“WASHINGTON (AP) — Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter.
Freddie Mac said Thursday that it lost $6 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in the same [...]
“Hundreds of millions of dollars of customer’s money has gone missing from the brokerage firm run by former New Jersey governor Jon Corzine, sources told The New York Times.
The New York-based company, MF Global, filed for bankruptcy Monday following bad bets on euro zone debt.
The discovery of the missing millions stopped a last-minute deal to [...]
[Read More]A new case out of the Fifth Circuit Court of Appeals, Spencer ad hoc Equity Comm. v. Idearc, Inc. (In re Idearc, Inc.), 2011 U.S. App. LEXIS 20965 (5th Cir. 2011), discusses the issue of “equitable mootness” in a Chapter 11 bankruptcy. Equitable mootness “is a recognition by the appellate courts that there is a [...]
[Read More]On December 1, 2011 several new and amended rules to the Federal Rules of Bankruptcy Procedure will take effect. The official forms have been updated as well. Of significant importance are the new and amended rules and forms regarding secured interests in a debtor’s principle residence. The new and amended rules require that creditors, whose [...]
[Read More]“SAN LUIS OBISPO, Calif. (MarketWatch) — Worst-case scenario’s closing fast: Occupy Wall Street growing. But no political power or allies yet. Feared yes, attacked by GOP proxy tea party. Soon the Occupation will explode into a new American Revolution.
When? A string of European bank collapses is dead ahead. And like the Arab Spring, they will [...]
[Read More]“This whole setup — in which millionaires and billionaires gambled on mountains of dangerous securities, with taxpayers providing the stake and assuming almost all of the risk — is the reason that it’s insanely premature for Wall Street to claim that the bailouts have actually made money for the government. We simply can’t make that [...]
[Read More]“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 [...]
Dallas County DA Watkins is no stranger to controversy. In the past he has hired ths author’s personal friend Mike Ware to conduct a multi year innocence project reviewing that office’s past convictions to uncover errors. Many wrongly convicted prisoners were set free as a result of that project. Now Watkins has filed a groundbreaking [...]
[Read More]The Chapter 7 Trustee for the defunct law firm Thelen Marrin has filed 98 lawsuits on the eve of the statute of limitations. The law firm had 600 lawyers in 2006 and filed for Chapter 7 in 2009. The defendants range from ex partners and their new law firms (attempting to recover fees for work done at [...]
[Read More]“WASHINGTON (AP) - The Federal Reserve is running out of options to try to boost a slumping economy and lower unemployment. So policymakers are expected to reach 50 years back into their playbook for their next move.
Most economists expect the Fed to announce a plan Wednesday to shift money in its $1.7 trillion portfolio [...]
[Read More]J. Michael McBride firm offers legal representation in bankruptcy proceedings, primarily for large corporation creditors nationwide. Bankruptcy law: adversary proceedings, fraudulent transfers, preferences, overall creditor representation in bankruptcy matters. Commercial Creditors are primary clients.
