Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it. According to an SEIU report: Derivatives . . . have turned …
Financial Reform Newsletter :Another week, another too-big-to-fail bank pays billions to settle yet more claims for fraudulent and illegal conduct for contributing to the 2008 financial crash.
Financial Reform Newsletter March 28, 2014 Another week, another too-big-to-fail bank pays billions to settle yet more claims for fraudulent and illegal conduct for contributing to the 2008 financial crash. It was announced this week that Bank of America is paying $6.3 billion (and buying back an additional $3.2 billion …
Others News: IT’S OFFICIAL: EUROPE’S YOUTH COUNTS TEN TIMES LESS THAN ITS BANKS
IT’S OFFICIAL: EUROPE’S YOUTH COUNTS TEN TIMES LESS THAN ITS BANKS Roberto Savio* Rome, July 2013 – At the last summit of European heads of state in Brussels at the end of June, the main theme was youth unemployment, which has now reached 23% of European youth (although it …
Teacher Taylor Chases Banker Diamond as Income Inequality Widens
Teacher Taylor Chases Banker Diamond as Income Inequality Widens 2012-05-08 23:02:14.142 GMT By Simon Clark May 9 (Bloomberg) — Bank security guards in London lock the doors when they see Liam Taylor coming. At a time of protests in March 2011, the secondary school teacher and a dozen others pushed …
Fed’s Fisher: Top 5 U.S. banks should be broken up
Fed’s Fisher: Top 5 U.S. banks should be broken up Wed Feb 29 19:02:19 UTC 2012 MEXICO CITY (Reuters) – The biggest five banks in the United States are too powerful and should be broken up, Dallas Fed President Richard Fisher said on Wednesday. The financial crisis has left the …
Pulling Back the Curtain on the Wall Street Money Machine
Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown December 7, 2011 http://WebofDebt.com/articles On November 27, Bloomberg News reported the results of its successful case to force the Federal Reserve to reveal the lending details of its 2008-09 bank bailout. Bloomberg reported that by March 2009, the …
Bill Black: #OccupyWallStreet A Counter to White-Collar Fraud
Broadcasting on the road from Kansas City, Missouri, we’re joined by William Black, a white-collar criminologist, former financial regulator, and author of “The Best Way to Rob a Bank is to Own One.” Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy …
Wall Street’s Global Race to the Bottom
by: Robert Reich, Robert Reich’s Blog | Op-Ed Wonder what’s happening with bank reform? Watch your wallets. Having created giant loopholes in the Dodd-Frank law recently passed by Congress (keeping “customized” derivatives underground, for example), fighting off attempts to cap the size of the biggest banks, and keeping capital requirements …