Mortgage and Financial News From 2008-1-26 Page 13

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  • Rogue trader on the run after $8bn bank fraud

    News.com.au - Trading in the bank's shares has been suspended on the Paris stock exchange after the revelation of the fraud, along with a $3.3 billion loss from from the U.S. sub-prime mortgage crisis. The man who allegedly defrauded the bank of $8.2 billion was ...
    2008-01-23 03:59:00
  • France sees red after SG gets taken for a ride

    Guardian Unlimited - ... officer inside the building was conducting a random check that would ultimately uncover the biggest banking fraud in ... Little wonder that in December 2006 Morgan Stanley bought a sub-prime mortgage group, just seven months before the credit ...
    2008-01-26 03:34:00
  • A Global Fed

    Wall Street Journal - The $7 billion fraud at Société Générale and the mess at Britain's Northern Rock mortgage lender also make clear that American bankers don't have a monopoly on bad judgment. The currency reserves and sovereign wealth funds that many countries ...
    2008-01-26 01:54:00
  • 'Rogue Trader' Costs French Bank $7 Billion

    ABC News - ... London think tank, told ABC News. Leeson has consistently warned that the measures put in place to protect against fraud ... Despite an additional loss of $3.2 billion due to the U.S. subprime mortgage drawdowns, which were also announced today ...
    2008-01-26 04:24:00
  • Police quiz accused 'rogue trader' - CNN International

    Police quiz accused 'rogue trader'CNN International - 10 hours agoThe bank discovered the fraud last weekend and confirmed it was an isolated case. It said the employee, who had worked for Societe Generale since 2000, ...
    2008-01-26 08:25:28
  • Strategy not to blame for 'accidental' losses: SocGen chairman - Turkish Press

    Strategy not to blame for 'accidental' losses: SocGen chairmanTurkish Press, MI - 10 hours agoSociete Generale announced at the same time as the fraud that it had lost about two billion dollars on its subprime exposure. The Bank of France governor ...
    2008-01-26 08:46:40
  • Rouge Trader Detained In Paris For Interrogation [] - RTT News

    Rouge Trader Detained In Paris For Interrogation []RTT News, NY - 8 hours agoThe bank, which is on the verge of posting huge write-downs due to exposure to the troubled US mortgage market, will be compelled to sell additional ...
    2008-01-26 09:56:36
  • Getting Tough on Child Abusers - ABC30.com

    Getting Tough on Child AbusersABC30.com, CA - 7 hours agoBy Amanda Perez KFSN -- Assemblyman Mike Villines says he'll introduce "Adam's Law" within the next two weeks, named after a Fresno boy who was left ...
    2008-01-26 11:52:26
  • THE GREAT FORECLOSURE - AHRC News Services

    THE GREAT FORECLOSUREAHRC News Services, CA - 5 hours agoWhy are the mortgage notes not recorded by lawyers in the deed official's office? Because it is fraud!! Why are lawyers helping to defraud the American ...
    2008-01-26 01:40:53
  • Rogue trader II - Sunday Herald

    Rogue trader IISunday Herald, UK - 4 hours agoKerviel, 31, had gone to ground since the news of the biggest banking fraud in history stunned the financial world last Thursday when Société Générale ...
    2008-01-26 02:12:31
  • THE IMMUNITY-SHOE DROPS AND INVESTMENT BANKERS SUCK IN THEIR BREATH - OpEdNews

    THE IMMUNITY-SHOE DROPS AND INVESTMENT BANKERS SUCK IN THEIR BREATHOpEdNews, PA - 4 hours agoWhen you're in the middle of a scam, the heat of battle, some of the fraud is bound to still be on the table (or twitching spasmodically on the floor) ...
    2008-01-26 02:40:54
  • COMING SUNDAY: Bankers and the boom - Sarasota Herald-Tribune

    COMING SUNDAY: Bankers and the boomSarasota Herald-Tribune, FL - 3 hours ago“Fraud and abuse” by banking insiders wrecked the economy then, he says, and he suspects that the same thing happened during the recent rise and fall of ...
    2008-01-26 03:01:56
  • CATCH UP ON THE WEEK - Scotsman

    CATCH UP ON THE WEEKScotsman, United Kingdom - 2 hours agoMarkets around the world plunged to near-record lows in response to fears of a recession, following losses in the sub-prime mortgage market in the US. ...
    2008-01-26 04:05:11
  • Mortgage Workshop - ABC30.com

    Mortgage WorkshopABC30.com, CA - 1 hour agoHomeowners got to meet with representatives from the state of California in addition to lenders, counselors and fraud prevention experts. ...
    2008-01-26 05:09:38
  • French police interrogate rogue trader - AFP

    French police interrogate rogue traderAFP - 23 minutes agoThe 31-year-old Kerviel, who had not been seen since the finance industry's biggest fraud losses were revealed on Thursday, arrived at the headquarters of ...
    2008-01-26 06:30:50