The return of subprime lending

A subprime borrower is one who probably shouldn't be lent money. The reason this type of lending is done is that subprime loans are bundled and sold off to someone else. A major cause of the 2008 Great Recession and market meltdown, subprime lending is back!

Citigroup beats $800 million appeal by one-time billionaire

People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009.
Reuters/Robert Galbraith/File Photo

NEW YORK A federal appeals court rejected a one-time Florida billionaire's bid to revive his $800 million lawsuit accusing Citigroup Inc of fraudulently hiding its exposure to subprime and other toxic mortgages, inducing him to hold on to shares he otherwise would have sold.

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Deutsche Bank must face U.S. lawsuit over subprime disclosures

 
A logo of a branch of Germany's Deutsche Bank is seen in Cologne, Germany, July 18, 2016.
Reuters/Wolfgang Rattay

NEW YORK A U.S. judge on Monday said Deutsche Bank AG (DBKGn.DE) must face part of a lawsuit claiming it defrauded investors who bought $5.4 billion of preferred securities by concealing its exposure to the fast-deteriorating subprime mortgage market.

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For Deutsche Bank's Cryan, profit can wait

Deutsche Bank Chief Executive John Cryan addresses a news conference in Frankfurt, Germany, January 28, 2016.
Reuters/Kai Pfaffenbach

FRANKFURT Almost one year into his tenure as Deutsche Bank's chief executive, John Cryan says he has ushered in a new culture of openness, rooted out bad behavior and set about untangling the bank's technology.

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Ex-Countrywide CEO Mozilo will not face U.S. fraud case: sources

Countrywide Financial Corporation founder and CEO Angelo Mozilo testifies before the House Committee on Oversight and Government Reform on Capitol Hill in Washington in this March 7, 2008 file photo.
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Berkshire's Clayton sees upturn in business despite critics

Berkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.
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