CALIFORNIA SUPREME: Riverisland Cold Storage, Inc. v. Fresno-Madera Production Credit Association – Oral Promises by Lenders Can be Used in Fraudclosure Cases

“But the court, in an opinion by Justice Carol Corrigan, said the 1935 ruling was poorly reasoned, had been rejected by other states and “may actually provide a shield for fraudulent conduct.” ~ Oral promises can be used in fraud case Borrowers facing default on a loan can try to prove that the lender orally promised … Read more

The Unregulated Multi-Trillion Dollar Derivatives Market Exceeds Global GDP and Poses a Clear Danger to the Global Economy (VIDEO)

Chris Whalen & Barry Ritholtz: The Unregulated Multi-Trillion Dollar Derivatives Market Timebomb (Bloomberg Law) — The unregulated multi-trillion dollar derivatives market exceeds global GDP and poses a clear danger to the global economy, Chris Whalen, Senior Managing Director at Tangent Capital Partners, and Barry Ritholtz, CEO at Fusion IQ, tell Bloomberg Law’s Lee Pacchia. “The … Read more

GRETCHEN MORGENSON | Fair Game: How to Cut Megabanks Down to Size

How to Cut Megabanks Down to Size IT is a prevailing myth in Washington: big bailouts are over for good. Never again, the line goes, could giant financial institutions imperil the nation’s economy. This is nonsense, of course. Whatever regulators and lawmakers say, the Dodd-Frank financial overhaul lacks any guarantee that taxpayers won’t have to … Read more

FOMC Transcripts: Geithner Appears To Have Violated The Law

The Market Ticker – Geithner Appears To Have Violated The Law From the Fed Transcripts: MR. LACKER. If I could just follow up on that, Mr. Chairman. CHAIRMAN BERNANKE. Yes, go ahead. MR. LACKER. Vice Chairman Geithner, did you say that they are unaware of what we’re considering or what we might be doing with … Read more