Tag Archive

Citigroup Creator Weill Says It’s Time for Banks to Be Broken Up

Published on August 2, 2012 By admin

The following article is brought to you by Donal Griffin and Christine Harper of Bloomberg at SFGate.com. July 26 (Bloomberg) — Sanford “Sandy” Weill, whose creation of Citigroup Inc. ushered in the era of U.S. banking conglomerates a decade before the financial crisis, said it’s time to break up the largest banks to avoid more […]

Platinum Citizenship

Published on October 21, 2011 By admin

The following article is brought to you by Dylan Ratigan at HuffingtonPost.Com. About a decade ago, I read an article in The Onion,”U.S. Offers PlatinumPlus Preferred Citizenship”. Apparently, Tim Geithner did too, because from 2007-2011, this is the policy framework that he designed and executed, first as President of the New York Federal Reserve, and […]

Occupy Wall Street Can Put Creative Accounting on List of Grievances

Published on October 21, 2011 By admin

The following article is brought to you by Gary Weiss at The Street.Com. NEW YORK (TheStreet) — “The whole world is watching!” is the battle cry of the Occupy Wall Street demonstrators, usually heard when New York’s Finest decide that the maintenance of law and order requires arrests (or socking some guy in the jaw). […]

Mortgage Debacle Costs Banks $66 Billion as Suits Sap Profit

Published on September 17, 2011 By admin

The following article is brought to you by James Sterngold at BusinessWeek.Com. Faulty mortgages and foreclosure abuses have cost the nation’s five biggest home lenders at least $65.7 billion, according to a tally by Bloomberg News, and new claims may push the industry wide total to twice that amount. Bank of America Corp., the largest […]

Banks May Fight Banks as Mortgage Securities Investors Seek Class Status

Published on September 10, 2011 By admin

The following is brought to you by Thom Weidlich at Bloomberg.Com. Bank of America Corp. (BAC), JPMorgan Chase & Co. (JPM) and other banks may pay more to resolve claims over their alleged roles in the collapse of a $2.3 trillion mortgage- backed securities market if sophisticated investors are allowed to sue as a group […]