government’s bailout program.
Customers of former Jefferies & Co. managing director Jesse Litvak told a jury during his fraud trial that they still got good deals on the bonds they bought through him even with his alleged misrepresentations.