Ohio filed a suit Friday against global rating agencies, claiming they provided misleading information ahead of the financial crisis that caused nearly 500 million dollars in losses for state funds. State attorney general Richard Cordray filed the lawsuit against Standard & Poor's, Moody's and Fitch Ratings on behalf of five Ohio public employee retirement and pension funds hit by the latest financial crisis. The suit is the latest against credit ratings agencies, which had given mostly... Read Full Story
Ohio's attorney general has sued the three credit ratings agencies alleging that they gave unjustifiably high ratings to mortgage-backed securities that lost at least $457 million for five Ohio public pension funds. Attorney General Richard Cordray filed the suit Friday in U.S. District Court in Ohio. He says that Standard & Poor's, Moody's Investors Service, and Fitch Ratings assured the pension funds that mortgage-backed securities had the highest ratings and lowest risk. The securities... Read Full Story
Bankruptcy, in its inititial years, was formulated for the benefit of creditors. This gave power to the creditor to confiscate all the property of the borrower to compensate for his loss. This scheme not only left the borrower broke but also entailed him to serving imprisonment. However, the system has been transformed a good deal with the passage of time. In present days, bankruptcy is generally filed by a debtor who admits his inability to pay back his loans. This enables the debtor to... Read Full Story
The constant financial meltdown has produced an environment for many deceitful debt settlement services to sprout up in. The sad fact is, this period of economic decline is as bad as it has ever been. As a result, it is alluring companies into the sector of debt relief that don’t have their customers’ best interest at heart. Most are here to earn fast capital by preying on Americans that are struggling during a trying time.
But how should consumers in need of aide comprehend if a... Read Full Story
The fallout from last year's credit collapse continues as another state has sued the nation's credit agencies, accusing them of misleading investors.
Ohio Attorney General Richard Cordray has filed a lawsuit against Standard & Poor's, Moody's and Fitch, three national agencies that are responsible for providing accurate credit ratings of investments.
The lawsuit, filed in United States District Court for the Southern District of Ohio on behalf of five Ohio public employee retirement... Read Full Story
Hi All
I am looking for a book on amazon or good website that explains in lay mans terms the following,
Equities
Credit Default Swaps
Derivates
Fund Edging
Fixed Income
Etc
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Im 22 young and got caught up in debt. My credit is good tho as my bills are always paid on time.
Problem is I have around $19k in student college loans and around $10k in credit card debt. Plus i owe $17k on my truck. I need to buy a a house. Is it possible to find something with alot of equity so that i can consolidate all of the above debts into the mortgage?
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If you address a debts management company, the first thing they should do is to go through all your finances together with you in order they have a clear understanding of your situation. If they think they can help you then they will make a proposal. This assumes that you will be provided with a debt management specialist that will deal with all your creditors and negotiate them to make new arrangements for your considering debt settlement. Their main goal is to reduce considerably the... Read Full Story
Credit card debt elimination by non-payment sounds too good to be true, but it is true. Mel Thompson, the author of the Credit Card Debt Survival Guide, who put his credit card debt behind when he could not pay it, shares the techniques he learned from lengthy research into consumer protection laws and other people’s first hand experiences.
There are a lot of scams out there. This is the real thing.
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