Financial news on September 25, 2010

Business and Financial news
A Billionaire Army of One vs. a Bank

The investor Len Blavatnik is fighting in court to get back some of the money he lost because of what he calls bank negligence. Read more..

By JOE NOCERA - The New York Times

Avoid Legal Pitfalls When Buying Art

Art advisers warn that the bulk of lawsuits brought against art owners aren’t usually related to theft or Nazi-era looting, but more traditional liens and encumbrances. Read more..

By PAUL SULLIVAN - The New York Times

Citigroup’s Pandit Takes $1 in Compensation for 2010

Richard D. Parsons, Citigroup’s chairman, said the board would restore Vikram S. Pandit’s compensation to a level comparable to that of other banking chiefs in 2011. Read more..

By ERIC DASH - The New York Times

GMAC’s Errors Leave Foreclosures in Question

The lender’s admission that it had filed dubious foreclosure documents could inspire a broad legal furor against hasty foreclosures. Read more..

By DAVID STREITFELD - The New York Times

Judge Accepts Citigroup’s Settlement With S.E.C.

The $75 million settlement involved the bank’s failure to adequately disclose its exposure to subprime mortgage debt. Read more..

By EDWARD WYATT - The New York Times

Leaving a Childhood Room Behind, and Much More

As children go off to college, their parents consider what to do with their room. Read more..

By ALINA TUGEND - The New York Times

Recessions and Recoveries Are Not All the Same

The recession that ended in June 2009 was the longest downturn since World War II, and the deepest in terms of decline in gross domestic product. Read more..

By FLOYD NORRIS - The New York Times

Signs of Stability Help Extend September’s Rally

Traders were encouraged that orders for manufactured goods (excluding the transportation sector) rose sharply last month. Read more..

By CHRISTINE HAUSER - The New York Times

Yale Endowment Gained 8.9% Last Year

The endowment lagged behind many of the other big funds, including Harvard’s, which had a 11 percent gain for the year. Read more..

By GERALDINE FABRIKANT - The New York Times

See what else happened on September 25, 2010