Archive for the 'subprime mess' Category

If you’re in Princeton, New Jersey, anytime soon, swing by the Hyatt Regency Princeton. With the Hyatt Hotels (H) quarterly report filed yesterday, it has become a symbol of the financial crisis — and of a some stark contrasts between business and personal debt in the U.S. Like households across the country, one of Hyatt’s [...]

Another stormy summer day in Washington, another high-profile lawsuit from the Securities and Exchange Commission — this one against Citigroup and former senior executives of the company. Once again, it’s about disclosure, and the agency’s press release puts it succinctly: “Citigroup repeatedly made misleading statements in earnings calls and public filings about the extent of [...]

By now, the $2.7 billion in profits that JP Morgan reported last week are starting to fade into the ether. After all, during earnings season, it’s hard to keep track, even when it comes to the bigger names. But we were far more interested in the second quarter slideshow that JPMorgan Chase filed with the [...]

Normally, the FDIC waits until Friday to close a troubled bank. But apparently, they couldn’t wait any longer on BankUnited, announcing yesterday that the bank was now being run by the FDIC in what has been described as this year’s biggest failure. Having spent several years in Florida, I was familiar with the bank and [...]

It’s no secret that housing prices in places like Riverside County, Ca. have fallen sharply, in part due to a wave of foreclosures that at least according to this article has one out of every eight homeowners facing foreclosure. Indeed, the county is working hard to avoid more foreclosures. Still, the 8K that Circor (CIR) [...]