Thursday, October 6, 2011

Atlantic International Partnership Madrid Local News and Latest Events

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The Royal Bank of Scotland says it will vigorously defend itself against US government claims it misrepresented the quality of mortgages it sold.
The US Federal Housing Finance Agency (FHFA) has filed lawsuits against 17 banks, including RBS, Barclays and HSBC, over mortgage-based investments.
Values plunged during the financial crisis and a bailout of mortgage firms cost US taxpayers billions of dollars.
RBS says it has “substantial” legal and factual defences to the US claims.
A spokesman said: “We believe we have substantial and credible legal and factual defences to these claims and will defend them vigorously.”
HSBC and Barclays declined to comment to the BBC on the legal action.
‘Improper actions’
Goldman Sachs, Bank of America, Deutsche Bank, Nomura, Citigroup, and Societe Generale are among the other banks facing legal action from the FHFA.
BBC business correspondent Joe Lynam says it is believed the financial institutions are being sued for a sum in the tens of billions.
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Atlantic International Partnership Financial and Investment Articles

http://altlanticinternationalpartnership.net/2011/06/atlantic-international-partnership-headlinesgroupon-founders-turn-to-financial-news-with-benzinga-investment/



In their latest investment through a separate seed fund, two Groupon founders are turning their attention towards a new area: financial news.

Benzinga.com
Lightbank, the seed fund created by Eric Lefkofsky and Brad Keywell, is investing $1.5 million in Benzinga.com, a Michigan-based real-time financial news site with trading tips, as well as aggregated content from other sites such as TheStreet.com and WSJ.com, parent site of this blog.
“We like the proposition of an actionable trading information network, and we like the entrepreneurs behind Benzinga,” said Lightbank partner Paul Lee, who joined the fund earlier this year. “We think there has to be a certain brand connotation with these kinds of sites and we see that in Benzinga’s founder.”

Mr. Lee is referring to Jason Raznick, president and co-founder of Benzinga.com, a former associate at Fortress Investment Group and financial news writer who says he bootstrapped his way through the first five months of Benzinga.com.
The site, which launched in early 2010, offers mostly free financial news content as well as a variety of subcription products targeted at traders. Mr. Raznick says the site sees between two and three million page views a month and that the company is already cash flow positive, with the bulk of its revenue coming from advertising.
“I think our site is different from other sites because we’re not saying, go do this in the market, or go buy that stock. We’re offering analysis and saying, if you believe this, here are some ways to do it,” Mr. Raznick says. He says he plans to continue to grow the company, which currently has between 20 and 25 employees, and that future build-outs may include more video products on the Web site.
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Atlantic International Partnership Article Reviews

http://www.facebook.com/pages/Atlantic-International-Partnership-Article-Reviews/210854385602305


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