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Zach Carter

Former Government Regulators Help Keep Banks Too Big To Fail

HuffingtonPost.com | Zach Carter | Posted 02.11.2013 | Politics

WASHINGTON -- The steady flow of officials from the Securities and Exchange Commission into top corporate jobs feeds a regulatory culture of weak law ...

Wall Street Gets Inventive With Bonuses

Fortune | Nin-Hai Tseng | Posted 02.07.2013 | Business

FORTUNE – As Wall Street bonus season comes into full swing, UBS AG is the latest bank doing things differently to reel in excessive pay. On Tuesday...

UBS Posts Major Loss On Scandals, Lawsuits

AP | JOHN HEILPRIN | Posted 04.07.2013 | Business

GENEVA — Switzerland's biggest bank, UBS AG, posted Tuesday a 1.9 billion francs ($2.1 billion) loss for the fourth quarter in the wake of a ser...

Different Rules for Plutocrats

Carl Gibson | Posted 03.24.2013 | Politics
Carl Gibson

While federal prosecutors sought to throw the book at a 26-year-old hacker who tried to distribute information for free, federal regulators are sitting on their thumbs when it comes to community drinking water supplies.

Investment Bank CEO: Lack Of Women Put Our Bank At Risk

The Huffington Post | Eleazar David Melendez | Posted 01.10.2013 | Business

The absence of female investment bankers within the upper echelons of UBS AG is one of the weaknesses that led to a culture of arrogance and fraud at ...

A Christmas Carol for Bankers

Brandon L. Garrett | Posted 02.23.2013 | Business
Brandon L. Garrett

With the help of three ghosts, Scrooge finally reached redemption by learning to give to others. As events of the past two weeks have shown, modern bankers have their own ghosts to face: federal prosecutors.

Banks and Persons

Christopher Brauchli | Posted 02.20.2013 | Business
Christopher Brauchli

It was just an unfortunate coincidence that the reports were almost juxtaposed -- the reports of the punishment given Stephanie George and that given HSBC and UBS. Stephanie, of course, was not the first.

Ain't Nobody Here But Us Honest Bankers

Brad Miller | Posted 02.20.2013 | Politics
Brad Miller

Maybe the Department of Justice and our financial regulators should not rely on internal investigations performed by the financial institutions suspected of misconduct.

Crony Capitalism's Power Couple

Robert Scheer | Posted 02.20.2013 | Business
Robert Scheer

Where is Phil Gramm hiding? The former Republican senator from Texas has not been heard from since his bank got nailed by the G-men. Or, as the Times put it, UBS now has the distinction of being "the first big global bank in more than two decades to have a subsidiary plead guilty to fraud."

Mark Gongloff

Massive Bank Settlement Breaks Taboo On Criminal Charges

HuffingtonPost.com | Mark Gongloff | Posted 12.19.2012 | Business

Even though it is not really surprising, the sheer scope and audacity of the market manipulation involved in the latest bank scandal still manages to ...

'I Will F***ing Do One Humongous Deal With You'

The Huffington Post | Mark Gongloff | Posted 12.19.2012 | Business

Science has determined that people need to know 7.5 things per day, on average, about the world of business. You can't argue with science. Lucky for y...

UBS To Pay $1.5 Billion To Settle Libor Charges

Reuters | Katharina Bart and Tom Miles | Posted 01.23.2014 | Business

ZURICH Dec 19 (Reuters) - Swiss bank UBS was hit with a $1.5 billion bill and admitted to fraud on Wednesday in order to settle charges of manipulat...

Stinks To Be UBS Right Now

Reuters | Posted 02.14.2013 | Business

* UBS already predicted Q4 loss over investment bank restructure * Chairman Axel Weber involved in trying to prevent conviction ...

UBS Unit Reportedly Close To Guilty Plea In Libor Scandal

Dealbook | BEN PROTESS AND MARK SCOTT | Posted 12.13.2012 | Business

Federal prosecutors are close to securing a guilty plea from a UBS subsidiary at the center of a global investigation into interest rate manipulation,...

More Bad News For UBS

Reuters | Posted 02.12.2013 | Business

(Replaces ninth paragraph to give detail on sum set aside for litigation, regulatory and similar matters, replacing detail on a broader measure of r...

The Libor Scandal Claims Its Latest Victim

Reuters | Posted 02.02.2013 | Business

* Settlement of rate rigging claims possible by yr-end * UBS says cooperating fully with investigations * UK rival Barcl...

Rogue Trader's Bank Fined For Allowing Him To Screw Up

AP | Posted 01.25.2013 | Business

LONDON (AP) — Britain's financial regulator has fined UBS AG for failures which allowed a rogue trader to lose $2.3 billion in the country's biggest...

Zach Carter

Wall Street 'Could Live With' Tax Hikes For Rich, Says Obama's Top Finance Ally

HuffingtonPost.com | Zach Carter | Posted 11.13.2012 | Politics

WASHINGTON -- Wall Street's hostility toward President Barack Obama has been playing out for years in the form of extreme rhetoric and lopsided campai...

Former Banker Admits He Helped Rich Americans Hide Money

Reuters | Posted 01.06.2013 | Business

Nov 6 (Reuters) - A former banker at giant Swiss financial institutions UBS AG and Credit Suisse Group AG pleaded guilty on Tuesday to helping weal...

Foreclosure Victim Sues Big Banks Over Libor Manipulation

The Huffington Post | Bonnie Kavoussi | Posted 10.15.2012 | Business

The enormous Libor scandal may have found the face of its victims. Annie Bell Adams, a pensioner who lost her home to foreclosure, and four other ...

JPMorgan, Six Other Banks Subpoenaed Over Libor Scandal

AP | MICHAEL VIRTANEN | Posted 08.16.2012 | Business

ALBANY, N.Y. -- The attorneys general of New York and Connecticut have issued subpoenas to seven banks over the possible manipulation of a global inte...

Bank Braces For 'Collapse Of The Monetary Union'

Reuters | Posted 10.09.2012 | Business

* Commerzbank Q2 net profit misses forecasts * Says FY loan loss provision target looks increasingly ambitious * Says g...

Facebook IPO Disaster Hits Big Bank

Reuters | Posted 09.29.2012 | Business

* Q2 net profit 425 mln Sfr vs 1.14 bln Sfr forecast * UBS hit by 349 million franc loss on Facebook IPO * Investment ba...

Big Bank Executives Alleged Helped Friends, Hurt U.S. Cities

Reuters | Basil Katz | Posted 09.29.2012 | Business

NEW YORK, July 30 (Reuters) - Three former UBS executives helped deceive U.S. cities and towns by operating a scheme to rig bids to invest municip...

'Ginormous' Libor Scandal: Bank Sues 16 Others Over Rate-Rigging

The Huffington Post | Alexander Eichler | Posted 07.30.2012 | Business

The Libor lawsuits keep piling up. Last week, New York-based Berkshire Bank filed a class-action suit against the 16 banks responsible for setting ...