London Banker Pleads To Guilty Libor Rigging

Faces 10 Years In Prison For Libor Rigging From RT: A senior London banker has become the first person to be prosecuted for fixing the London interbank offered rate (Libor) or Libor rigging a scandal that resulted in billions worth of losses for savers as banks fraudulently boosted their profits. The banker, who has not been […]

Are Hedge Funds Here To Save The Day Like Mighty Mouse?

Hedge Funds Unlikely Saviors for New York-Area Homeowners Prashant Gopal, Bloomberg Louis Ragusa, who hasn’t paid his mortgage in two years, says he now has a chance to save his Blackwood, New Jersey, home from foreclosure after a hedge fund bought the loan. American Homeowner Preservation, a Chicago-based investment firm, purchased the mortgage for less than half […]

JPMorgan

JPMorgan Still Isn’t Sure What It Bought From The FDIC WaMu Fire Sale

JPMorgan Has No Idea What they Bought From The FDIC Matt Levine of Bloomberg wrote a great piece about how JPMorgan Chase has no idea what WaMu Assets They Bought From The FDIC You may have heard that the nation’s third largest bank is paying a lot of people billions of dollars to settle those […]

JPMorgan Chase

Why Isn’t The Detroit Emergency Financial Manager Doing This?

Why Isn’t The Detroit Emergency Financial Manager Fighting The Banks Like This Alabama County? JPMorgan Chase agreed to forgive $842 million of debt owed by Jefferson County, Alabama.  The new agreement follows a $722 million settlement in 2009 with the U.S. SEC related to the Jefferson County financing. So why isn’t the Detroit Emergency Financial […]

Why Isn’t The Detroit EFM Talking About Reclaiming The $5B Lost Because Of UBS LIBOR Manipulation?

Because Detroit’s New Lawyers Represent The Major Banks That Financially Raped Detroit   Detroit’s Emergency Financial Manager Kevyn Orr released his first 45 day report about the City of Detroit’s financial situation.  As you can imagine, the report doesn’t paint a very pretty picture for the city.   Although, disappointing, it really wasn’t a surprise […]

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