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Investors’ rekindled passion for sales of private mortgage securities is cooling.
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A group of U.S. House Democrats is strategizing to strip the most contentious derivatives language from legislation to overhaul the financial-regulatory system.
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The glut of U.S. shale oil caused by too few pipelines has spread to West Texas, cutting prices and draining $1.2 billion in potential profit from producers including Concho Resources Inc. and Occidental Petroleum Corp.
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Redwood Trust Inc., the dominant issuer of home-loan securities without government backing since the financial crisis, plans to jump into the market backed by taxpayer-supported Fannie Mae and Freddie Mac.
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Redwood Trust Inc. sold bonds tied to $398 million of U.S. home loans without government backing and is working on a second deal this month as the real-estate investment trust leads a revival in sales of the securities.
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Five years after his bank’s investment in a collateralized debt obligation rated mostly AAA by Standard & Poor’s got wiped out, Peter Groninger says of the Justice Department’s $5 billion lawsuit against the world’s largest credit ratings company: “It’s about goddamn time.”
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Annaly Capital Management Inc. Chief Executive Officer Mike Farrell was paid $35 million last year, more than the CEOs of the six largest U.S. banks, from JPMorgan Chase & Co.’s Jamie Dimon to Goldman Sachs Group Inc.’s Lloyd Blankfein, and more than double their average compensation.
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A delay of Bank of America Corp.’s return to selling mortgage securities shows the housing bust is still limiting the market’s revival.
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What’s old is new again on Wall Street as banks tap into soaring demand for commercial real estate debt by selling collateralized debt obligations, securities not seen since the last boom.
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“Mikey Suits,” the FBI agent- turned-New York City congressman, is working hard to defend the industry he once made his name busting.
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