Goldman Sachs Gained Inside Information From New York Fed

By: Thursday November 20, 2014 8:22 am

Wealth of America's top 0.1% is about to exceed that of bottom 90% for first time since 1930s http://t.co/XiPh31bQjO pic.twitter.com/nasmFcsY5y — The Economist (@TheEconomist) November 10, 2014 Apparently that recent study showing banking culture is corrupt in essence is not so far off the mark as it has now been revealed that Goldman Sachs received [...]

SEC Official Supports Libya’s Claim Against Goldman Sachs

By: Tuesday October 7, 2014 7:41 am

Though Goldman Sachs has already admitted in court documents that it bribed officials working for Libya’s sovereign wealth fund, the claim brought by Libya concerning fraud remains contested. Libya’s sovereign wealth fund known as the Libyan Investment Authority (LIA) has accused Goldman Sachs of putting the fund in over $1 billion worth of high risk [...]

Prisoners Become Lucrative Market For Bankers

By: Friday October 3, 2014 10:10 am

Forget the ever-diminishing middle class, banksters have found a new target – prisoners. According to the Center For Public Integrity, prison bankers are collecting tens of millions of dollars in fees each year from inmate’s families for providing basic financial services. It turns out desperate family members trying to get money to imprisoned loved ones [...]

Retiring SEC Attorney Says Agency Fails To Hold Powerful Accountable

By: Wednesday April 9, 2014 6:10 am

A longtime trial attorney for the SEC had some brutal parting shots for the agency. Given as remarks at a goodbye party the attorney, James Kidney, condemned the SEC for letting the larger Wall Street firms get away with crimes. Essentially claiming that the SEC never went after the powerful. Kidney joined the SEC in 1986 [...]

Citigroup Fails Another Stress Test

By: Thursday March 27, 2014 9:00 am

Six years after the financial crisis Citigroup has failed a stress test by the Federal Reserve. Citigroup’s capital plan included a quintupling of its dividend but Fed regulators wanted the Too Big To Fail bank to hold onto more capital. The Fed noted that Citigroup had “multiple deficiencies” in how Citigroup projected potential losses and [...]

Federal Reserve May Continue To Promote Wall Street’s Expansion Into Commodities

By: Tuesday January 14, 2014 10:45 am

The destructive trend of financializing the US economy may continue if the Fed has their way. Despite complaints by companies in the real economy over the manipulation of commodity prices by the banksters on Wall Street, the Fed is set to punt on limiting Wall Streets invasion of the real economy. Wall Street has always [...]

European Union Reaches Settlement In LIBOR Case

By: Friday December 6, 2013 8:12 am

The European Union has reached a settlement with bankers on what may be the most far-reaching fraud case yet. The manipulation of the London Interbank Offered Rate (LIBOR) shocked the financial world as the LIBOR rate is used for financial products all over the globe and in many different markets from car and home loans [...]

Former Fed Reserve Official Comes Clean On QE, Apologizes To America

By: Tuesday November 12, 2013 7:56 am

The Federal Reserve’s massive subsidy to Wall Street known as “quantitative easing” or QE, was controversial from the beginning. Many have opposed the program for a variety of reasons from inflation fears to the fact that the program is socialism for the rich – giving hundreds of billions dollars to the 1% and giving nothing [...]

NY Fed President Says Wall Street ‘Lacks Respect For The Law’

By: Friday November 8, 2013 8:47 am

Is there anyone left who doesn’t think Wall Street has a culture of corruption? Even the President of the New York Federal Reserve William Dudley, a former Chief Economist at Goldman Sachs, has now critiqued Wall Street’s open contempt for the rule of law. Dudley claimed the banksters have displayed “deep-seated cultural and ethical failures.” [...]

JPMorgan And Citigroup Put Currency Dealers On Leave As Foreign Exchange Scandal Widens

By: Thursday October 31, 2013 7:51 am

Well, it’s been a few weeks, so are you ready for yet another major scandal from the financial sector? Ready or not here we go. Just as LIBOR starts working its way through the courts, a scandal within the massive foreign exchange or FX market is getting rolling. Much like LIBOR, which involved rigging a [...]

Taxpayers To Help Pay JPMorgan’s Fine For Causing 2008 Financial Crisis

By: Wednesday October 23, 2013 5:51 am

Feeling generous? You should because you are about to help pay for JPMorgan’s $13 billion fine for causing the 2008 financial crisis. According to tax experts the money JPMorgan will be paying to the government ($9 billion) and to wronged customers ($4 billion) can be written off as a “business expense.” In other words, JPMorgan [...]

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