The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants

Video on Why The Federal Government Is Suing The Banks

15 Responses

1. Pat, on February 19, 2012 at 3:04 PM said:

   On Government Sonsored Enterprises

   GSEs, like Freddie Mac and Fannie Mae, must go.

   Pat

   LikeLike
2. Jerome, on February 20, 2012 at 11:27 AM said:

   Across the Pond

   News reports say that some executives of Lloyds Banking Group will have some of their past bonuses taken away because the bank needs to make up for big losses incurred on payment protection insurance.

   http://www.msnbc.msn.com/id/46452047

   Fitting, hey!

   Jerome

   LikeLike
3. Denice, on February 24, 2012 at 10:28 PM said:

   Are Banks Colluding with Insurers to Rip Off Homeowners as Lawsuit Alleges?

   A class action lawsuit against Wells Fargo and QBE Insurance sheds light on how homeowners may have been forced to buy more than $50 million in insurance premiums.

   http://www.propublica.org/article/banks-colluding-with-insurers-to-rip-off-homeowners-lawsuit-alleges

   So, it’s not just the government!

   Denice

   LikeLike
4. Cleveland, on March 4, 2012 at 1:28 PM said:

   Fed Shrugged Off Warnings, Let Banks Pay Shareholders Billions

   According to Jesse Eisinger, in late 2010, a major regulator warned the Federal Reserve that Banks were not healthy enough to increase dividends, and the economy could implode again.

   But, in its biggest decision since the financial crisis, the Fed overrode that advice and let banks return more than $30 billion to shareholders.

   Here’s the inside story from ProPubica.

   http://www.propublica.org/article/fed-shrugged-off-warning-let-banks-pay-shareholders-billions

   Cleveland

   LikeLike
5. Wesley, on March 13, 2012 at 10:24 AM said:

   Feds promise tough oversight in mortgage deal
   [But, banks will not be forced to admit to the accusations laid out in the complaint]

   The government just released the fine print of its landmark $25 billion mortgage settlement, and promised to closely police the banks’ pledges to bring widespread housing relief, even while letting them dodge admission of wrongdoing.

   Any comments?

   Wesley

   LikeLike
6. Kirk, on May 17, 2012 at 10:05 AM said:

   What Did JPMorgan Execs Know and When Did They Know It?

   When banks are in trouble, they often mislead the world about their financials.

   http://www.propublica.org/thetrade/item/what-did-jpmorgan-execs-know-and-when-did-they-know-it

   Maybe JPMorgan disclosed everything properly about its $2 billion loss, but that’s what we need to determine.

   Kirk

   LikeLike
7. Charles, on May 17, 2012 at 7:16 PM said:

   JPMorgan Shareholders Sue Dimon Over $2 Billion Trading Loss

   JPMorgan Chase & Co. shareholders just sued the bank and Chief Executive Officer Jamie Dimon in two separate cases over the company’s $2 billion trading loss.

   http://www.fa-mag.com/fa-news/10995-jpmorgan-shareholders-sue-dimon-over-2-billion-trading-loss.html

   Kirk – The estimated losses are now reported at three billion dollars. So, is Jamie about to go?

   Charles

   LikeLike
8. Pablo, on May 21, 2012 at 4:06 PM said:

   Mr. Dimon Goes to Washington

   To testify, of course!

   http://www.politico.com/news/stories/0512/76454.html

   Pablo

   LikeLike
9. Wesley, on June 5, 2012 at 2:05 PM said:

   How Bank of America Execs Hid Losses-In Their Own Words

   A new suit reveals how Bank of America knew about big losses at Merrill Lynch before the companies merged but didn’t tell shareholders.

   http://www.propublica.org/article/how-bank-of-america-execs-hid-losses-in-their-own-words

   Any thoughts?

   Wesley

   LikeLike
10. Stan, on June 14, 2012 at 10:46 AM said:

    Two Related Essays

    Incoming Regulator Promises No More Coddling of Banks

    In his first interview, new O.C.C. head John Curry shows he knows what’s wrong with the agency. But can he fix it?

    http://www.propublica.org/thetrade/item/incoming-regulator-promises-no-more-coddling-of-banks

    Charting the Cozy Connections between JP Morgan and the Senate Banking Committee

    Jamie Dimon, CEO of JP Morgan Chase, testified today about the bank’s recent losses. He should be familiar with the committee. Lots of his employees worked for it.

    http://www.propublica.org/article/charting-the-cozy-connections-between-jp-morgan-and-the-senate-banking-comm

    Stan

    LikeLike
11. Corey, on June 21, 2012 at 10:50 AM said:

    Banking Fee Disputes

    New consumer data hint at the stingiest, and most generous banks.

    http://redtape.msnbc.msn.com/_news/2012/06/21/12323328-fee-disputes-new-consumer-data-hint-at-the-stingiest-most-generous-banks?lite

    Corey

    LikeLike
12. Jeeves, on May 19, 2014 at 9:00 PM said:

    Credit Suisse to plead guilty to criminal charges in US tax evasion scheme

    Switzerland’s second-biggest bank will become the first bank in more than a decade to admit to a crime in the US, as regulators are expected to impose $2.5-Billion Dollar fine.

    http://www.theguardian.com/business/2014/may/19/credit-suisse-plead-guilty-criminal-charges-us-tax-evasion

    Jeeves

    LikeLike
13. Wesley, on July 14, 2014 at 2:17 PM said:

    The Nailed Banks

    Citigroup is the second major bank to settle with authorities since President Barack Obama ordered the formation of a task force to investigate the sale and packaging of toxic home loans that were at the center of the 2008 financial crisis.

    JPMorgan Chase & Co, the largest U.S. bank, last year agreed to pay $13 billion to settle government probes over the packaging of toxic mortgages.

    Bank of America Corp has also been negotiating with the Justice Department over similar claims.

    Wesley

    LikeLike
14. Jimmy, on September 27, 2014 at 11:20 AM said:

    Inside the New York Fed: Secret Recordings and a Culture Clash

    According to Jake Bernstein, a confidential report and a fired examiner’s hidden recorder penetrate the cloistered world of Wall Street’s top regulator — and its history of deference to banks.

    http://www.propublica.org/article/carmen-segarras-secret-recordings-from-inside-new-york-fed?utm_source=et&utm_medium=email&utm_campaign=dailynewsletter

    AKA – How the Fed protects banks?

    Jimmy

    LikeLike
15. Wesley, on November 11, 2014 at 4:42 PM said:

    Suit Accuses Banks of Role in Financing Terror Attacks

    The banks — HSBC, Barclays, Standard Chartered, the Royal Bank of Scotland and Credit Suisse, European institutions that all have a major presence in New York — did not deal directly with the militants.

    http://www.msn.com/en-us/news/money/suit-accuses-banks-of-role-in-financing-terror-attacks/ar-AA7wAKr

    But, they have acknowledged transferring billions of dollars on behalf of Iran, which has long been suspected of funding and training the terrorist groups that carried out attacks against Americans in Iraq.

    Wesley

    LikeLike