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Big Banks

Rogue Trader Loses Swiss Bank $2 Billion

Posted 11.15.2011 | Business

Swiss bank UBS said a rogue trader had lost it $2 billion in unauthorized dealing, and police in London arrested a man in connection with the case...

Labor Dept.: Bank Of America Used 'Illegal Retaliatory Tactics' Against Worker

Posted 11.14.2011 | Business

WASHINGTON (Reuters) - Bank of America Corp must reinstate a Countrywide whistle-blower fired shortly after the two companies merged in 2008 and p...

The President's Story, and the Progressive Response

Mike Lux | Posted 11.09.2011 | Politics
Mike Lux

We should not let the fact that we are conflicted on the president's proposal slow down our willingness to take action to fight for what we believe in. We need to be strong and clear in what we are calling for, and fight for everything we believe in.

Major Banks Engineered Decade-Long Kickback Scheme, Investigators Say

American Banker | Jeff Horwitz | Posted 11.06.2011 | Business

Many of the country's largest banks received $6 billion in kickbacks from mortgage insurers over the course of a decade, according to a previously und...

U.S. Set To File Suits Against Big Banks Over Mortgages

Posted 11.01.2011 | Business

WASHINGTON - The agency that oversees mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresen...

LAPD Visits Artist Over Painting; Asks If He Is A 'Terrorist'

Posted 10.29.2011 | Arts

Los Angeles-based artist Alex Schaefer, 41, recently learned just how problematic it can be to have your work misinterpreted. A painting of his, whic...

AIG Repays $2.15 Billion Of Its Bailout Money

AP | By MARCY GORDON | Posted 10.18.2011 | Business

WASHINGTON -- American International Group Inc. has paid the federal government $2.15 billion this week after selling off a life insurance subsidiary,...

Friday Talking Points -- More Tea, Anyone?

Chris Weigant | Posted 10.05.2011 | Politics
Chris Weigant

With the conclusion of the debt ceiling "crisis," the media pivoted swiftly to their standard larger questions (to them, at any rate) about any politi...

Moody's: Consumer Protection Bureau Will Be Good For Banks

The Huffington Post | Alexander Eichler | Posted 09.25.2011 | Business

The Consumer Financial Protection Bureau, a central component of the financial reform legislation passed last year, opened for business on July 21. It...

Wells Fargo Agrees To Pay $125 Million To Investors In Mortgage Lawsuit

Posted 09.08.2011 | Business

(AP) NEW YORK -- Wells Fargo & Co. has agreed to pay $125 million to a group of pension funds and other investors to settle allegations the bank faile...

On Obama, Wall Street Shows A Reluctance To Commit

The New York Times | ANDREW ROSS SORKIN | Posted 08.27.2011 | Business

President Obama's $35,800-a-plate fund-raising dinner was the talk of Wall Street last week....

Global Regulators Agree To Impose Extra Capital Charge On Biggest Banks

Posted 08.25.2011 | Business

BASEL (Huw Jones) - Global banking regulators have agreed on a proposal to slap an extra capital charge on the world's biggest banks to make them ...

Americans Have Never Been More Distrustful Of Banks: Poll

The Huffington Post | Maxwell Strachan | Posted 08.24.2011 | Business

The recession might be officially over, but American views toward the institutions that brought the economic system close to collapse have never been ...

Swipe Fees: Didn't "Swipe" Used to Mean "Steal"?

Rick Horowitz | Posted 08.09.2011 | Comedy
Rick Horowitz

Burt Bottomline knows banking. And why shouldn't he? Burt Bottomline has been in banking -- Big Banking -- for years. He's one of Big Banking's big...

Taking on TARP

Dan Rather | Posted 08.08.2011 | Business
Dan Rather

"You can't look at what happened in the run-up to 2008 and see how it's not going to repeat itself, given what we've done," says Neil Barofksy, who became TARP's Special Inspector General in December, 2008.

Our Economy's Best Chance

Mike Lux | Posted 08.06.2011 | Politics
Mike Lux

Given the makeup of Congress, Obama has just one chance to dramatically improve the American economy before the 2012 election, and that is to move aggressively to revitalize the housing market.

Citigroup Shuts Down Hedge Fund Because Of Regulations

Posted 08.02.2011 | Business

Citigroup Inc (C.N) shut down a $400 million hedge fund that used the bank's money and mathematical models to bet on stocks, in the wake of new re...

Chris Kirkham

U.S. Settles With Two Firms Over Improper Military Foreclosures

HuffingtonPost.com | Chris Kirkham | Posted 07.26.2011 | Business

Amid blistering heat and thunderous bombing in central Iraq during summer 2005, U.S. Army Sgt. James Hurley suddenly found it difficult to reach his w...

Did Washington Connections Help Big Banks Get Bailouts?

Posted 07.25.2011 | Business

Did connections in Washington help major financial institutions get bailed out after the crisis? A new study from the National Bureau of Economic R...

Matt Taibbi: Wall St. Has No Incentive Not To Commit Crimes

Posted 07.23.2011 | Business

In a video interview with RT America, Rolling Stone's Matt Taibbi, the author of Griftopia, says that as of now, and until the government more aggress...

Simon Johnson: When Regulators Side With The Regulated

The New York Times | Simon Johnson | Posted 07.19.2011 | Business

The Office of the Comptroller of the Currency is one the most important bank regulators in the United States — an independent agency within the Trea...

What Kind of God Do Wall Street Bankers Believe In?

Mike Lux | Posted 07.19.2011 | Business
Mike Lux

There was a pretty amazing moment Tuesday when a JPMorgan shareholder said to CEO Jamie Dimon: "As a person of faith, my God believes you shouldn't take advantage of people when they are down. Do you believe in the same God I believe in?"

NY AG Investigating Big Banks' Mortgage Operations

Posted 07.17.2011 | Business

New York Attorney General Eric Schneiderman is investigating big banks like Bank of America Corp, Morgan Stanley and Goldman Sachs related to pack...

Matt Sledge

Payback: Could New York City Squeeze Big Banks For $120 Million?

HuffingtonPost.com | Matt Sledge | Posted 07.11.2011 | New York

A coalition of groups planning a coming rally against Wall Street bankers has hit upon an straightforward, if perhaps overly optimistic, solution for ...

Democrats and Wall Street

Mike Lux | Posted 07.06.2011 | Politics
Mike Lux

The Republicans in the Senate have thrown down the gauntlet: 44 Republican senators have signed a letter saying they won't confirm anyone to be the director of the new Consumer Financial Protection Bureau unless the new agency is made toothless.