In another legal blow to Bank of America, a group of 15 institutional investors has sued the bank for allegedly misleading investors about the integrity of its subsidiary Countrywide Financial’s financial condition and lending practices.
The Fed’s Senior Credit Officer Opinion survey shows that banks are offering more favorable credit terms to large investors in an attempt to move back towards traditional bank lending.
A group of 11 mortgage-bond investors have filed a challenge to Bank of America’s proposed $8.5 billion settlement with holders of its subprime mortgage securities.
Bank of America has agreed to settle for $14 billion with investors who bought ill-fated subprime mortgage securities from its Countrywide Financial subsidiary.
PIMCO's El-Erian predicts a Greek default, yet says a default will not prompt a new global financial crisis because the country is too small in terms of economic impact.
A new BofA Merrill Lynch Survey of Fund Managers for May shows that a net 28% of regional fund managers expect China's economy to weaken in the coming year, up from a net 15% in March.
The manager of the world’s largest bond fund, who sold out of all his holdings in US Treasury bonds in March of this year, is pushing investors to move away from Treasuries and seek global investments for better yield opportunities.
Despite turbulent economic times and bigger anticipated payments to underfunded public pensions, a new study has indicated that few municipalities will default on debt.
The manager of the world's largest mutual fund has raised more than $1.5 billion for a private pool to buy debt such as troubled commercial and residential mortgages from banks looking to improve their balance sheets.
Just how much of the estimated $3 trillion in Japanese assets held outside the country will be repatriated due to the earthquake, tsunami, and potential nuclear disaster has yet to be seen.
