Deutsche Bank Fined $2.5B For Scheming With Other Banks Deutsche Bank on Thursday became the latest big bank to settle accusations that it contributed to rigging Libor interest rates. The London Interbank Offered Rate, the interest rate of choice for trillions of dollars in municipal bonds, mortgages, student loans and other debt. To settle the […]
Deutsche Bank Fined $2.5B For Libor Rigging Read Post »
Quicken Loans Faces Losing Billions Of Dollars If Found Liable Under False Claims Act Detroit-based Quicken Loans has been sued by the DOJ today under the False Claims Act. The DOJ alleges that Quicken bullied appraisers to receive higher values for applicants. They also allege underwriting managers encouraged underwriters to “fudge” the incomes of hundreds
US DOJ Sues Quicken Loans Under False Claims Act Read Post »
Wall Street Banks screwed major American cities like Chicago A few weeks ago, Ed Walker at Naked Capitalism wrote a piece about a white paper Saqib Bhatti of the Roosevelt Institute wrote last year detailing how Wall Street Banks screwed major American cities out of much needed cash. Bhatti claimed that cities are getting squeezed because
Is Chicago Going To Be The Next Detroit? Read Post »
As Winter Arrives, One Group Could Save The Iron Throne From Plunging Further Into Chaos It seems the incestuous Queen Regent of the Iron Throne knows more about wine and sexually pleasing her brother than she does about economics. Cersei Lannister’s leadership is driving the economy of the Seven Kingdoms toward a fiscal cliff. This
The Iron Throne Is Heading Toward The Fiscal Cliff Read Post »
Elizabeth Warren And Wall Street Banks Esculate War of Words Last week, Bank of America, Citigroup, J.P. Morgan and Goldman Sachs held a secret meeting discussing the possibility of withholding campaign contributions to Democrats in key races next year because of Massachusetts Senator Elizabeth Warren’s push for stricter financial reform and for several banks
Elizabeth Warren To Wall Street Thugs, “Bring It On, Bitches!” Read Post »
