“According to San Francisco real estate blog SocketSite.com, lender Bank of America, which picked up the deed to the 20,000-square-foot penthouse in lieu of foreclosure back in July, just sold the condo, which was listed at $35 million, which would make it the most expensive residential sale in the city’s history.

Still, the price is half of what [...]

“The Securities and Exchange Commission has brought civil actions against six former top executives at the mortgage giants Fannie Mae and Freddie Mac, saying that the executives did not adequately disclose their firms’ exposure to risky mortgages in the run-up to the financial crisis.

The cases represent the first major action by the federal agency in [...]

“Citing “several independent sources”, Swedish business daily Dagens Industri (DI) reported early on Monday that Saab’s parent company Swedish Automobile (Swan) is expected to submit a bankruptcy petition on Monday afternoon to the Vännersborg District Court.

However, a “well-placed” source at Saab told the TT news agency that a decision about putting Saab in bankruptcy has [...]

Another sign of world wide economic distress:  bank run in Latvian.  While one may say “where is Latvia and why do we care about their bank run?”  it is important to remember the  interconnected-ness of our world, especially our economic world. 

“Latvians are particularly sensitive to speculation about banks’ health. Latvijas Krajbanka, the country’s 10th largest bank, [...]

In a rare display, an attorney filed papers with the US Bankruptcy Court which were filled with slurs against the Roman Catholic Church. 

“A fed-up bankruptcy judge Wednesday ordered a Hastings attorney and her client to show cause why each shouldn’t be fined up to $10,000 for calling the jurist a ‘Catholic Knight Witch Hunter’ - [...]

Here is a story involving: a bankruptcy attorney and his disgruntled client who also happens to be a blogger.  A recent opinion from a Federal District Court on involving these characters holds that a blogger is not afforded the protections of a journalist.  Thus the disgruntled client may be more apt to be held liable in her ex [...]

Rapper Souldja Boy is served with eviction papers on his almost $5,000 a month apartment. 

“This is a rather grim end to a hardly wonderful 2011 for the rapper. Previously this year, he’s been arrested for marijuana and gun possession, was found to be lying about buying a private jet, got told he owed a significant [...]

It is enough to make any car guy cry: a crash in Japan smashed up the likes of 8 Ferraris (evidently including a Testarossa, an F512, F355, F430 and an F360), 1 Nissan GT-R Skyline,  three Mercedes Benz automobiles and a Lamborghini Diablo.  The good news is that no one was injured.  One has to wonder about the wisdom [...]

Unrelated to any bankruptcy or economic news, here is a story about an arrest at Tulane University which was interesting.   With Mr. M’Boob’s background (many criminal charges pending and no visa for 23 years) one wonders how he was admitted to the school. 

“Ousman M’Boob, a 42-year-old School of Continuing Studies student, was escorted from his [...]