Financial upheaval produced war stories galore
The foreclosure epidemic has left a wake of carnage in the Indianapolis area.
Banking & Finance
Articles
High-end home market hits foreclosure lull
Until this year, Indiana’s foreclosure epidemic knew no demographic boundaries. But suddenly that’s changed. Since March,
not a single foreclosure on a house priced at $1 million or more has been filed in the Indianapolis area—a possible
sign of better times for uber-expensive homes.
SKARBECK: Financial overhaul law leaves much uncertainty
The public, to no surprise, is skeptical that the new regulations will succeed. A Bloomberg poll shows nearly four out of five Americans have little confidence the measures will prevent a crisis.
HICKS: What we can learn from forecasting blunders
It begs the question, just what should economists be expected to know and how should we explain it?
Local investors make big bet on senior housing
With the first baby boomers set to turn 65 in six months, investments in senior housing are heating up. A group of Indianapolis-area
professionals—including Mark Waterfill (left) and Tony Schantz—have banded together to launch three senior housing
projects around the state, spending $49 million and looking
to do more.
Historic financial overhaul signed into law by Obama
Rep. Mike Pence of Indiana, a member of the House GOP leadership, on Wednesday joined House Minority Leader John Boehner of
Ohio in calling for the law’s repeal.
Ex-Indiana University player Leary pleads guilty in fraud
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
Banker who wreaked havoc fesses up to felony charge
Overseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
HAUKE: Future of car stocks may be electrifying
At some point, fuel cells may answer the hype they’ve lived under the last 15 years.
HICKS: To spend or cut taxes, that is the question
The stimulus and array of bailouts have thus far done little to boost the economy. Neither is there good evidence they kept
things from getting worse.
Homes lost to foreclosure on track to top 1 million this year
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the
more than 900,000 homes repossessed in 2009.
Lugar, Meadows projects get tax credits
Two high-profile apartment projects that were denied tax-credit funding in March recently were awarded the millions of dollars in credits they need to proceed.
SKARBECK: Short-term sizzle can’t beat consistency
To achieve outsized returns, whether in mutual funds or individual stocks, investors must avoid the hype and reliance on past outperformance.
New Jersey names Indiana’s Walsh to head investment division
Timothy Walsh will take over a $68 billion pension fund, eight times larger than the $8.5 billion Indiana State Teachers Retirement
Fund he headed since 2008.
Secondary lender sues Chase over fire sale
Indiana Community Business Credit Corp. alleges breach of contract after JP Morgan Chase auctioned off assets of American
Sentry Guard of Greenwood.
Farmers Bank opening two branches in Hamilton County
Frankfort-based bank plans to open locations in Fishers and Noblesville as part of its plan to expand its presence in Hamilton
County.
Former loan officer charged with falsifying documents
Prosecutors say Robert Tolle falsified a construction progress inspection report while at Old National Bank. He faces a maximum
30-year prison sentence and $1 million fine.
Appraisers have little to go on in tough deal market
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values
aren’t uncommon.
Bond swaps cost city units $93M in penalties
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.
Vera Bradley files for $175M IPO
The 28-year-old company reported profit in its latest fiscal year of $43.2 million on $288.9 million in sales.