Detroit Free Press (Free subscription) | 08/11/2009
Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, high-flying firms -- companies such as New Century Financial Corp.
adn.com: Business (Free subscription) | 04/11/2009
IRVINE, Calif. -- Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, high-flying firms -- companies such as New Century Financial Corp.
Ten Reasons (Free subscription) | 03/11/2009
Apropos of nothing particularly Catholic, excerpt perhaps that the crisis-created Obama presidency has made mincemeat of core principles of Church social teaching, e.g., subsidiarity, the primacy of the right to life, herein lies James Freeman's review of The Sellout by CNBC analyst Charles Gasparino in this morning's Wall Street Journal : So what made 2008 so much worse? For one thing, the market...
kansascity.com (Free subscription) | 30/10/2009
Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, highflying firms - companies such as New Century Financial Corp.
Unbossed (Free subscription) | 29/07/2009
Two years ago Friday the financial crisis started. Most financial media pundits and politicians didn't recognize that we had a problem until Lehman Brothers went under on September 15, 2008. The official start of the recession is marked at December 2007. But the real start of the financial crisis was July 31, 2007, when Bear Stearns filed for Chapter 15 bankruptcy protection on its two major hedge...
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what did the auditors change or learned? Why are there no new laws for controlling and - in case - punish the responsibel audit firm?
SeekingAlpha.com (Free subscription) | 05/07/2009
Edward Harrison submits: Let’s say you’re an American named Maria living in Southern California. The year is 2006. You make $45,000 and your husband David makes another $40,000. You have two children aged six and four and your two-bedroom apartment is getting too small. So you decide to consider buying a house. Eventually, you and your husband find a new home. Now, granted you know nothing...
naked capitalism (Free subscription) | 02/07/2009
Submitted by Edward Harrison of Credit Writedowns . Yves said her piece about the new affordable FFA program to allow home ‘owners’ in negative equity to stay in their homes. And I had a crack at it yesterday as well. But, I have some thoughts to run by you here using a specific example of an American homeowner named Maria. Enjoy. Oh, and feel free to comment. Let’s say you’re...
New York Supreme Court Criminal Ter (Free subscription) | 02/07/2009
If you are already an online subscriber to the New Jersey Law Journal Case Alert Service you should be able to click on any of the links provided below, sign in, and access the full text of articles listed. Subscription required for online access: STATE DECISIONS: State v. Marquez CRIMINAL PRACTICE - Drunk Driving - Breathalyzer Refusals "There is no constitutional requirement to translate the...
Dollars & Sense blog (Free subscription) | 28/06/2009
First, a link to Doug Henwood's latest (June 25th) radio program, which features an excellent interview with Alyssa Katz on the history of mortgage lending in the U.S. from the '30s on. Second, this piece about a recent study which casts interesting light on the role of the Community Reinvestment Act on subprime lending (courtesy of Economist's View ): Most Subprime Lenders Weren't Covered by CRA The...
Calculated Risk (Free subscription) | 15/06/2009
From the WSJ: Maguire Sells Office Site at 40% Off (ht Ron) Maguire Properties Inc ... sold a newly developed office building in Irvine, Calif., for about $160 million, a price representing an estimated 40% discount to its construction cost. ... Emmes Group of Cos. ... purchased the 19-story building, which was completed in 2007 and is about 60% leased. ... The building ... was originally slated to...
CFO (Free subscription) | 02/04/2009
A trustee for New Century Financial claims KPMG partners ignored lower ranks' concerns about the lender's accounting for loan reserves.
The Telegraph (Free subscription) | 02/04/2009
Accountancy giant KPMG has been hit with a billiondollar lawsuit related to the collapse of subprime mortgage lender New Century Financial Corporation.
The Los Angeles Business (Free subscription) | 02/04/2009
The trustee overseeing the bankruptcy of New Century Financial Corp. filed lawsuits against KPMG LLP, the auditor for New Century, a report in The Wall Street Journal said.
The Tampa Bay Business Journal (Free subscription) | 02/04/2009
The trustee overseeing the bankruptcy of New Century Financial Corp. filed lawsuits against KPMG LLP, the auditor for New Century, a report in The Wall Street Journal said.
L. A. Times Dodgers Blog (Free subscription) | 02/04/2009
Trustee for the bankrupt subprime lender accuses the U.S. accounting firm and its parent of negligent audits and reviews. KPMG International, which oversees the fourth-largest U.S. accounting firm, was sued Wednesday by the trustee for bankrupt subprime lender New Century Financial Corp. over claims it failed in its role as gatekeeper.
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