Finance & Mortgage

Bad Assets Overshadow Banks' Huge Profits

When asked by reporters on March 15 about how he perceived the huge profits of China's banking industry last year while the private sector was foundering on a shortage of bank loans, Zhou Xiaochuan, governor of People's Bank of China, said he thought banks' staggering profits were a natural result of readjustment of economic cycles.

Fitch Assigns Selene Finance Residential Mortgage Servicer Rating

Fitch Assigns Selene Finance Residential Mortgage Servicer Rating Fitch Assigns Selene Finance Residential Mortgage Servicer Rating from reuters Fitch Ratings takes the following rating actions on Selene Finance LP's (Selene) U.

Goldman, Landesbank Argue CDOs in US Appeals Court

A U.S. appeals court was asked on Friday to decide whether Goldman Sachs Group Inc (GS.N) and TCW Asset Management Co should have foreseen the housing market implosion that caused a $37 million loss for German state-owned Landesbank Baden-Wurttemberg.
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