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The Justice Department announced criminal charges Wednesday against three former brokers at London-based brokerage firm ICAP PLC, accusing them of scheming with a senior trader at UBS AG to manipulate the London interbank offered rate.
Before a packed audience, the U.S. Court of Appeals for the Second Circuit heard arguments Monday on whether the conservator for Freddie Mac and Fannie Mae waited too long to launch its megabillions litigation campaign against banks that marketed toxic residential mortgage-backed securities.
Dell losing out with PCs transforms Citrix into target
Michael Dell wants to use some of his company's $16 billion in cash for acquisitions to counter slumping demand for personal computers. That may put Citrix Systems Inc. and Informatica Corp. on his shopping list.One Firm's Quick Start to Profits
McKee Nelson was founded less than four years ago by a pair of King & Spalding partners who wanted to pave their own way. Today, the capital markets firm has hit the 90-lawyer mark and is still luring top-flight lateral partners.In its biggest suit yet, the National Credit Union Administration claims Bear Stearns sold $3.6 billion in shoddy mortgage-backed securities to four failed credit unions. But just like the cases that the Federal Housing Finance Agency brought against a slew of banks, the NCUA suits are in limbo as federal appeals courts weigh whether the agencies waited too long to sue.
Goldman demands risks but won't take any
Goldman Sachs Group Inc. and JPMorgan Chase Co., two of the biggest traders of over-the-counter derivatives, are exploiting their growing clout in that market to secure cheap funding in addition to billions in revenue from the business. Both New York-based banks are demanding unequal arrangements with hedge-fund firms, forcing them to post more cash collateral to offset risks on trades while putting up less on their own wagers.Trending Stories
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