[youtube]http://www.youtube.com/watch?v=aaDh1kdltLc[/youtube] JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case. A government list of previously [...]
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Also tagged Banking, Bear Stearns, CDR Financial Products, Citigroup, Co-conspirators, Collusion, Courts, DOJ, Financial Sector, JPMorgan Chase, Law, Lehman Brothers Holdings, Manhattan, Municipal Bonds, Salomon Smith Barney, Societe Generale, UBS AG, Wall Street
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Hassan Nemazee, 60, who once ran a private equity firm, admitted in Manhattan federal court to defrauding Bank of America Corp of more than $142 million, Citigroup Inc of $74.9 million and HSBC Holdings Plc of $74.9 million to pay his debt to Citigroup. [...] Nemazee was listed as one of the top “bundlers” of [...]
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Also tagged Barack Obama, Bundlers, Campaign Finance, Citigroup, Courts, Crime, Democrats, Fraud, Hassan Nemazee, Hillary Clinton, HSBC Holdings
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As of July 1, the Federal Reserve will require that banks obtain a customer’s consent before they can charge them overdraft fees for A.T.M. transactions and debit purchases; many banks now automatically enroll customers. In anticipation of the new Fed rule, some banks have begun marketing campaigns to encourage their customers to opt in to [...]
[youtube]http://www.youtube.com/watch?v=eSnnMgMBTp8[/youtube] You’ve heard plenty about the big banks’ role in the Great Recession, but their headaches are about to get worse. At a packed hearing today, the Senate investigations subcommittee led by Sen. Carl Levin (D-MI) shed new light on banks’ negligence and wrongdoing—and this time it’s not credit-default swaps or derivatives but money laundering and arms [...]
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Also tagged Angola, Bailouts, Banking, Carl Levin, Citibank, Corporatism, Corruption, Crime, Financial Sector, Great Recession, HSBC, Lobbyists, Money Laundering, Senate, Shell Corporations
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Thursday, February 4, 2010
[youtube]http://www.youtube.com/watch?v=dkAxuqrVNBM[/youtube] In the grand tradition of his predecessor Eliot Spitzer, New York State Attorney General Andrew Cuomo is generating tons of publicity by whacking Wall Street with a big fat stick. But even if you are predisposed to dismiss the civil fraud suit his office filed Thursday against former Bank of America CEO Kenneth Lewis and former [...]
Thursday, February 4, 2010
The 325-page report by the Permanent Subcommittee on Investigations, which will conduct a hearing on Thursday, sheds new light on how banks like Citigroup, Wachovia and Bank of America unwittingly shifted hundreds of millions of dollars on behalf of African politicians, their relatives and associates. The banks ended up closing or restricting the accounts and [...]
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Also tagged Bailouts, Banking, Carl Levin, Citigroup, Corporatism, Corruption, Financial Sector, Fraud, Money Laundering, PEP, Regulation, Shell Corporations, Wachovia
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Wednesday, November 25, 2009
The nation’s bankers have much to be thankful for as they sit down to their turkey dinners on Thursday. At this time last year, the American financial system was near collapse, rescued only by hundreds of billions of taxpayer dollars. Now the system has stabilized, and the industry is on the verge of a coup [...]
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Also tagged AFSA, Alan Grayson, Bailouts, Banking, Barney Frank, Bill Hempler, Bob Corker, CFPA, Chris Stinebert, Christopher Dodd, Citigroup, Congressional Black Caucus, Consumer Protection, Evan Bayh, Financial Sector, Goldman Sachs, JP Morgan Chase, Lobbyists, Michael Bennet, Reform, Regulation, Richard Shelby, Ron Paul, TARP, Tim Johnson, Wells Fargo
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