Subprime mortgage problems still have some significant legs as the share price of Fannie Mae and Freddie Mac showed today.  At one point today, shares dropped as much as 50% on the NYSE.  It does seem as if the companies will be protected from failure and completely insolvency by the US government.  However, it is […]

H&R Block (NYSE: HRB) has finally offloaded its Option One subprime mortgage unit.  The daredevil acquirer? WL Ross  & Co, run by famed investor Wilbur Ross.  The deal went through at about $1.1 billion.  Cerberus, the last suitor to Option One, pulled out after it saw the subprime and housing crisis come tumbling down.  Ross […]

The US Federal Bureau of Investigation (FBI) has commenced investigations against 14 corporations.  The fraud investigation includes probes into insider trading and accounting fraud.  The FBI is working together with the Securities and Exchange Commission.  It is unclear who the targets of the FBI investigation are, but the SEC has probed MBIA (NYSE: MBI), UBS […]