Tag: financial crisis

May 24, 2023

If you thought we were finally done with indemnification litigation focused on residential mortgages originated before the financial crisis of 2007-2008, think again. Over the past year, the Federal Deposit Insurance Corporation (FDIC) as receiver for Washington Mutual Bank has […]

December 29, 2021

Germany’s finance watchdog fined Deutsche Bank 8.66 million euros ($9.8 million) over its handling of submissions for Euribor, a reference rate at the heart of a scandal that rocked the industry. The lender temporarily didn’t have effective systems and controls […]

July 26, 2021

The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s chief Americas economist […]

February 12, 2021

Credit Suisse Group AG agreed to pay $600 million to settle a lawsuit over mortgage securities that collapsed in the 2008 financial crisis, an accord that locks in an expected hit to its profit. The plaintiff, MBIA Insurance, said late […]

December 29, 2020

Alternative lenders struggled through long accreditation processes and dried up reserves, before eventually taking on loans which carry the potential risk of high default rates. Neobanks could no longer rely on interchange fees as a main source of income, prompting […]

July 2, 2020

St. Louis Federal Reserve Bank President James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported. “Without more granular risk management on the part of […]

June 15, 2020

Manufacturing activity snapped back to life in the New York area this month as optimism for future activity hit its highest in almost 11 years. The Empire State Manufacturing Survey posted a reading of -0.2 in June after hitting record […]

March 17, 2020

The Federal Reserve on Tuesday took another step to try and prop up the American economy, saying it would begin buying up a type of short-term debt companies use for funding, known as commercial paper, to help keep credit flowing […]

March 16, 2020

Though the Federal Reserve moved over the weekend to slash rates and buy treasuries, markets around the world fell on Monday anyway. The coronavirus threatens to set off financial contagion in a world economy with very different vulnerabilities than on […]

March 3, 2020

For nearly the entire day yesterday, its 10 million users were unable to access their accounts and make trades. Meanwhile, the Dow Jones Industrial Average experienced a 1,294 point gain – its biggest point gain ever according to Business Insider. […]

March 2, 2020

Wharton School finance professor Jeremy Siegel said the U.S. could suffer a near-term recession because of the negative economic impact from the fast-spreading coronavirus. “We could really have a short, quick recession,” Siegel said on CNBC’s “Squawk Box.” “There’s a […]

November 8, 2019

Value stocks, those with stable fundamentals and subpar valuations, haven’t been this cheap since the financial crisis, according to Bank of America. Cheap equities enjoyed a resurgence in September from a decade of underperformance as investors bet on economically sensitive, […]

August 13, 2019

The performance gap between small caps and large caps is widening to historic lows, a trend seen during times of economic stress and investor caution, possibly signaling something worse with the economy could be coming. The small-cap benchmark Russell 2000 […]

June 18, 2019

The S&P 500 index stands less than 1% shy of a record but investors aren’t loving the climb, based on a recent fund manager survey from Bank of America Merrill Lynch. The survey of 179 global managers overseeing some half […]

April 24, 2019

Companies seem to be talking a little bit more about how price increases are helping profits, an early sign that more inflation could be seeping into the economy. “It’s not bad. [Prices] are sticking a little bit. Anecdotal evidence is […]

September 11, 2018

This week is the 10th anniversary of the inflection point of the financial crisis: the collapse of Lehman Brothers, the biggest bankruptcy in history. To some, it feels like a long time ago. Yet, its effects still echo in the […]

April 4, 2018

Three weeks ago today, the U.S. Senate passed a bank deregulation bill that either provides modest relief to one of the country’s most heavily regulated and scrutinized industries—or sows the seeds of our next great banking crisis. Sponsored by Sen. […]

March 14, 2018

The Federal Reserve and other U.S. bank regulators have spent the past decade trying to shore up financial-industry rules to protect taxpayers from having to bail out big Wall Street firms. Despite those efforts, a new study by researchers at […]

January 16, 2018

Citigroup Inc. (C) shares rose as the bank said its fourth quarter earnings exceeded analysts’ expectations, not counting a $18.3 billion loss it took to write down the value of tax credits saved up following its massive government bailout in […]

December 11, 2017

I recently gave an update on America’s economic policy, such as it is, to a group of bankers. I expected a great deal of interest in the Republican tax plan, but instead, they wanted to talk about how costly it […]