countrywide financial
Countrywide to Pay Top Mortgage-Meltdown Settlement So Far
Countrywide Financial, once the nation's largest mortgage lender, has agreed to pay $600 million to settle shareholder lawsuits. It's the largest mortgage settlement to come out of the meltdown so far.
Oracle's Larry Ellison Takes the CEO Cake
Larry Ellison of Oracle tops The Wall Street Journal's new list of the 25 highest-paid CEOs of the last decade. Ellison's total compensation over the last 10 years, including salary, bonus, stock and stock option grants, was $1.84 billion.
Fannie Mae Employees Got VIP Loans from Countrywide
Newly released documents from the House Committee on Oversight show that Fannie Mae employees accepted special loans and treatment from Countrywide Financial years before the 2008 mortgage meltdown brought financial markets to their knees.
Legal Briefing: Is the Countrywide Settlement in Jeopardy?
Is District Court Judge Mariana Pfaelzer about to throw out the massive Countrywide Financial settlement that has been negotiated between new owner Bank of America and the lender's former shareholders?
Legal Briefing: Bank of America Hit By Massive Wage Lawsuit
Apparently large scale basic labor law violations aren't limited to Wal-Mart (WMT); Bank of America (BAC) was hit Friday with a class action lawsuit charging B of A failed to pay for hours worked, failed to pay overtime, and failed to provide required breaks. B of A currently employs about 294,000 people, and the suing class be as large as 180,000 people.
Criminal Probe of Countrywide May Be Speeding Up
Two years into the investigation of Countrywide Financial, once the nation's mortgage leader, a grand jury late last year began hearing witness testimony. That signals an acceleration in the process, and hints that this phase of the case may now be nearing its resolution.
Why Senator Dodd Should Fire His Chief Counsel
Senate Banking Committee, which Dodd chairs, retains a general counsel, Amy Friend, who apparently tried to profit off the implosion of Wells Fargo, Morgan Stanley, AIG and other financial institutions in the 2008 collapse. The counsel's actions were legal -- but despicable.
