Mark Rubin of Barclays Plc won the RBC Decathlon for a third straight year, successfully defending his title as Wall Street’s best all-around athlete by winning the final event in the competition by less than a second.
Bank of America Corp. is paying $950 million to settle claims that its Countrywide unit pooled faulty mortgages into securities that helped hobble Financial Guaranty Insurance Co. and saddled buyers with losses.
Barclays Plc bought about $100 million in claims on bankrupt Lehman Brothers Holdings Inc. from Fir Tree Value Master Fund LP and a related entity, according to court filings. The purchase price wasn’t disclosed.
Anglo Irish Bank Corp. defended a sale of its U.S. loan portfolio that was ordered by the Irish government and its acquisition of Irish Nationwide Building Society, calling them “non-commercial, sovereign acts.”
When Iceland’s banks failed in 2008 under $85 billion of debt, dozens of hedge funds flocked to the island betting they could make money buying up creditor claims. Five years later, they’re still waiting.
U.S. Supreme Court justices debated an effort to make investment banks, including units of Goldman Sachs Group Inc. and Morgan Stanley, pay back money they earned by allegedly manipulating dozens of initial public offerings.