DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Mozilo - 3 Angelo Mozilo - 2 Sam Bankman - 1 FTX’s - 1 Ken Lay - 1 Arthur Andersen - 1 Dodd - 1 Frank Wall - 1
Top related locs:
New York Bronx Manhattan New Zurich Brooklyn Washington Santa Barbara
Top related orgs:
Countrywide Financial - 5 Bank of America - 4 Countrywide - 3 Thomson - 3 Foundation - 2 Enron - 1 Lawmakers - 1 Sarbanes - 1

Search resuls for: "Countrywide Financial"


9 mentions found


☆ Bankman-Fried circus will be a singular clown show
  + stars: | 2023-10-04 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +3 min
NEW YORK, Oct 4 (Reuters Breakingviews) - All eyes are on Sam Bankman-Fried as the cryptocurrency founder’s criminal trial gets underway this week. The high-profile case bears similarities to past scandals such as Enron and Countrywide Financial, when regulation followed investigations. Lawmakers hauled Wall Street analysts up to Capitol Hill to grill them about their “buy” ratings. Importantly, legislators passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, forcing banks to hold more capital, among other stipulations. It also is less prevalent – less than 20% of Americans have invested in crypto, according to the Pew Research Center.
Persons: Sam Bankman, FTX’s, Ken Lay, Arthur Andersen, Dodd, Frank Wall, Tom Brady, Bill Clinton, Fried, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Enron, Countrywide Financial, Countrywide, Bank of America, Lawmakers, Sarbanes, Oxley, Frank Wall Street Reform, Consumer, The Securities, Exchange Commission, Pew Research Center, Louis Federal Reserve, Southern, Thomson Locations: Manhattan, New
☆ UBS pays $1.43 bln to settle US mortgage claims as industry-wide probe concludes
  + stars: | 2023-08-14 | by ( Kanishka Singh Jonathan Stempel | Kanishka Singh | Jonathan Stempel | ) www.reuters.com   time to read: +2 min
The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009 file photo. REUTERS/Arnd Wiegmann/File PhotoWASHINGTON/NEW YORK, Aug 14 (Reuters) - UBS (UBSG.S) agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis. The largest settlement, $16.65 billion, was reached in 2014 with Bank of America (BAC.N), which had bought mortgage specialist Countrywide Financial six years earlier. Credit Suisse, which UBS bought in June, reached a similar $5.28 billion settlement in 2017. In a press release, UBS said it previously set aside reserves to cover the $1.43 billion payout.
Persons: Arnd, RMBS, Attorney Breon, Kanishka Singh, Jonathan Stempel, Mark Porter, Jonathan Oatis Organizations: Swiss, UBS, WASHINGTON, U.S . Department of Justice, Bank of America, Countrywide Financial, Credit Suisse, U.S, Attorney, Thomson Locations: Zurich, Brooklyn, Washington, New York
☆ Angelo Mozilo, Whose Mortgage Giant Fell in Housing Bust, Dies at 84
  + stars: | 2023-07-18 | by ( Tara Siegel Bernard | More About Tara Siegel Bernard | ) www.nytimes.com   time to read: +1 min
Angelo Mozilo, a founder of Countrywide Financial who presided over that lending giant’s rapid ascent and then its collapse during the financial crisis of 2008, died on Sunday. His death, in the Santa Barbara, Calif., area, was announced in a statement by the Mozilo Family Foundation, the family’s philanthropic organization. Countrywide was a major player in the run-up to the housing crisis, when looser financial regulations enabled lenders to aggressively sell risky mortgage products to prospective homeowners, contributing to a bubble in housing prices. Mr. Mozilo, the son of a Bronx butcher and who worked his way through Fordham University, became one of the most recognized executives associated with the crisis. Motivated by his modest beginnings, he had built Countrywide into one of the nation’s largest mortgage lenders by the early 2000s.
Persons: Angelo Mozilo, Mozilo Organizations: Countrywide Financial, Foundation, Countrywide, Fordham University Locations: Santa Barbara, Calif, U.S, Bronx
☆ Angelo Mozilo, Countrywide Financial's former CEO, dies at 84
  + stars: | 2023-07-17 | by ( ) www.reuters.com   time to read: +1 min
July 17 (Reuters) - Angelo Mozilo, who propelled Countrywide Financial Corp into the largest U.S. mortgage lender before its crash in the 2008 financial crisis, has died, his family foundation said. Mozilo, 84, died of natural causes, the foundation said in a statement on Sunday. In 2006, when Mozilo was the chief of the mortgage lender Countrywide Financial, the firm originated $461 billion worth of loans -- close to $41 billion of which were subprime. Subprime loans were responsible for the global financial crisis. Mozilo had defended himself several times against accusations that he was a key architect of the 2007-2009 financial crisis.
