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Big Banks

More Than One-Third Of Layoffs At One Big Bank To Hit NYC

Posted 12.27.2011 | Business

More than one-third of job cuts at Morgan Stanley will likely hit workers in New York City. Nearly 600 of the 1,600 job cuts that Morgan Stanley a...

With Metlife Deal, GE Takes On $7.5 Billion In Consumer Banking Deposits

Posted 12.27.2011 | Business

(BEN BERKOWITZ and TANYA AGRAWAL, Reuters) - General Electric Co jumped into the retail deposits business on Tuesday, buying the online bank fro...

Blood on the Street

James Berman | Posted 02.21.2012 | Business
James Berman

Today's market confronts multiple macro pressures: a euro debt crisis, a feeble global economy and social unrest in many parts of the world. But as a ...

Alexander Eichler

Bloomberg Releases Most Detailed Description Yet Of Federal Reserve Emergency Loans | Alexander Eichler | Posted 12.23.2011 | Business

Add up the emergency loans the Federal Reserve distributed to banks between 2007 and 2009 -- when the American economy lurched closer to collapse than...

Fed Proposes Tougher New Rules For Biggest Banks

AP | PALLAVI GOGOI | Posted 02.19.2012 | Business

NEW YORK — The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to ...

BofA Shares Dip Below $5 For The First Time Since March 2009

Posted 12.19.2011 | Business

Shares of Bank of America Corp traded below $5 on Monday for the first time since the depths of the current bear market in March 2009. The sto...

Fitch: Only Eight Banks Are Candidates For Government Bailout

AP | Posted 12.16.2011 | Business

NEW YORK -- Fitch Ratings says U.S. government financial support for banks is declining and argues that future bailouts will likely be restricted to j...

Report: SEC Wants To Appeal Blocked Citi Settlement

Posted 12.15.2011 | Business

Enforcement staff of the Securities and Exchange Commission may request the commissioners leading the agency that they appeal last month's reject...

Big Banks Rank Among The Most LGBT-Friendly Workplaces

Posted 12.10.2011 | Business

They may be vilified for debit card fees and shoddy mortgage loans, but big banks are among the most LGBT-friendly places to work, a new study finds. ...

Zombie Banks: A New York Story in Three Parts

Jim Luce | Posted 02.08.2012 | Business
Jim Luce

I spoke to Yalman Onaran about his insightful Zombie Banks. Everyone is afraid that the world economy is about to go into a second recession, I asked him. Why are we heading in that direction?

Wells Fargo To Pay Big To Settle Bid Rigging Case

AP | PALLAVI GOGOI | Posted 02.07.2012 | Business

Wells Fargo will pay $148.2 million to settle federal and state charges that it rigged dozens of bidding competitions to win business from cities and ...

Jamie Dimon Blasts 'Rich Is Bad' Rhetoric

AP | Posted 02.06.2012 | Business

NEW YORK — Jamie Dimon, the CEO of JPMorgan Chase & Co., is railing against bashing the rich. Dimon was responding Wednesday to a question at a...

2012 and the Big Banks

Mike Lux | Posted 02.04.2012 | Politics
Mike Lux

The president needs something big to establish his cred as tough on Wall Street. But fortunately, the thing he needs is right in front of him: the settlement talks with the bankers.

Is Your Bank One Of The Biggest 'Climate Killers'?

Posted 12.02.2011 | Green

Are big banks financing climate change? A new study detailing big banks' lending to the coal industry over the past six years says yes. "Bankrollin...

Arthur Delaney

AG Accuses Major U.S. Banks Of Deceptive Foreclosure Practices | Arthur Delaney | Posted 01.31.2012 | Business

WASHINGTON -- Massachusetts Attorney General Martha Coakley is suing five of the nation's biggest banks for deceptive foreclosure and mortgage modific...

The Federal Reserve: Helping the Rich Get Richer

Monika Mitchell | Posted 01.30.2012 | Business
Monika Mitchell

How is it possible in a democratic republic that the Federal Reserve spends trillions of our dollars without our permission, indebts us for generations to come without even a vote by Congress?

Secret Fed Loans Gave Banks Billions

Bloomberg | By Bob Ivry, Bradley Keoun and Phil Kuntz | Posted 11.27.2011 | Business

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of...

FDIC: Banks Take Home Most Money In Four Years

AP | DEREK KRAVITZ | Posted 01.22.2012 | Business

WASHINGTON — Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the ...

Bank Lobbying On Track To Hit Record High This Year

Posted 11.21.2011 | Business

Big banks are on track to spend a record amount lobbying lawmakers this year. The five banks that spend the most on lobbying have boosted their lo...

Big Banks Slated To Lose Billions In Customer Cash Over Next Year: Report

Posted 11.21.2011 | Business

Big bank interest in netting a profit on the backs of customers may end up backfiring. The top 10 retail banks are projected to lose $185 billion ...

Jason Cherkis

Lobbying Firm Memo Expresses Angst Over Occupy Wall Street | Jason Cherkis | Posted 11.23.2011 | Politics

WASHINGTON -- A lobbying firm has prepared a memo offering advice to its Wall Street clients to help them manage any political fallout from Occupy Wal...

Ex-UBS Banker Gets Five Years In Prison For Aiding U.S. Tax Evasion

Posted 11.18.2011 | Business

A former senior UBS banker who helped the U.S. government expand its crackdown on offshore tax evasion was sentenced to five years probation Frida...

WATCH: Funny Or Die Says 'Thanks, Bank Of America'

Posted 11.17.2011 | Comedy

It's not about doing the right thing all the time; it's about occasionally not doing the worst thing possible. That's the premise of Funny Or Die's...

Jason Linkins

Bank Of America Thought He Was A Good Idea | Jason Linkins | Posted 01.17.2012 | Business

What's a beleaguered Bank of America to do? Well, it could make a company-wide commitment to offering better customer service and undertake a systemic reform of its business practices. Or, it could hire Malcolm Gladwell as a shill and put him in front of small-business owners!

Anti-Democratic Technocrats Proposed for Greek and Italian Debt Crises

Raymond Griffith | Posted 01.15.2012 | Business
Raymond Griffith

I was listening to NPR the other day. One item in the news struck me as particularly worrisome. The Greek debt crisis is prompting some worrying ide...