Archive for January, 2012

Big banks must show break-up plans under new rule

January 22, 2012

The following is brought to you by FoxNews.Com WASHINGTON – The largest banks must show how they would break up their assets if they were in danger of failing, under a rule approved Tuesday. The Federal Deposit Insurance Corp. voted to require banks with $50 billion or more in assets to submit so-called living wills. […]

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Transcripts show Fed slow to see fallout from housing bust

January 22, 2012

The following is brought to you by Martin Crutsinger at USAToday.Com WASHINGTON – Ben Bernanke presided over his first meeting as Federal Reserve chairman in March 2006 believing the nation’s economy could pull off a “soft landing” from falling home prices. Three months later, Bernanke had begun to grasp that he and others had underestimated […]

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Chase ARM Class Action Lawsuit Highlighting Widespread Problem?

January 10, 2012

The following is brought to you by Dennis M. Kelleher at ClassAction.Org A class action lawsuit is pending in California against JPMorgan Chase Bank, N.A. (or Chase Home Finance, LLC.) for the improper setting of loan interest rates. The lawsuit alleges that JPMorgan Chase offered adjustable rate mortgages (“ARMs”) with specific conditions and then improperly […]

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Posted in Home Loan Modifications, Jamie Dimon, JPMorgan Chase | 1 Comment »

JPMorgan’s Jamie Dimon: I Won’t Feel Bad If We Lose $5B In Europe

January 10, 2012

The following is brought to you by Agustino Fontevecchia at Forbes.Com In a televised interview on Monday, JPMorgan Chase CEO Jamie Dimon said he sees housing prices bottoming out and a recovery beginning to take place in the U.S. while he insisted he wouldn’t mind losing $5 billion in peripheral Europe as long as his […]

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Montana farmers file class action lawsuit against MF Global

January 10, 2012

The following is brought to you by Rob Cheney at Missoulian.Com The MF Global financial trading scandal reached Missoula on Monday when a group of Montana farmers filed a class action lawsuit to recover money they claim was stolen from their personal accounts with the New Jersey firm. “When Jon Corzine bet the farm on […]

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