NEW YORK (Reuters) - On Wall Street, massaging the balance sheet is a time-honored practice.
But did Lehman Brothers Holding Inc <LEHMQ.PK> cross a line in the routine manipulation of its balance sheet, as described by an independent examiner?
That is the central question to emerge from the examiner's ...More
WASHINGTON (Reuters) - The Park Avenue Bank, a New York City-based institution, was among three banks seized by regulators on Friday, and is the second area bank to fail in two days.
The other banks seized on Friday were small institutions in Florida and Louisiana, and brought the total number of ...More
WASHINGTON (Reuters) - An explosive report by a court-appointed examiner on the collapse of Lehman Brothers <LEHMQ.PK may prove to be a roadmap for prosecutors to bring criminal cases against the investment bank's former executives, legal experts say.
The 2,200-page report could lay the groundwork for felony charges ...More
SAN FRANCISCO (Reuters) - Apple Inc has awarded its chief operating officer a bonus valued at $22 million for leading the company while Chief Executive Steve Jobs was on 6-months' medical leave last year.
The cash-and-stock award came at Jobs' recommendation, and was made in recognition of Tim Cook's "outstanding ...More
NEW YORK (Reuters) - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to next week's economic data and statement from the central bank for evidence the recovery is still on track.
After tumbling during the fourth-quarter earnings season, the S&P 500 ...More
NEW YORK (Reuters) - Author Michael Lewis, known for exposing the culture of excess at Solomon Brothers with his book "Liar's Poker," says Wall Street bonuses at banks bailed out by Washington are "a very elegant form of theft."
Lewis's latest book "The Big Short: Inside the Doomsday Machine ...More
BOCA RATON, Florida (Reuters) - The pace of financial regulatory reform remains slow even as the global economy struggles to recover from a crisis that many say was caused by inadequacies in the current system, attendees at an annual financial conference said this week.
Now 18 months after the financial crisis ...More
WILMINGTON, Delaware (Reuters) - Washington Mutual Inc <WAMUQ.PK> said on Friday that it reached a deal that will bring it roughly $6 billion and help resolve its bankruptcy, but it could leave shareholders in the cold.
The company, which is tied to the biggest bank failure in U.S. history ...More
NEW YORK (Reuters) - Wells Fargo & Co <WFC.N> said on Friday it is in talks with Baltimore officials that could avert further litigation by that city over the bank's mortgage lending practices.
Baltimore sued the fourth-largest U.S. bank in January 2008, accusing it of steering minority borrowers to ...More
By Al Yoon - Analysis
NEW YORK (Reuters) - Jon Daurio, chief executive officer of mortgage investor Kondaur Capital Corp., recently offered a $4,000 check to Barry Culver for the deed to his Bryan, Ohio house.
With the exchange, and a pay-off to a second-lien holder, Culver was freed of $120 ...More
