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Big Banks

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.

Catherine New

Look What's Headed For Extinction

HuffingtonPost.com | Catherine New | Posted 06.11.2012 | Money

The local savings-and-loan bank -- a bastion of lending for homeowners -- is well on its way to becoming extinct, according to a report from a financ...

What To Expect When Jamie Dimon Goes To Washington This Week

Reuters | Posted 08.10.2012 | Business

* JPMorgan chief to appear before Senate on June 13 * Likely to be pressed on how much trading losses have grown * Testi...

Time for Fairness to Replace Recklessness on Wall Street

Rep. Tulsi Gabbard | Posted 08.08.2012 | Politics
Rep. Tulsi Gabbard

If I'm elected to represent Hawaii's Second Congressional District, I promise to support comprehensive banking reform that prevents banks from becoming too big and too precarious to ever again endanger our livelihoods as they did in 2008, and as they continue to do today.

Are Banking Reparations Justified?

D. Sidney Potter | Posted 06.08.2012 | Business
D. Sidney Potter

I love the smell of "banker repentance" in the morning. Case in point: One of the multi-billion-dollar settlements that's in the pipeline and simmerin...

Are Big Banks Dinosaurs?

Robert Teitelman | Posted 08.08.2012 | Business
Robert Teitelman

Henry Kaufman, Dr. Gloom from a distant age when Salomon Brothers was still King of Wall Street, penned an op-ed in the Wall Street Journa declaring that, sooner or later, the era of monstrous, too-big-to-fail banks will end.

Catherine New

SunTrust Customers Can Expect Higher Fees

HuffingtonPost.com | Catherine New | Posted 06.06.2012 | Money

Starting this summer, some of SunTrust's least wealthy customers will have to pay higher fees on everything from ATM withdrawals to checking accounts,...

Bill Clinton's Blind Spot

Mike Lux | Posted 08.04.2012 | Politics
Mike Lux

President Clinton, I hope you will see the error of your ways on this fundamental issue. Those middle-class people who work hard and play by the rules want you back on their side where you once were, not the side of the big banks.

Pity the Poor Billionaires

Bill Moyers | Posted 08.01.2012 | Politics
Bill Moyers

So-called "mega donors" are upset that their campaign contributions are being exposed to public view, ignoring our right to know who is giving money to candidates -- and the opportunity to try to figure out why. The sound you hear is the world's smallest violin, say, a teeny-tiny Stradivarius insured for millions.