“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 [...]

“For the roughly 660,000 residents of Jefferson County, which includes Birmingham, the state’s largest city, bankruptcy means a threat to essential jobs and services. More immediately, it means sewer system rate hikes, an added burden on poor people already saddled with some of the highest rates in the country.

‘It’s terrible for the sewer rate payer,’ [...]

“By now you’ve probably heard the news: Leo Apotheker has received a severance package worth $13.2 million in cash and stock for his 11-month tenure as CEO of Hewlett-Packard….

Robert Kelly received $17.2 million in severance after being ousted from the CEO job at Bank of New York Mellon last month.
Carol Bartz left Yahoo with nearly [...]

While test driving a “loaner” LFA sports car from Lexus, Kyle Busch was caught sppeding through a residential area and now has lost his license as a result. 

“NASCAR points leader Kyle Busch lost his driver’s license for 45 days on Tuesday for driving 128 mph on a road close to a day-care center and church [...]

“NASCAR points leader Kyle Busch lost his driver’s license for 45 days on Tuesday for driving 128 mph on a road close to a day-care center and church in a nearly $400,000 car. His lawyer said his client was not treated “like any other citizen.”

Busch, who doesn’t need a license to compete in NASCAR, also [...]

“A former senior analyst at Moody’s has gone public with his story of how one of the country’s most important rating agencies is corrupted to the core.

The analyst, William J. Harrington, was employed by Moody’s for 11 years, from 1999 until his resignation in 2010.

From 2006 to 2010, Harrington was a Senior Vice President in [...]

I do not know if I agree with this whole article (having not read it all yet), but this is an interesting and unique perspective which seems to resonate, especially given the cost of foreign interventions.  
 
“The only people who seemed consistent about intervention were too far right or left to get much of a hearing. Throughout the 1990s, the [...]

“Jackson Hewitt Tax Service Inc. (JTX) filed for bankruptcy, saying it has a deal with secured lenders that will let the tax-preparation company exit court protection within 60 days.

The filing comes after U.S. regulators moved to curb the loans that tax preparers arrange for customers expecting refunds. Jackson Hewitt listed as much as $500 million [...]

Two large law firms, Bryan Cave and Holland & Knight have been sued by different bankruptcy trustees over their prior representation of companies which later filed bankruptcy proceedings.  Both firms strongly deny the claims made against them.  “Bankruptcy trustees for mortgage loan broker Estate Financial Inc. (EFI) and affiliate Estate Financial Mortgage Fund (EFMF) filed malpractice [...]

Under the sub heading of: “this will make a great movie” comes this tale.  A convicted con man, goes straight and becomes a pastor, trains the IRS and FBI on how to detect fraud and he is now being investigated by the SEC for … fraud.  (As an aside, if you have not seen the [...]