Goldman Sachs - Articles

Fed Admits Mistakes in Mortgage Settlement

By Martin Crutsinger WASHINGTON -- Some 96,000 borrowers who received checks to compensate them for wrongful foreclosures on their mortgages will be getting an additional check to correct for errors in the initial payment, the Federal Reserve announced Wednesday. The Fed said the affected borrowers received initial... Continue Reading »

Urban Compass Wants to Steer the Rental Industry in New Direction

An apartment-finding tool may not sound like a novel startup idea –- especially for a developer who's already sold two companies to the likes of Google and Twitter -– but Ori Allon has decided to place a bet. Launched Wednesday, Urban Compass allows users to search rental listings by price, location and... Continue Reading »

Goldman Sachs To End Robo-Signing Practice

Goldman Sachs, Ocwen Financial Corp. and Litton Loan Servicing will end robo-signing practices and write down as much as $53 million in unpaid principal on New York mortgages as part of an eight-point agreement with an Empire State regulator. In addition, Goldman will forgive 25 percent of the principal balance on New... Continue Reading »

Goldman Sachs Mortgage Deals: Legal but What About Ethical?

So what's the story? Are the creeps at Goldman Sachs the most crooked thieves known to humanity, or are they simply going about business as usual on Wall Street? Both sides of the saga have their merits. It doesn't help Goldman's case when emails surface from its reps about selling "shi***y" bonds, or from Fabrice... Continue Reading »

John Paulson: Goldman Scandal's Hero or Villain?

A scapegoat is emerging for the U.S. housing market meltdown -- and as a reason for more Wall Street regulation -- and his name is John Paulson. As the very smart manager of a hedge fund bearing his name, Paulson and Co., he created a controversial investment vehicle called the Abacus Fund for Goldman Sachs. The Abacus... Continue Reading »

Goldman Fraud Victims? Homeowners, Not Investors

You probably already know that the Securities and Exchange Commission alleges that hedge fund Paulson & Co handpicked stinker mortgage-backed securities to put into an investment pool, then bet that the pool would fail. Goldman didn't even buy the securities themselves – it just took investors' money based on... Continue Reading »

SEC Sues Goldman Sachs

We at Housing Watch had to do a double take when the news came in. The Securities and Exchange Commission is suing Goldman Sachs, and demanding that it return money that the SEC charges was obtained through fraud. The SEC? The same SEC that stood by as securities traders saddled teachers' pension funds with toxic products... Continue Reading »

Goldman Sachs Didn't Profit From Mortgage Defaults, But It Tried

We're good guys, really! Goldman Sachs, the publicly vilified former investment bank famously nicknamed a "great vampire squid wrapped around the face of humanity" by Rolling Stone's Matt Taibbi for the way its seemingly wraps its tentacles around every far flung money-making opportunity, issued a defense in its annual... Continue Reading »

Hotel that Hosts PGA Tour (and a Remorseful Tiger Woods) Files for Bankruptcy

When Tiger Woods emerged from sex rehab recently to apologize for his mortal sins, he chose as his place of repentance not a church, but a cheesy looking Marriott hotel. Well, ok, he is a golfer and he does live in the Sunshine State and the hotel -- the Sawgrass Marriott Resort in Ponte Vedra Beach -- is home to a PGA... Continue Reading »

Has Greenwich Got Its Groove Back?

It's home to hedge funders, CEOs, and boldface bigwigs galore. But until Wall Street bonuses were back, real estate just wasn't the same in gilded Greenwich, Conn. But has the housing market in the jewel of Connecticut's Gold Coast really recovered as dramatically as has been recently reported? Greenwich, an old-money... Continue Reading »

For Bankers, Who's the Boss?

Watching the CEOs of America's largest banks testifying this week to Congress about their roles in starting The Great Recession with varying levels of contrition and defiance raises the question: exactly who are banks really accountable to in these post-TARP days? Who's the boss? Shareholders? Taxpayers? Customers (whom... Continue Reading »

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