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Deutsche Bank faces action over $20bn Russian money-laundering scheme
Exclusive: in confidential internal report seen by the Guardian, bank says scandal has hurt global brand
bankMalfeasance  corruption  win 
april 2019 by joeybaker
Whistleblower Vindicated Massive Trading Firm Knight Capital Charged With Abusing “Naked Shorts”
Back in September, I wrote a seven-part series at The Intercept chronicling how former Wall Street trader Chris DiIorio, determined to figure out how he lost a small fortune on a penny stock, came to
bankMalfeasance  governmentIncompetence  corporateCorruption  corporateIndemnity 
december 2016 by joeybaker
Regulators taking another look at costs of Wall Street safety rule
WASHINGTON/NEW YORK Just as memories of the financial crisis are fading and tough new banking regulations are beginning to bite, some current and former regulators wonder whether one of the rules is
bankMalfeasance 
october 2016 by joeybaker
The new rule that could save the US from billions in bailouts
The US has taken another step out of the bailout business. And despite warnings from Wall Street, all is calm. Well, unless you run a “prime” money market fund, which invests in assets other than the
bankMalfeasance  governmentIncompetence  bankIncompetence  win 
october 2016 by joeybaker
Turning Up Like a Bad Penny
One summer day in 2012, Chris DiIorio pulled up outside a home that Colorado Goldfields Inc., a mining company in Littleton, Colorado, listed as the home address of its chief financial officer,
bankMalfeasance 
september 2016 by joeybaker
Why Wells Fargo’s Executives Will Keep Their Bonuses, Even After Fake Accounts Scandal
Last week, Wells Fargo CEO John Stumpf testified before the Senate Banking Committee after the bank paid fines for creating over two million fake customer accounts to boost their sales growth
governmentIncompetence  bankMalfeasance  plutocracy  governmentRevolvingDoor 
september 2016 by joeybaker
Calling the SEC
Chris DiIorio suspected major broker-dealer Knight Capital of tanking penny stocks on purpose and racking up massive, unsustainable balance-sheet liabilities based on all the stocks it
governmentIncompetence  corruption  bankMalfeasance 
september 2016 by joeybaker
Wells Fargo fired the whistleblowers who reported massive fraud, and that's a crime
CNN Money has found multiple whistleblowers from Wells Fargo who were willing to go on the record and report that they were fired in retaliation for coming forward to report the massive fraud in
governmentIncompetence  corporateLies  policeIncompetence  corporateCorruption  corporateIndemnity  bankMalfeasance  bankIncompetence 
september 2016 by joeybaker
Wells Fargo Fined for Years of Harm to Customers
Wells Fargo employees opened roughly 1.5 million bank accounts and applied for 565,000 credit cards that may not have been authorized by their customers, regulators said. For years, Wells Fargo
bankMalfeasance  corporateLies  bankIncompetence  corporateIncompetence  corporateIndemnity  corporateCorruption 
september 2016 by joeybaker
Deutsche Bank’s $10-Billion Scandal
Almost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank
governmentIncompetence  bankMalfeasance  corruption  globalization  corporateCorruption 
august 2016 by joeybaker
Why the Government is Getting Fed Up with Wall Street All Over Again
Democrats and Republicans agreed on almost nothing at their conventions except this: Both party platforms signaled support for resurrecting a version of the Depression-era Glass-Steagall law, a move
governmentMalfeasance  governmentIncompetence  corporateLies  corporateIncompetence  bankMalfeasance  corporateIndemnity 
august 2016 by joeybaker
Hillary Clinton Talks Tough on Shadow Banking, But Blackstone Is Celebrating at the DNC
Blackstone, the giant Wall Street private equity firm, will hold an invitation-only reception before the final night of the Democratic National Convention in Philadelphia. The event, at the swanky
bankMalfeasance  plutocracy 
august 2016 by joeybaker
Ireland jails three top bankers over 2008 banking meltdown | Reuters
DUBLIN Three of Ireland's former bank executives were sentenced on Friday to between two and three-and-a-half years in prison on charges they conspired to defraud investors, in the highest-profile
corporateLies  win  corporateCorruption  corporateIndemnity  corruption  corporateIncompetence  judicialStupidity  bankMalfeasance 
july 2016 by joeybaker
Eric Holder’s Longtime Excuse for Not Prosecuting Banks Just Crashed and Burned
Eric Holder has long insisted that he tried really hard when he was attorney general to make criminal cases against big banks in the wake of the 2007 financial crisis. His excuse, which he made again
bankMalfeasance  governmentIncompetence  plutocracy  governmentLies  corruption  judicialStupidity 
july 2016 by joeybaker
Foreclosure Fraud Is Supposed to Be a Thing of the Past, But It Happens Every Day
Every day in America, people continue to be kicked out of their homes based on false documents. The settlements over allegations of robo-signing, faulty paperwork, and illegal mortgage servicing
bankMalfeasance  judicialStupidity  governmentIncompetence 
may 2016 by joeybaker
Seven big banks settle U.S. rate-rigging lawsuit for $324 million
