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April 12, 2010 |

$1 trillion time bomb posts a phony profit

The Federal Home Loan Banks are a frequently overlooked band of government-chartered cooperatives whose name screams systemic risk with every word. Federal means Uncle Sam. Homes are a declining asset. A loan is money out the door. And banks are the things that get taxpayer bailouts when they're too big to fail and enough of their loans go bad.
4 minute read
August 23, 1999 |

Clinton's Legal Eagles Eyeing Exits and Offers

Some of the most sought-after lawyers in Washington, D.C., won't be bringing rosters of loyal clients with them to their new firms. Instead, with the Clinton administration entering the home stretch, the legal talent that has law firm managers and headhunters salivating is found in the government.
9 minute read
October 18, 2012 |

Bank of America posts lower profit on Merrill legal costs

Bank of America Corp. said third-quarter profit dropped 95 percent on litigation expenses and an accounting charge tied to the firm's debt. Net income fell to $340 million, or 0 cents a diluted share, from $6.2 billion, or 56 cents, a year earlier. The shares were little changed in early trading.
5 minute read
July 28, 2003 |

Movers

D'Elia Law Firm (Marlton, N.J.): Veteran attorneys Teresa M. Lentini and James D. Wallace are newcomers to the firm. Lentini focuses on commercial and residential real estate and Wallace handles real estate, finance and regulatory compliance.
4 minute read
February 28, 2013 |

Lawmakers push bill to speed up foreclosures

State lawmakers are pushing a bill to expedite foreclosures, but opponents say cases would move faster to the detriment of homeowners who would carry the burden of proof but lack time for discovery.
7 minute read
May 14, 2008 |

Bernanke: Financial markets improving

WASHINGTON AP - Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," Federal Reserve Chairman Ben Bernanke said Tuesday.The central bank has taken a number of unconventional steps - especially since March, when the credit crisis intensified - to help squeezed banks and big investment firms overcome problems and try to get credit flowing more freely again.
4 minute read
April 05, 2007 |

Lenders scramble to help struggling homeowners

AS HOME FORECLOSURES MOUNT, mortgage companies are knocking on doors, sending letters and making phone calls with a simple message for struggling homeowners: They'd rather modify your loan than foreclose.EMC Mortgage Corp., a specialist with a $78 billion portfolio of subprime loans-for homeowners with weak credit-this week launched a 50-person team it calls ''the Mod Squad.
6 minute read
October 06, 2008 |

Firms face tough collections

As law firms enter the fourth-quarter home stretch for 2008, the harsh reality is that any hours law firms billed this year are only as good as the client's ability to pay for them. With clients expected to hold on to as much cash as possible amid a credit squeeze, law firms may be walking a tightrope during this year's collection push to get the dollars rightly owed to them while at the same time remaining flexible with clients in trouble. "It's a balance that always exists, but in this market it becomes heightened," said Paul Irving, co-chairman of Manatt, Phelps & Phillips.
6 minute read
July 31, 2009 |

Goldman Sachs hatred might cost you

Put away your pitchforks. The business of bashing banker bonuses has swerved into dangerous territory. It's one thing to curse Goldman Sachs Group Inc. for setting aside $11.4 billion, or 49 percent of its revenue, for employee compensation during the first half of this year. Taking a huge Wall Street investment bank's name in vain, for better or worse, has become socially acceptable behavior.
4 minute read
May 08, 2012 |

Firms subject to debt collection law, court says

An appeals court rules in a foreclosure case that law firms are subject to claims under federal Fair Debt Collection Practices Act.
6 minute read

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