This article is provided to FT.com readers by Debtwire—the most informed news service available for financial professionals in fixed income markets across the world. www.debtwire.com -------------------------------------------------------------------------------- New York Supreme Court Judge Barbara Kapnick ruled Tuesday afternoon before a courtroom overflowing with attorneys that Bank of America’s USD 8.5bn settlement over 530 Countrywide residential mortgage bonds will not be restructured, Debtwire reports. While nodding to the objectors’ argument that this is an unprecedented case for Article 77, a rarely used New York statute typically reserved for family trusts, she said, “I do not see why I cannot do everything I want to do within the context of Article 77.” The ruling was positive for the settlement parties – BofA, trustee Bank of New York and 22 ... Continue reading →

This article is provided to FT.com readers by Debtwire—the most informed news service available for financial professionals in fixed income markets across the world. www.debtwire.com -------------------------------------------------------------------------------- New York Supreme Court Judge Barbara Kapnick ruled Tuesday afternoon before a courtroom overflowing with attorneys that Bank of America’s USD 8.5bn settlement over 530 Countrywide residential mortgage bonds will not be restructured, Debtwire reports. While nodding to the objectors’ argument that this is an unprecedented case for Article 77, a rarely used New York statute typically reserved for family trusts, she said, “I do not see why I cannot do everything I want to do within the context of Article 77.” The ruling was positive for the settlement parties – BofA, trustee Bank of New York and 22 ... Continue reading →

Illustration by Sam SprattBy Helen A.S. Popkin"Between the death of Little Til, Herman Cain's dead rabbit ad, and the kidnapping of Miss Cooper, it's a bad time to be a bunny or bunny enthusiast," Gawker recently noted. Indeed, for lovers of all things lagomorph, it's best not to remember March at all. So, as we move forward to International Bunny Appreciation Day (which just so happens to coincide with Easter) this Sunday, let's cleanse our palates for April via this review of our very favorite bunny locations on the Internet. Cocoa-chan, the therapy rabbitCocoa-chan is featured in "Pray for Japan," a documentary about survivors of the 2011 Tōhoku earthquake and tsunami. Here’s how she’s described it on her Pray for Japan Facebook page: Pray for ... Continue reading →

This article is provided to FT.com readers by Debtwire—the most informed news service available for financial professionals in fixed income markets across the world. www.debtwire.com -------------------------------------------------------------------------------- Bank of America’s deal to settle liabilities associated with more than USD 400bn in soured mortgage bonds for USD 8.5bn is not out of the woods yet, two sources with knowledge of the matter told Debtwire ABS. New York State Supreme Court Judge Barbara Kapnick has agreed to hear opposition to the obscure legal provision favored by the bank to move the deal through quickly, the sources said. A hearing is set for 24 April. A group of mortgage investors and government entities are calling for greater transparency into how the deal was struck - and whether its terms ... Continue reading →

1758 George Washington's successful campaign for the Virginia House of Burgesses spends £39 on booze to "treat" voters on Election Day ($8,130 in 2011 dollars). 1800 Thomas Jefferson hires a writer to smear President John Adams as "mentally deranged" and a "hideous hermaphroditical character." Propagandist is imprisoned under the Sedition Act; Jefferson wins the election. 1829 President Andrew Jackson advocates rewarding loyalists with political office. Sen. William Marcy later notes approvingly, "To the victor belong th the spoils of the enemy." Thomas Nast/Harpers Weekly/Wikimedia 1867 In America's first federal campaign finance reform law, Congress makes it illegal to pressure workers at naval yards for political contributions. 1872 Railroad financier Jay Cooke gives $50,000 to the Republican Party—25 percent of its budget. A historian writes of ... Continue reading →

Jim Parsons is a hard-core geek—when it comes to theater, that is. The Emmy-winning star admits he needs to google many of the scientific and pop-culture references he spouts off as Sheldon Cooper on the CBS sitcom The Big Bang Theory, but the stage has always been second nature. Parsons studied acting at San Diego’s Old Globe theater and initially got his start working the Off Broadway circuit in New York. He made his Broadway debut last year in the Tony Award–winning revival of The Normal Heart, and he’ll return to his roots this May with a starring role in Roundabout Theatre’s revival of Mary Chase’s 1944 comedy, Harvey. Parsons will play Elwood P. Dowd, a grown man with an unusual imaginary friend. TONY quizzed ... Continue reading →

Stocks Return More With Democrat in White House: BGOV Barometer By Bob Drummond - Wed Feb 22 05:00:01 GMT 2012 Enlarge image Stocks Return More With Democrat in White House Applause breaks out at the New York Stock Exchange on Feb. 21, 2012 as the Dow Jones industrial average broke through the 13,000 barrier early Tuesday, the first time since May 2008 and closed just under that mark. Applause breaks out at the New York Stock Exchange on Feb. 21, 2012 as the Dow Jones industrial average broke through the 13,000 barrier early Tuesday, the first time since May 2008 and closed just under that mark. Photographer: John Moore/Getty Images While Republicans promote themselves as the friendliest party for Wall Street, stock investors do better ... Continue reading →

Politics Justice Department launches unit to probe mortgage-backed securities Published January 27, 2012 | Associated Press WASHINGTON – Federal and state law enforcement officials have launched a fraud-fighting initiative to root out wrongdoing in the market for residential mortgage-backed securities. Attorney General Eric Holder says that bringing full enforcement resources to bear will help expose abuses and hold violators accountable. Residential mortgage-backed securities are the huge investment packages of what turned out to be near-worthless mortgages that bankrupted many investors and contributed to the nation's financial crisis. New York Attorney General Eric Schneiderman is a co-chair of the initiative. He says the effort will link state and federal probes of the mortgage-backed securities bubble. The attorney general announced the effort Friday with federal and state ... Continue reading →

How times have changed in New York City! Extraordinary colour photographs reveal 1940s life in the Big Apple in all its glory Photos by Indiana snapper Charles Weever Cushman in 1941 and 1942Expensive colour Kodachrome was used to take impressive collectionMany buildings have since been demolished but some of them still stand By Mark DuellLast updated at 10:48 PM on 13th September 2011 It’s been 70 years since an Indiana photographer visited New York City and returned home with an amazing collection of holiday snaps.But Charles Weever Cushman’s pictures are even more impressive today, as they were taken on pricey colour Kodachrome and look far more recent than they actually are.He went around the city taking photos of architecture such as the Brooklyn Bridge and ... Continue reading →