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NJ Bureau of Securities Files Enforcement Action Against a Former VP of Real Estate Investment Firm that Defrauded $630M from Investors

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the staff of the Ridgewood blog

 Secaucus NJ, Attorney General Matthew J. Platkin announced today that the New Jersey Bureau of Securities (“Bureau”) within the Division of Consumer Affairs (“Division”) has filed a civil enforcement action against the former vice-president of a New Jersey-based real estate investment firm that defrauded investors nationwide who had invested $630 million in that firm.

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Wells Fargo Facing Discrimination Charges for Mortgage Loans

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the staff of the Ridgewood blog

Ridgewood NJ, Wells Fargo, once the largest mortgage lender in America, is facing accusations of discrimination linked to the industry’s widespread practice of providing mortgage loan discounts to specific borrowers, as reported by CNBC.

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Moody’s Downgrades Ratings of 10 U.S. Banks

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file photo by Boyd Loving

the staff of the Ridgewood blog

Ridgewood NJ, bank stocks continue to face a crisis of confidence , on Tuesday after Moody’s Investors Service announced it had downgraded 10 small and midsize American lenders, and that it may do the same with a handful of major firms. Higher funding costs, potential regulatory capital weaknesses and rising risks tied to commercial real estate are among the strains that prompted a review, Moody’s said.

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The Federal Reserve Implements Widely-expected 25 basis Point Hike

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the staff of the Ridgewood blog

Washington DC,  the Federal Reserve implemented a widely-expected 25 basis point hike, bringing interest rates to their highest level since 2001. Continuing in its quest to normalize interest rates and bring down inflation .

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Federal Reserve Announces New System for Instant Payments

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the staff of the Ridgewood blog

Ridgewood NJ, the Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.

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Nominal GDP Doesn’t Always Decline During an Inflationary Recession

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By Charles Stampul

Nominal GDP doesn’t always decline during an inflationary recession (i.e., stagflation) because the figure reflects both economic activity and price levels.

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Johnson & Johnson spin off Kenvue Consumer Brands Largest Initial Public Offering in More than a Year

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the staff of the Ridgewood blog

Summit NJ, Johnson & Johnson spun off its Kenvue consumer brands division on Thursday, raising the most cash from an initial public offering (IPO) in more than a year. Johnson & Johnson said it sold 172.8 million shares(opens in new tab) at $22 a pop in Kenvue, giving the company whose brands include Band-Aid, Tylenol and Listerine a valuation of roughly $40 billion.

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As Expected The Fed Adds a 1/4 of a Point

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the staff of the Ridgewood blog

Washington DC, the US Federal Reserve did what almost everyone expected  it would do, raising interest rates by a quarter percentage point and hinting it could be the final move in its tightening campaign. With a slight tweak to its language, the central bank signaled that the time to step back and watch may have finally arrived.

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Debt Ceiling: Secretary Yellen Says the Sky is Falling

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the staff of the Ridgewood blog

Ridgewood NJ, according to Quantitative Easing Janet Yellen ,and her media supporters , the sky is falling and there’s one month left for Republicans to relent on their refusal to raise the debt limit (so the US can pay its existing bills) unless the White House meets their demands (future cuts that will likely slash climate, education and social funding). Now, it turns out there may only be seven days left. President Joe Biden invited top congressional leaders for a meeting on the matter, but fear in markets has been rising for some time now, with yields on Treasury bills for early June soaring. Democrats are already looking at some radical options to keep the world’s largest economy from defaulting.

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Investing in China: The Top 5 Industries to Consider

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So what are the best industries to invest in China?

Despite the ongoing trade war, China’s growth and international investment have only increased. Looking into the future, experts predict that China will continue to climb in economic power.

Keep reading to learn more about what you should know if you’re investing in China.

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Inflation Still Hot but Continues to Decelerate

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the staff of the Ridgewood blog

Washington DC, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally adjusted basis, after increasing 0.4 percent in February, the U.S. Bureau of Labor Statistics reported today.

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Payroll Employment Rises by 236,000 in March; Unemployment Rate Unchanged at 3.5%

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the staff of the Ridgewood blog

Washington DC, (8:30 am)total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care. This news release presents statistics from two monthly surveys.

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First-Citizens Bank & Trust Company, of Raleigh, NC, to Assume All Deposits and Loans of Silicon Valley Bank

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the staff of the Ridgewood blog

Washington DC, the Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First-Citizens Bank & Trust Company, Raleigh, North Carolina.

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Hometown International Deli Securities Fraud Fugitive Arrested in Thailand and Returned to the United States

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the staff of the Ridgewood blog

Paulsboro NJ, a former North Carolina resident appeared in court after he was  arrested and returned to the United States from Phuket, Thailand, for his role in a large-scale market manipulation scheme related to two publicly traded companies, U.S. Attorney Philip R. Sellinger announced .

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Two-Thirds of Voters Expect SVB Bailout to Cost Taxpayers

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the staff of the Ridgewood blog

Ridgewood NJ, while administration officials insist the rescue of Silicon Valley Bank is not a “bailout,” most voters think taxpayers will be on the hook and wealthy investors will benefit.

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