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In New York City today, a victory for the Securities and Exchange Commission: A federal jury held former Goldman Sachs trader Fabrice Tourre liable on six of the seven counts against him. The SEC had accused Tourre of intentionally misleading investors about a mortgage-backed security just as the housing sector was beginning to collapse. The investment created huge losses.
A new homeless initiative in Hawaii is raising some eyebrows, and the department in charge of implementing it has concerns of its own.
As part of a larger housing bill in July, the state Legislature approved $100,000 per year for a three-year pilot project that would help get some homeless people off the island and back to their families on the mainland. Participants must leave voluntarily.
Originally published on Thu August 1, 2013 3:59 pm
A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.
Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.
Originally published on Wed October 2, 2013 4:47 pm
When Lissie stopped by World Cafe for her session about a month ago, she still didn't have a name for her new album. Now titled Back to Forever, the singer's second record is due out Sept. 10; it comes three years after the release of her debut, Catching a Tiger. Lissie's new songs emphasize her observations of the world around her. "Shameless," for example, focuses on what people will do for stardom.