Hopes are high for sunnier U.S. economy once winter wanes

Mar 2, 2014

Hopes are high for sunnier U.S. economy once winter wanes

When the weather warms up, so, too, will the U.S. economy. That, at least, is the prevailing view of economists, who shrugged off a government report Friday that the economy was weaker last quarter than first thought. Severe winter weather is probably slowing growth ...

Fed tipped to keep stimulus trim despite market turbulence

Jan 28, 2014

Fed tipped to keep stimulus trim despite market turbulence

Just as Ben Bernanke prepares to turn the chairmanship of the Federal Reserve over to Janet Yellen, global markets are on edge over the prospect that she’ll extend a policy he began: a steady pullback in the Fed’s extraordinary economic stimulus. Managing a slowdown ...

JPMorgan, U.S. reach $13 billion deal on mortgage bonds

Nov 20, 2013

JPMorgan, U.S. reach $13 billion deal on mortgage bonds

JPMorgan Chase & Co. has agreed to pay $13 billion in a landmark settlement after it acknowledged that it misled investors about the quality of risky mortgage-backed securities ahead of the 2008 financial crisis. The settlement announcement Tuesday with the Department of Justice is ...

JPMorgan, investors reach $4.5 billion settlement over bad mortgages

Nov 16, 2013

JPMorgan, investors reach $4.5 billion settlement over bad mortgages

JPMorgan Chase & Co. has reached a $4.5 billion settlement with investors who said the bank deceived them about bad mortgage investments. The settlement, announced Friday, covers 21 major institutional investors, including competitor Goldman Sachs, BlackRock Financial Management, and Metropolitan Life Insurance Co. The ...

World economy still being propped up by extraordinary aid

Nov 12, 2013

World economy still being propped up by extraordinary aid

Five years after the global financial crisis erupted, the world’s biggest economies still need to be propped up. They’re growing and hiring a little faster and creating more jobs, but only with extraordinary aid from central banks or government spending. And economists say major ...

Snag jeopardizes JPMorgan deal with U.S. Justice Department

Oct 30, 2013

Snag jeopardizes JPMorgan deal with U.S. Justice Department

Settlement talks between the U.S. Justice Department and JPMorgan Chase are in danger of breaking down over the bank’s demands that it avoid future criminal charges and that another government agency pay some of the $13 billion price tag, according to a person familiar ...

Oct 24, 2013

Federal jury finds Bank of America liable for mortgage fraud

A federal jury in Manhattan on Wednesday found Bank of America liable for fraud because of thousands of defective mortgages sold by its Countrywide Financial unit, handing the government a victory in one of the few major trials rooted in the financial crisis. Government ...

Ex-Goldman exec Tourre liable for duping investors

Aug 2, 2013

Ex-Goldman exec Tourre liable for duping investors

A federal jury found former Goldman Sachs executive Fabrice Tourre liable on Thursday for duping investors about a shoddy mortgage deal on the eve of the housing market’s crash, the first major court victory for the Securities and Exchange Commission in its quest to ...