Huffington Post An obviously tired German bank employee fell asleep on his keyboard and accidentally transformed a minor transfer into a 222 million euro ($293 million) order, a court heard … [Read more...]
Why Isn’t The Detroit Emergency Financial Manager Doing This?
By 06.5.13
Alabama County Fights JPM-Chase & Gets Over 50% Taken Off Bond Debt “I got to get the politics lined up. And, of course, we have to pick the partners who are going to get free money … [Read more...]
Is The Federal Reserve Afraid Of A Little Healthy Competition?
By 06.1.13
Is the Government Trying to Kill Digital Currency? Rob Blackwell, American Banker The regulatory crackdown on Liberty Reserve is stoking fears that banks may soon begin severing … [Read more...]
Pulte Tells Detroit,”Frankly My Dear, I Don’t Give A Damn!” High Tails It To Atlanta
By 05.31.13
Brian O'Connor, Detroit News Thursday night’s reports that the PulteGroup Inc. — one of the nation’s largest home builders — will move its Bloomfield Hills headquarters to Atlanta surprised … [Read more...]
Why Organized Crime Has Become the Bankers’ Best Friend
By 05.29.13
"I saw you pouring your heart and soul into this business and getting nowhere. So I did what I could. I did what any loving husband would do! I reached out to some violent mobsters." -Homer … [Read more...]
Fannie and Freddie Stock Rockets To 3 Year High
By 05.27.13
Dan Freed, The Street Fannie Mae and Freddie Mac shares have more than doubled over the past 10 trading days on heavy volumes, adding to big gains posted in March after the shares had been dormant … [Read more...]
Banks’ Lobbyists Help In Drafting Financial Bills
By 05.26.13
ERIC LIPTON AND BEN PROTESS, NY Times Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial regulations. Instead, the lobbyists are helping to write it … [Read more...]
NY State Court Halts Judge Shopping Shenanigans In RMBS Fraud Cases
By 05.23.13
Teri Buhl, TeriBuhl.com Banks looking to judge shop in RMBS putback cases filed in New York State court are going to get shut out of the process. Apparently there are so many cases to litigate … [Read more...]
Is Japan The Next Detroit?
By 05.15.13
From The Testosterone Pit Unlike Detroit, which will run out of cash next month, Japan prints its own money, so bankruptcy in the Detroit sense is not in the cards. But they do have two things in … [Read more...]