After Corruption Scandal Federal Reserve Says It May Start Enforcing Law

By: Tuesday October 21, 2014 9:16 am

In the aftermath of the exposure of the Federal Reserve collaborating with Goldman Sachs to prevent the bank from being accountable for breaking the law, Fed officials warned Wall Street that if banks did not cut back on reckless and criminal behavior they might finally face penalties including being broken up. The warnings were issued [...]

Eric Holder Stepping Down As Attorney General

By: Thursday September 25, 2014 9:56 am

Wall Street lawyer turned cabinet secretary Eric Holder is stepping down as Attorney General of the United States. Holder will resign as soon as his successor is confirmed according to National Public Radio which wrote a laudatory piece on Holder that included the news. Those who spoke to NPR told them it was Holder’s decision [...]

Eric Holder’s Legacy To Be Failing To Hold Wall Street Accountable

By: Tuesday July 1, 2014 11:26 am

Attorney General Eric Holder, appointed in the beginning of Barack Obama’s presidency, is beginning to have his legacy evaluated and it is not looking good. A creature of Wall Street who helped represent some of the culprits of the mortgage crisis in private practice, Holder never made an honest or substantive efforts to go after [...]

SEC Was Colluding With Banks On CDO Prosecutions

By: Monday April 14, 2014 10:38 am

As evidence has continually trickled out about the numerous criminally fraudulent activities Wall Street firms engaged in that led to the housing crash, increasing amounts of attention has been focused on regulators that seem to have given banksters a pass. When it came to disciplining finance capital, as one former Wall Street lawyer turned Attorney [...]

Public Interest Group Sues Justice Department Over JPMorgan Settlement

By: Monday February 10, 2014 11:09 am

As a high ranking JPMorgan official is being forced to step down from a CFTC advisory board it is being reported that Better Markets, a public interest group, is suing the Justice Department over its pathetic settlement with JPMorgan for fraud in the mortgage securities market. The DOJ settlement gives JPMorgan “blanket civil immunity”, a [...]

JPMorgan Agrees To Pay Billions For Causing Financial Crisis

By: Wednesday November 20, 2013 5:07 am

Yesterday the Justice Department announced a $13 billion settlement with JPMorgan over the megabank’s fraud in the mortgage backed security market that helped trigger a financial meltdown in 2008. The deal was completed after JPMorgan CEO Jamie Dimon summoned Attorney General Holder to a private meeting to avoid a press conference, the terms discussed at [...]

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 [...]

JPMorgan To Pay $13 Billion For Causing 2008 Financial Crisis

By: Monday October 21, 2013 8:02 am

The financial meltdown in 2008 was not the result of ethereal and enigmatic forces, it was the result of fraud in the financial markets. That truth was initially hidden by politicians, regulators, banks, and the bought priesthood of mainstream economics. But despite all the lies, the day of reckoning has finally arrived for one of [...]

U.S. and U.K. Regulators Say Too Big To Fail Banks Can Be Broken Up

By: Monday October 14, 2013 11:01 am

Under the Dodd-Frank Act banks that are “systemic threats” to the financial system or Too Big To Fail are supposed to be dismantled to avoid the necessity for taxpayer bailouts and subsidies. The law has a provision under Title I known as the “Financial Stability Act of 2010″ which created the Financial Stability Oversight Council [...]

JPMorgan Accused Of Manipulating Energy Markets

By: Tuesday July 30, 2013 12:00 pm

Too Big To Fail Megabank JPMorgan Chase is back on the government’s radar. The bank has been under investigation numerous times after taking a bailout during the 2008 financial crisis – most notably for the London Whale trade – and is now under scrutiny for its trading activities in the energy market. The accusation comes [...]

Treasury Secretary Lew Says Too Big To Fail Should Be Over By Year’s End

By: Thursday July 18, 2013 5:55 am

Citigroup alumn and current U.S. Treasury Secretary Jack Lew has claimed that if the ever looming threat of banking institutions that are so big their failure would bring down the economy is not eliminated by year’s end further actions will be needed. Too Big To Fail institutions are even bigger now than they were during [...]

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