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Big Banks

Sandy Weill: Too Little, Too Late

Charles Gasparino | Posted 09.24.2012 | Business
Charles Gasparino

Sandy Weill's Citigroup engaged in fraud on a massive scale, unfettered risk taking and then needed a massive taxpayer bailout during the 2008 financial crisis because it was so big it couldn't be managed. Yet only now does Weill say it was all a mistake.

Bailed-Out Banks Using Government Money To Pay Back Taxpayers

Reuters | Posted 09.23.2012 | Business

* 137 banks used other government program to repay bailout money * More than 200 bailed-out banks have missed dividend payments ...

Good Luck Finding An American Who Trusts Wall Street

AP | The Associated Press | Posted 07.24.2012 | Business

-- A survey finds fewer than one in four Americans trust the financial system and that confidence in large banks is eroding. The latest quarterly su...

The Surprising Reason Big Banks Are Getting More Complex

The Huffington Post | Bonnie Kavoussi | Posted 07.23.2012 | Business

On Wall Street, there's a benefit to developing into something big and complex. America's seven biggest banks now have more than 14,500 subsidiari...

UBS Doesn't Exactly Have A Great Track Record When It Comes To Scandals

The New York Times | JAMES B. STEWART | Posted 07.21.2012 | Business

As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record ...

Break Up the Big Banks and Hold Their Managers Accountable for Their Misdeeds

Allan Brawley | Posted 09.19.2012 | Money
Allan Brawley

The behavior of the largest banks is not only rapacious and destructive to the social fabric, it is also stunts economic growth. They are not investing the huge resources they have accumulated in ways that would stimulate the economy.

Guys, It's Okay To Buy JPMorgan Stock Because Jamie Dimon Is Doing It Too

AP | Posted 09.19.2012 | Business

NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon is boosting his stake in the bank by 360,000 shares. A regulatory filing Friday says D...

BofA Sets Aside Least Money To Cover Bad Loans Since Before Crisis

AP | CHRISTINA REXRODE | Posted 09.17.2012 | Business

Bank of America can't shake its mortgage headache. In a reminder that the consequences from the financial crisis are far from over, the bank said Wed...

Bad News For Goldman

AP | PALLAVI GOGOI | Posted 09.16.2012 | Business

NEW YORK — Another tough quarter, another reminder for Goldman Sachs that it's not just its reputation that's under attack. The once-mighty inv...

JPMorgan Allegedly Pushed 'Inflated, Hypothetical Returns' Of In-House Funds

Reuters | Posted 09.15.2012 | Business

* NY lawsuit says funds overpriced, underperforming * Says brokers got incentives to sell JPM funds * Case seeks class a...

Banks May Pay Big Time To Settle Scandal

Reuters | Posted 09.11.2012 | Business

July 12 (Reuters) - A group of 11 global banks linked to the Libor scandal may face $14 billion in regulatory and legal settlement costs through 201...

Having A Large Financial Sector Can Mess Up The Economy

The Huffington Post | Alexander Eichler | Posted 07.10.2012 | Business

That big ol' financial sector you got right there might be hurting you more than it's helping. You see, just because a country has a large financi...

'Opaque' Companies Contributed To Financial Crisis, Survey Finds

Reuters | Posted 09.08.2012 | Business

* Multinationals have improved transparency but much more still to do * Financial sector lags in providing information on operations ...

Too Big to Fail Banks Are Stopping You From Getting 5 Percent on Your Savings

Max Keiser | Posted 09.08.2012 | Business
Max Keiser

The banking lobby misrepresents the situation in two ways. First, they foster the belief that the economy needs lower rates to 'get going.' Second, the banking lobby likes to pretend that there is no alternative.

The Wall Street Scandal of All Scandals

Robert Reich | Posted 09.06.2012 | Business
Robert Reich

Just when you thought Wall Street had hit bottom, an even deeper level of public-be-damned greed and corruption is revealed. Sit down and hold on to your chair.

Big Banks Only Paying Homeowners For Certain Kinds Of Foreclosure Mistakes

Posted 07.04.2012 | Business

By Paul Kiel ProPublica Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it's $125,000. Or $60,...

How the Big Banks Lost and Homeowners Won in California

Rick Jacobs | Posted 09.02.2012 | Business
Rick Jacobs

Bills that looked very much like the Homeowner Bill of Rights had been introduced for four years. They died in committee or on the floor at various times, until now. The difference?

Big Banks Say They Can Be Broken Up Without Bailouts

Reuters | Posted 09.02.2012 | Business

* Fed, FDIC release public portions of living wills * Banks express confidence they can be resolved smoothly * Documents...

Ex-JPMorgan Broker: 'It Was All About The Money, Not The Client'

The Huffington Post | Alexander Eichler | Posted 07.03.2012 | Business

"It was all about the money, not the client." That's according to Warren Rockmacher, a former broker at JPMorgan Chase, as quoted in a recent New Y...

How Big Banks Run the World -- at Your Expense

Gar Alperovitz | Posted 08.26.2012 | Politics
Gar Alperovitz

Once you realize money must be and is regularly created and expanded, then the interesting questions begin to occur -- like "How is it done?" and "Who benefits from it?"

Big Bank's Staffers Join Twitter, And It's Even Less Exciting Than It Sounds

The Huffington Post | Alexander Eichler | Posted 06.25.2012 | Business

Morgan Stanley is coming to Twitter, albeit in a very controlled, scripted way. Morgan Stanley's 17,000 financial advisers will be joining Twitter ...

Want To Sue Your Bank? They May Ask You To Pay Their Legal Fees

The Huffington Post | Alexander Eichler | Posted 06.21.2012 | Business

At some banks, there's a nasty little piece of language buried in those terms-and-conditions agreements you have to sign. It says that if there are an...

Crowd-Source the Federal Reserve Bank Boards

Jonathan Reiss | Posted 08.14.2012 | Business
Jonathan Reiss

It's time for the Federal Reserve Banks to replace the old boy networks with computer networks. Their boards are supposed to have representatives of the public and specifically of consumers and labor but they complain they can't find many. Crowd-sourcing can address this problem.

Why Jamie Dimon Will Rebound

Rick Newman | Posted 08.14.2012 | Business
Rick Newman

By acknowledging that he screwed up, Dimon showed the kind of forthright accountability we should expect in all types of leaders. It may even make him a better CEO.

Democracy of the Banks, by the Banks, for the Banks

Sharan Burrow | Posted 08.12.2012 | Politics
Sharan Burrow

The global economic orthodoxy is being widely rejected by people who are pessimistic about the direction their country is taking. Most people have little faith that the lives of their children and future generations will be better off.