February 2016

Deutsche Bank to Cut Bonuses After Record Loss

February 1, 2016 Lynn Szymoniak

From Reuters:

Deutsche Bank is sharply cutting 2015 bonuses as it expects a record loss for the year due to writedowns, litigation charges, restructuring costs and tough trading conditions, three people familiar with the matter said. While employees of Germany’s largest lender will only be notified about their individual bonuses in March, they have already been told that payout pots for individual divisions will shrink by at least 25 to 30 percent, they added.

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Mortgage Crimes, Part 1: Small Houses, Big Mortgages

February 1, 2016 Lynn Szymoniak


WH was a 73-year-old man, living in an apartment near Ft. Lauderdale, when he ventured into the world of real estate in 2007. WH bought three houses in West Palm Beach, Florida in four months. He paid $195,000 for a house at 2408 Saginaw Avenue on February 16, 2007.(See Photo 1.01.) Less than two weeks later, on February 28, 2007, he paid $250,000 for a house at 514 44th Street in West Palm Beach.(See Photo 1.02.) Less than three months later, on May 14, 2007, he paid $230,000 for a house at 715 42nd Street.… [Read More]