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FBR Group (FBR), perhaps better known as Friedman, Billings, Ramsey, is a pretty tight-knit group of investment bankers and managers. They’ve weathered good times and bad, such as the fallout from the firm’s illegal short sales of dot-com client CompuDyne. FBR rebounded from the scandal, however, and just three-and-a-half years ago, the firm [...]
Apparently, Countrywide Financial (CFC) isn’t the only lender cutting back on some perks that might not be viewed in the best light, given the current subprime mess. Citigroup (C), which has also been caught like a deer-in-subprime headlights, is also paring back, judging by this exhibit attached to the 10-K the banking giant filed late [...]
Barack Obama is not the only one thinking about “change” right now. Here at Footnoted we’re also interested in change - namely, the ways that some companies’ 10-Ks have changed from last year’s versions. While these year-to-year comparisons highlight important trends in recent filings, e.g., the increased popularity of terms like “subprime” and “monoline exposure,” [...]
Pitchers and catchers start reporting to spring training tomorrow, so I decided to do a bit of scouting of my own. On Friday, I headed back down to Anna Maria Island in Florida to get some much-needed sun and check on the foreclosure situation first-hand. First stop? Countrywide’s (CFC) sex party house, which I first [...]
Over the past few days, most of the large Wall Street firms have filed their 10-Ks for 2007, which was kinder to some, including Goldman Sachs (GS) and less so to others, like Morgan Stanley (MS). So we wondered how often and to what extent the various firms would blame their woes on the subprime [...]
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