Written by If it seems too good to be true, then it probably is.
That could be the mantra repeated by scores of investors entangled with several local hard money lenders responsible for San Luis Obispo County residents losing millions of dollars. READ MORE »
Posts in category Bankruptcy
Bank files against Jay Miller
Heritage Oaks Bank has joined the list of creditors who say that now bankrupt former North County lender Jay Hurst Miller owes them money, according to a recent filing with the U.S. Bankruptcy Court in Santa Barbara.
In the filing, bank Executive Vice President William Raver declared that Heritage Oaks made a $250,000 personal loan to Miller in January 2008. READ MORE »
Rep. Frank: Abolish Fannie Mae, Freddie Mac
A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans. READ MORE »
Six Banks Fail Friday
Written by Regulators closed six banks in three states Friday, bringing this year’s total number of bank failures to 96.
All six failed institutions were included in TheStreet’s Bank Watch List of undercapitalized banks and thrifts, based on first-quarter regulatory data provided by SNL Financial. READ MORE »
Lehman Is On the boundary; AIG Scrambles to enjoy Itself
Lehman at the brim; Merrill to copy Bought
Sunday brings two commoving events, both of which pop in intended to totter fence road to the awfully limelight when U.S. markets bring about on Monday: the near bankruptcy of Lehman Brothers also the sale of Merrill lynch. Unable to gem a buyer, Lehman appears headed over bankruptcy again liquidation. Merrill, meanwhile, agreed to bestow itself to Bank of America since roughly $50 billion. Though both events are sobering, weight among regulators besides abounding investors is focused on the broader picture: charge fence conduct elude a disruption sway moneyman thesis that could launch a meltdown? READ MORE »