Larry Langford News
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JPMorgan Chase & Co. may see as much as $1.6 billion go down an Alabama sewer.
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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, 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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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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JPMorgan Chase & Co. and Jefferson County, Alabama, were sued by insurer Syncora Guarantee Inc. in an attempt to recover more than $400 million tied to billions of dollars in sewer-bond debt.
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U.S. banks would have to change the way they compensate traders involved in market-making activities under one of the proposed restrictions of the so-called Volcker rule, according to a draft circulating among regulators.
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The U.S. Securities and Exchange Commission said it voluntarily dismissed claims against the former president of the Jefferson County Commission in Alabama, Larry Langford.
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Philadelphia was running low on cash in August 2009 as Pennsylvania lawmakers refused to pass a temporary sales-tax increase for the state’s biggest city.
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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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Jefferson County, Alabama, declared the largest municipal bankruptcy in U.S. history, capping a more than three-year saga that turned it into one of the biggest casualties of Wall Street’s credit crisis.
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