The DOJ on Tuesday said it had filed a civil lawsuit against Bank of America for what government lawyers said was a fraud on investors.
Detroit has become a pariah of the muni world, but analysts are holding out hope that the nation's largest government bankruptcy isn't contagious.
Detroit said it would stop making some debt payments and asked creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing in US history.
Bruce Berkowitz's Fairholme Capital Management takes $500 million preferred equity stake in Fannie Mae and Freddie Mac.
There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
MBIA has settled with Societe Generale for $350 million, reports CNBC's Kate Kelly.
Two words sum up the trading in Bank of America yesterday: fast money.
Bond insurer MBIA and Bank of America have reached a settlement in an ongoing legal dispute, and BofA will pay MBIA $1.6 billion, the companies said on Monday.
Bank of America's settlement with MBIA may be a turning point for the company and its investors, reports CNBC's Kate Kelly. Benjamin Lawsky, NY's Dept. of Financial Services superintendent, weighs in.
Stocks finished narrowly mixed Monday as trading was largely muted with no major economic news on tap and as investors hesitated to jump in after the recent rally, but the S&P 500 rose to touch a fresh all-time high.
The bull market's latest run may have some cheering but traders say some of the stocks leading it are questionable -- a sign that a pullback could be ahead.
Hedge fund manager William Ackman, who has called nutritional supplements company Herbalife a pyramid scheme, said the biggest risk in shorting the company was whether regulators would take time to focus on the matter.
You just knew it was the zombies, didn't you? Countrywide's Angelo Mozilo says zombie homeowners were to blame for the financial crisis -- not bad loans.
MBIA scored a convincing victory Monday in its latest skirmish with Bank of America, so the somewhat muted response in the shares since then is surprising, TheStreet.com reports.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
Take a look at some of Monday's midday movers:
Take a look at some of Tuesday's midday movers:
A lawyer for the banks said MBIA’s chief was “pregnant with inside information” on MBIA’s pending 2009 restructuring when he bought company stock in the months before the announcement. The New York Times reports.
Bank of America just saw the heat turned up again in its multipronged, multibillion-dollar legal battle over problem mortgages, according to an analyst report.
"The year has started a little firmer," Morgan Stanley CEO James Gorman told CNBC during the Davos World Economic Forum. "The U.S. is in a little better shape than the markets have appreciated, and the markets are catching up."