Persons: Angelo Mozilo, Mozilo, Conde Nast, Shubhendu Deshmukh, Nupur Anand, Franklin Paul, Deepa Babington Organizations: Countrywide Financial Corp, Countrywide Financial, Bank of America, Bloomberg, Thomson Locations: Bronx, United States, Bengaluru, New York
☆ Angelo Mozilo death: Countrywide Financial mortgage company CEO and financial crisis key player passes away at 84
  + stars: | 2023-07-17 | by ( Krystal Hur | ) edition.cnn.com   time to read: +1 min
New York CNN —Angelo Mozilo, former chief executive of Countrywide Financial and a key player in the subprime mortgage meltdown that led to the 2008 financial crisis, died Sunday. “It is with great sadness that the family of Angelo Robert Mozilo announces his passing from natural causes. The family requests privacy at this time,” The Mozilo Family Foundation, a charitable organization founded by Mozilo and his late wife Phyllis, said in a press release. Mozilo’s name and that of the mortgage-lending company he cofounded are closely linked to the subprime mortgage meltdown that helped snowball the financial crisis in 2008. The embattled mortgage lender agreed to be acquired by Bank of America for $4 billion in an all-stock deal in 2008.
Persons: New York CNN — Angelo Mozilo, Angelo Robert Mozilo, Mozilo, Phyllis Organizations: New, New York CNN, Countrywide Financial, Foundation, Countrywide, Bank of America, Securities and Exchange Commission, SEC Locations: New York
☆ Factbox: Warren Buffett's investments in financial firms
  + stars: | 2023-03-23 | by ( ) www.reuters.com   time to read: +3 min
[1/2] Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. Here is history on Buffett's involvement with banks and current holdings in his investment portfolio. The investment gave Berkshire preferred stock that paid a 10% along with warrants to pay $5 billion for 43.5 million Goldman shares at $115 each. Berkshire has financial services investments in other countries. Reporting by Jonathan Stempel in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
☆ Buy Berkshire Hathaway stock for Warren Buffett's steady hand during crises, says Morningstar
  + stars: | 2023-03-20 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Warren Buffett's long history of aiding failing banks is one reason for investors to buy Berkshire Hathaway shares now, in the midst of the latest banking blowup, according to Morningstar. "Another banking crisis, another call to Buffett," Morningstar analyst Greggory Warren said in a note Monday. The legendary investor has been a white knight for troubled banks on other occasions. Buffett also famously came to Goldman Sachs' rescue with a $5 billion cash infusion after the collapse of Lehman Brothers in 2008. The analyst said Berkshire shares are appealing right now and could serve as downside protection given its diverse businesses and unmatched balance sheet strength.
☆ In praise of American finance’s regulatory mess
  + stars: | 2023-03-09 | by ( John Foley | ) www.reuters.com   time to read: +8 min
NEW YORK, March 9 (Reuters Breakingviews) - There are many issues on which China and the United States are far apart. The People’s Republic this week proposed combining financial regulatory functions into a new super watchdog to govern its financial sector more effectively. China’s proposed new National Financial Regulatory Administration is roughly in this mold. Since 2008, officials in Beijing have criticized the United States’ financial excesses and its “warped conception” of financial discipline. The new National Financial Regulatory Administration would sit directly under the State Council, which serves as China’s cabinet.
☆ Breakingviews: Sam Bankman-Fried lacks cover of systemic risk
  + stars: | 2022-12-13 | by ( Antony Currie | ) www.reuters.com   time to read: +4 min
MELBOURNE, Dec 13 (Reuters Breakingviews) - Sam Bankman-Fried couldn’t be blamed for mulling over past financial scandals with a degree of envy. The former boss of bankrupt crypto exchange-cum-hedge-fund FTX was arrested on Monday in the Bahamas at the request of U.S. prosecutors. No senior executives ended up facing criminal charges, or were hauled off in handcuffs even, though several Libor traders went to jail. loadingCONTEXT NEWSSam Bankman-Fried, the former chief executive of now-bankrupt crypto firm FTX, was arrested in the Bahamas on Dec. 12. The attorney general’s office for the Caribbean state said it took Bankman-Fried into custody after receiving formal confirmation of criminal charges from U.S. prosecutors.
0 next >>
Total: 9