Jack Reed takes it to the banks and their regulators
There’s been a surprising dearth of coverage in the local press of Jack Reed’s exemplary work last week, as he stuck it to the Office of the Comptroller of the Currency (OCC) alongside Sherrod Brown and Elizabeth Warren. Here’s a full transcript. Here’s the rub, from Dave Dayen at Salon: The vast majority of borrowers – [...]
Libor Scandal: Will Wall St. Get What It Deserves?
Just over a week ago, the British and American governments announced the largest fine in history levied against Barclays PLC, just under half a billion dollars. The fine agreed to ignore criminal charges against Barclays itself, but current and past employees were not exempt. Well, after a letter from Democratic lawmakers (including Rhode Island’s Sen. [...]
Lock-em-up-unless-they’re-bankers Kilmartin
Striking a vital blow against accountability, Attorney General Peter Kilmartin endorsed the “50-state” settlement on foreclosure fraud yesterday, led by the Iowa Attorney General, Tom Miller. The settlement essentially allows banks to skip away from the crimes they committed in the course of foreclosing on a few million people’s houses. To recap: this settlement has [...]
AG Kilmartin, Hold Wall Street Accountable for its Fraud
Dear Attorney General Kilmartin, Hold Wall Street Accountable for its Fraud The rule of law must be applied equally to all people. Yet, the most massive organized crime spree in history has not only gone unpunished, but has actually been rewarded with trillions of dollars of bailouts and interest free loans to the criminals responsible. [...]
Retail Stock Data Proves The Middle Class Is Imploding
A close analysis of stock market data is an excellent bellwether for determining the financial health of the middle class. Despite the meteoric rise of the market since its bottom in 2008, there are very negative omens for the middle class if one examines the market data more in depth. An analysis of stock prices and company performance in the [...]
Why do Big Banks care about Charter Schools?
Why Does JP MORGAN CHASE want to create a $325 million fund to invest in charter schools? Because they can make money off of them silly. JPMorgan Chase Creates $325 Million Funding Initiative For High-Performing Charter Schools$50 Million in Grants Crucial Amidst Challenging Credit Markets New York, May 4, 2010 – JPMorgan Chase announced today [...]
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