In June of 2016, in response to one of the worst financial crises in Puerto Rican history, President Barack Obama tapped seven people for an oversight board tasked with consolidating debt and pension liabilities that had ballooned to $120 billion.
Read moreCalifornia voters will soon decide whether to provide outdated schools and universities with a $15 billion facelift under legislation signed Monday by Governor Gavin Newsom.
Read moreThe Louisiana attorney general claims in federal court that Bank of America, Barclays Bank, CitiGroup, Deutsche Bank, et al. conspired “to fix the prices of unsecured debt issued by government sponsored entities,” including Fannie Mae, Freddie Mac, and Federal Home Loan Banks.
Read moreA federal judge denied large banks’ request to dismiss the GSE Bonds antitrust class action alleging the banks conspired to fix secondary market prices of bonds issued by government-sponsored entities.
Read moreThe SEC claims in federal court that Michael C. Hild, 43, of Richmond, Va., pocketed “more than $24 million in compensation which was funded wholly or substantially by the ill-gotten gains” that his co-defendant company Live Well Financial “obtained through its mismarking scheme” involving bonds and reverse mortgages.
Read moreLess than a decade ago, California served as an economist’s cautionary tale about out-of-control spending, unfunded liabilities and unbalanced budgets.
Read moreStock markets on both sides of the Atlantic saw hefty losses Wednesday, gripped by fears for the global economy only a day after enthusiasm over possible detente in an ongoing US-China trade war had given them a dizzying lift.
Read moreMalaysia filed criminal charges Friday against 17 current and former executives of three Goldman Sachs subsidiaries, piling further pressure on the Wall Street titan over the multibillion-dollar 1MDB scandal.
Read moreOver a year after the Supreme Court struck down a federal law that barred sports gambling in most states, a New Jersey horse racing group told the Third Circuit on Tuesday that it is entitled to damages to the tune of $150 million.
Read moreTossing a suit over investment losses tied to the restructuring of Greek public debt, the European General Court ruled Thursday that the stability of the Euro-zone banking system is a legitimate public interest.
Read moreU.S. regulators charged Volkswagen and former CEO Martin Winterkorn with defrauding investors during its massive diesel emissions scandal.
Read moreGreece has launched a five-year bond auction, the first time the country has tapped international capital markets for financing since it emerged from its bailout programs in August.
Read moreA bond-purchasing program that the European Central Bank adopted in 2015 to reduce inflation rates survived a constitutional challenge Monday before the EU’s highest court.
Read moreBecause Greece was wielding its public authority when it devalued bonds during its financial crisis, the European Court of Justice ruled Thursday that a foreign bond holder cannot rely on the EU’s commercial or civil rules to bring a suit in Austria.
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A year ago this week, Houstonians anxiously watched as their city — a sprawling mosaic of urban high-rises and residential neighborhoods and home to nearly 5 million people — became a murky sea of rainwater and debris after Hurricane Harvey dumped 33 trillion gallons of water in a week.
Read moreAn Austrian investor in Greek bonds who is suing Greece over a forced exchange of bonds he purchased into bonds of lower value cannot invoke EU rules for seeking redress in his home country’s courts, a magistrate said on Wednesday.
Read moreAs America’s coal industry faces a difficult market, a new report from the Government Accountability Office says Congress needs to revise how coal companies are required to pay for reclamation of land.
Read moreA coalition of Kentucky coal companies sued U.S. Interior Secretary Ryan Zinke over the disapproval of state regulations related to protecting water quality at mining sites, claiming it will unfairly increase the amount of money collected to fund the cleanup of abandoned mines.
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