News

Fed Rules on Turning Foreclosures into Rentals

The Federal Reserve took steps to encourage banks to turn more of their foreclosed homes into rental properties in new policy guidelines issued on Thursday that could help lessen the flood of distressed property sales that is depressing prices.

Ukrainian Billionaire Takes Over 14 Wall Street

Ukrainian billionaire Alex Rovt has stepped in to pay off the loans on landmark office building 14 Wall Street, leaving former co-owner Capstone Equities as manager and leasing agent and former co-owner Carlyle Group LP out of the deal, a source familiar with the deal said on Thursday.

Morgan Stanley CEO Took Home $13 Mln in 2011

Morgan Stanley Chief Executive James Gorman took home compensation totaling $13 million in 2011, down 14.5 percent from 2010, in contrast to the increases enjoyed by other big Wall Street CEOs.