NEW YORK Seven of the world's biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives
governmentIncompetence  bankMalfeasance 
may 2016 by joeybaker
Panama Papers: all the revelations so far
The leak of 11.5m files from the Panama-based law firm Mossack Fonseca continues to create upheaval around the world. The documents were leaked to the German daily S
bankMalfeasance  corruption  plutocracy 
april 2016 by joeybaker
Brazil prosecutors charge billionaire Safra in bribery scheme | Reuters
BRASILIA/SAO PAULO Brazilian prosecutors on Thursday charged Joseph Safra, the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving
bankMalfeasance  corporateCorruption  corruption 
april 2016 by joeybaker
A storm is coming
The interrogation room in which Iceland
bankMalfeasance  corruption  plutocracy 
april 2016 by joeybaker
Kashkari takes on Wall Street from farm-rich Fed region
From his seat atop the Fed's smallest bank, in a region known for fracking, farming and ranching, Neel Kashkari wants to make sure he's heard well beyond the northern plains.Since becoming president
bankMalfeasance  governmentIncompetence  plutocracy  governmentLies  win  oligarchy 
april 2016 by joeybaker
High Court Asks Administration to Weigh in on Predatory Lending Case
A Supreme Court order this week forces the Obama Administration to make a decision: either save consumers tens of billions of dollars at the expense of debt collectors, car loan specialists, and
bankMalfeasance  casteingTheLowerClass 
march 2016 by joeybaker
America's universities: Hedge funds saddled with inconvenient educational institutions
Public and private universities alike have been transformed into financial shell-games for Wall Street's wealthiest hedge-funds, while tuition and student debt soar, adjuncts are exploited, and the
bankMalfeasance  collegiateCartel  plutocracy 
march 2016 by joeybaker
Mervyn King: new financial crisis is 'certain' without reform of banks
Your 2016 reminder that we never really fixed the cause of the 2008 crash. Also, crashes happen on 8~15 year cycles.
governmentIncompetence  bankMalfeasance  economics  globalization 
february 2016 by joeybaker
Siding With Foreclosure Victim, California Court Exposes Law Enforcement Failure
The California Supreme Court on Thursday ruled unanimously in favor of a fraudulently foreclosed-upon homeowner in a case that should serve as a wake-up call to state and federal prosecutors that
bankMalfeasance  casteingTheLowerClass  judicialStupidity  corporateIndemnity 
february 2016 by joeybaker
Elizabeth Warren Catches Investment Advisors Fibbing
Companies that provide investment advice have been vigorously fighting a proposed Department of Labor rule that would formally require investment advisors for retirement plans to operate in the best
bankMalfeasance  corporateIndemnity  corporateCorruption 
february 2016 by joeybaker
Vanguard's Low Blow
Near the end of last month, mutual-fund giant Vanguard announced that it had lowered the expense ratios on 35 of its mutual funds. That
win  bankMalfeasance 
february 2016 by joeybaker
Goldman Sachs, bank at center of global financial crisis, questions capitalism
In a new note from analysts at Goldman Sachs, the bank analyzes elevated corporate profit margins, which have been
corporateLies  bankMalfeasance  corporateIncompetence  corporateCorruption  corporateIndemnity 
february 2016 by joeybaker
Founder of Liberty Reserve Pleads Guilty to Laundering More Than $250 Million through His Digital Currency Business | OPA | Department of Justice
The founder of Liberty Reserve, a virtual currency once used by cybercriminals around the world to launder the proceeds of their illegal activity, pleaded guilty today to running a massive money
win  judicialStupidity  bankMalfeasance 
february 2016 by joeybaker
Goldman Sachs and a Sale Gone Horribly Awry
Janet and Jim Baker at home. They are fighting Goldman Sachs over its work in 2000 on the all-stock sale of their business, Dragon Systems, to a company that later collapsed, leaving them shut out.
corporateLies  bankMalfeasance  corporateIncompetence  corporateCorruption  corporateIndemnity  notSiliconValley 
january 2016 by joeybaker
N.Y. Governor Hands Top Wall Street Regulatory Job to a Defender of Wall Street
New York Governor Andrew Cuomo on Thursday handed a critically important bank regulatory position to a longtime donor and corporate lawyer who defended financial institutions in private practice.
corruptedPolitics  bankMalfeasance  governmentRevolvingDoor 
january 2016 by joeybaker
Goldman Sachs Will Pay $5 Billion To Settle Financial-Crisis Claims
i Goldman Sachs will pay about $5 billion to resolve state and federal investigations into its handling of mortgage-backed securities in the years leading u
governmentIncompetence  governmentMalfeasance  bankMalfeasance 
january 2016 by joeybaker
Ex-Obama Aide Known As “Hedge Funds’ Secret Weapon” Assails Bernie Sanders’ Wall Street Overhaul
In response to a plan that Bernie Sanders offered this week to break up Wall Street banks, former top Obama economic adviser Austan Goolsbee took to Twitter to criticize the Vermont senator for
corporateIndemnity  bankMalfeasance  governmentRevolvingDoor 
january 2016 by joeybaker
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