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Michael Burry’s Scion hedge fund disclosed holdings for first time in 2 years. There are some surprises. – WhaleWisdom Alpha

Michael Burry’s Scion hedge fund filed a 13F for the first time in over two years, disclosing several deep value investments. — Read on whalewisdomalpha.com/michael-burrys-scion-13f-holdings/ Advertisements

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The Regrets of Lewis Ranieri – WSJ

THIS is the DEEP STATE ass who set up the #HousingCrisis for them! HE IS THE REASON! The father of mortgage-backed securities lives with remorse for his role in a crisis that ‘did so much damage to so many people.’ — Read on www.wsj.com/articles/the-regrets-of-lewis-ranieri-1536240610

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District Court Orders Texas Company to Stop Selling Adulterated Food

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, August 30, 2019 A federal court permanently enjoined a Houston, Texas, company from processing and distributing adulterated seafood products in violation of federal law, the Department of Justice announced today.  The entered consent decree of permanent injunction follows an August 2019 complaint filed by […]

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Senate Republicans in Supreme Court letter accuse Dems of ‘assault’ on judiciary | Fox News

All 53 Republican senators joined together Thursday to call out their Democratic colleagues for what they described as a left-wing “assault” on judicial independence in reference to a recent brief they said amounted to a threat to pack the court. — Read on www.foxnews.com/politics/senate-republicans-warn-scotus-not-to-succumb-to-dem-threats-of-court-packing.amp

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Iranian Businessman Pleads Guilty to Conspiracy to Violate U.S. Sanctions by Exporting Carbon Fiber From the United States to Iran

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, August 29, 2019 Behzad Pourghannad pleaded guilty today to participating in a conspiracy to export carbon fiber from the United States to Iran between 2008 and 2013. “Pourghannad was in Iran while he worked to obtain carbon fiber from the United States contrary to […]

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Tennessee Health Care Executive Sentenced to Prison for Role In $4.6 Million Kickback Scheme

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, August 29, 2019 A Tennessee health care executive was sentenced to 42 months in prison yesterday for her role in a $4.6 million kickback scheme. Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, U.S. Attorney Don Cochran of the Middle […]

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DOJ inspector general says Comey violated policies

DOJ inspector general says Comey violated policies with memos documenting private conversations with Trump https://www.foxnews.com/politics/doj-inspector-general-says-comey-violated-policies-with-memos-documenting-private-conversations-with-trump Explore the Fox News apps that are right for you at http://www.foxnews.com/apps-products/index.html.

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Detroit Area Businessperson Pleads Guilty to Payroll Tax Crime

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, August 28, 2019 Also Admitted Failing to File Individual Income Tax Returns A Walled Lake, Michigan, businessperson, who owned a restaurant and an adult entertainment facility, pleaded guilty today to willful failure to pay over employment taxes and failure to file an individual income […]

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Former Operators of Michigan Adult Foster Care Homes Sentenced for Income and Employment Tax Crimes

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, August 28, 2019 The owners and operators of multiple Michigan adult foster care homes were sentenced today for federal tax crimes. Jeremiah Cheff was sentenced to 27 months in prison, and Nicolette Cheff was sentenced to two years of probation, announced Principal Deputy Assistant […]

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Third Point Funds to Pay $609,810 Civil Penalty and Be Subject to Injunction for Violating Antitrust Premerger Notification Requirements

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, August 28, 2019 The Justice Department announced today that it will require Third Point LLC and three funds it manages (Third Point Offshore Fund Ltd., Third Point Ultra Ltd., and Third Point Partners Qualified L.P.) to pay a $609,810 civil penalty and be subject […]

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Former CPA Indicted for Failing to Report Foreign Bank Accounts and Filing False Documents with the IRS

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Monday, August 26, 2019 A federal grand jury returned a superseding indictment charging Brian Booker, a former resident of Fort Lauderdale, Florida, whose business specialized in international trade, with failing to file Reports of Foreign Bank and Financial Accounts (FBARs) and filing false documents with […]

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North Carolina Office Manager Sentenced to Prison for Employment Tax Fraud

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, August 27, 2019 A New London, North Carolina, woman was sentenced to 14 months in prison today for federal employment tax fraud, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Matthew G.T. Martin for […]

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Former church chairman indicted in theft of $11.5 million in church money – Los Angeles Times

The former chairman of the board for the Fifth Church of Christ, Scientist, Los Angeles, has been indicted for stealing more than $11 million in church money. — Read on www.latimes.com/california/story/2019-08-26/former-church-chairman-indicted-in-theft-of-11-5-million-in-church-money

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Mortgage-Backed Securities

Mortgage-backed securities (MBS) are debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by a governmental, quasi-governmental, or private entity. The entity then issues securities that represent claims on […]

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Mortgage-Backed Security (MBS)

REVIEWED BY JULIA KAGAN  Updated Jul 16, 2019 What Is a Mortgage-Backed Security (MBS)? A mortgage-backed security (MBS) is an investment similar to a bond that is made up of a bundle of home loans bought from the banks that issued them. Investors in MBS receive periodic payments similar to bond coupon payments. The MBS is a […]

Banking & Securities Fraud Consumer Fraud Corporate Fraud Foreclosure Fraud Mortgage Fraud Our Daily News

Asset-Backed Credit Default Swap (ABCDS)

REVIEWED BY JAMES CHEN  Updated Apr 8, 2019 What is an Asset-Backed Credit Default Swap? An asset-backed credit default swap (ABCDS) is a credit default swap (CDS) wherein the reference asset is the asset-backed security rather than a corporate credit instrument. Understanding Asset-Backed Credit Default Swaps (ABCDS) Asset-backed credit default swap (ABCDS) agreements are similar to traditional credit […]

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Credit Default Swap (CDS) Definition

REVIEWED BY JUSTIN KUEPPER  Updated Apr 20, 2019 What is a Credit Default Swap (CDS)? A credit default swap (CDS) is a financial derivative or contract that allows an investor to “swap” or offset his or her credit risk with that of another investor. For example, if a lender is worried that a borrower is going to default on a loan, the lender […]