Category Archives: by financial institutions

William Black, Top Bank Fraud Expert: ALL of the Big Banks’ Profits Come from FRAUD. watch

Mark Karlin, Big Bank CEOs Get the Benefit of Fraud Without the Accountability. read

Yves Smith, Deutsche Bank Unlikely to Get Much of a Break From the DoJ’s $14 Billion Mortgage Fine Target. read

William Black, Top Bank Fraud Expert: ALL of the Big Banks’ Profits Come from FRAUD. watch

Mark Karlin, Big Bank CEOs Get the Benefit of Fraud Without the Accountability. read

Yves Smith, Deutsche Bank Unlikely to Get Much of a Break From the DoJ’s $14 Billion Mortgage Fine Target. read

Pam Martens and Russ Martens: Wall Street’s Protection Racket: Mandatory Arbitration. “A Federal agency, the Consumer Financial Protection Bureau (CFPB), proposed in May that financial institutions be forced to stop banning class action lawsuits through their mandatory arbitration agreements and that they submit arbitration filings and awards to the CFPB as a monitoring agency.” read

Ed Caesar: DEUTSCHE BANK’S $10-BILLION SCANDAL How a scheme to help Russians secretly funnel money offshore unravelled. read

First senior bankers jailed for 2008 collapse! (in Ireland). read

Citigroup going heavily into derivatives. read

New DoJ/NY investigations of Panama Papers. read

New book on costs of high finance. read

Citigroup has more derivatives than 4701 other banks. read

David Dayen on Holder’s “excuse” for not prosecuting bankers. “The report — the result of a three-year investigation — shows that aggressive attorneys did want to prosecute HSBC, but Holder overruled them.” Final irony: “Jennifer Shasky, the AFMLS Chief who requested the prosecution of HSBC but was overruled, recently resigned as the head of the Financial Crimes Enforcement Network to become a senior compliance officer with HSBC.” read

Teresa Tritch: Collecting debts on dubious foreclosures. read

Gretchen Morgenson on her new book on the mortgage crisis. read

Gretchen Morgenson on failures to force transparency on private equits. read

Walter Einenkel: 5 banks being sued for bond price manipulations since 2005. read

Harvey Rosenfeld on the unconditional bailouts of Wall Street (17 min). watch

Appeals court reinstates suit against 16 banks for Libor manipulations. read

Sen. Warren’s success. Labor Dept. puts new rules on suppliers of retirement advice. “No more pushing products that generate financial benefits for advisers, while draining the customer’s savings.” read

5 Big Banks criticized for plans for any future crisis. “But the Fed’s move, while consequential, is certain to make almost no-one unhappy.” read

Nathaniel Popper: Goldman Sachs may save $1B. read

Jesse Eisinger on SEC emails showing why bankers haven’t been prosecuted. read

Deirdre Fulton on Goldman Sachs settlement: The penalty was swiftly denounced as a “non-punishment, non-accountability ritual that will do nothing to stop the Wall Street crime spree.” read

Dennis Bernstein: Hillary/Obama’s Panama “free trade” facilitated the current money-laundering scandal. read

Robert Reich on why financial speculations remain untaxed. read

Matt Taibbi on Eric Holder’s bad record as AG.”It’s one of the biggest quid pro quo deals in the history of government service. ….Obama, a brilliant lawyer and wordsmith, was not saying that all of the behavior leading to the crash was legal. He merely said that some of the worst behavior wasn’t illegal. Which is true. Meaningless, but true…..So why was it OK for the nation’s top cop to make fraud or money laundering a tax-subsidized activity? ….You’ve heard of victimless crimes; Holder created the victimless punishment.” read

Deutsche Bank pleads gully to manipulating gold/silver prices — and will name other banks. read

Murgan Stanley to pay S3.2 B for its role in 2008 mortgage crisis. read

Neel Kashkari, Minneapolis Fed President, calls for transformative economy, regulating banks. Symposia are planned. read