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 […]

HAMP

Homeowner Help Remains Elusive In $16.5B Bank of America Fine

David Dayan, UK Guardian The Justice Department has inked yet another cash settlement for misconduct in the production of mortgage-backed securities, this time with Bank of America for $16.65bn. Don’t expect a lot of that to be of any help to people who lost their homes. While Bank of America is ostensibly devoting around $7bn of […]

PA Judge Upholds Sale Of Widow’s Home Over $6 Tax Bill

Michael Winter, USA TODAY A Pennsylvania county judge has again ruled against a widow who lost her home because of an unpaid $6.30 interest charge for paying her school taxes late. Beaver County Common Pleas Judge Gus Kwidis ruled that Eileen Battisti, of Aliquippa, was properly notified about the September 2011 tax sale of her […]

Lee Farkas

Convicted Mortgage Fraudster Lee Farkas Wants His Mommy

Lee Farkas Says Prison Is Depressing And He Is So Lonely That He Feels Like A Zombie If you didn’t work in wholesale lending during the housing boom, you have probably never heard of Lee Farkas or his now defunct and disgraced company, Taylor, Bean and Whittaker who were a major player in wholesale lending. […]

Banks Could Still Blow Up The World

The Huffington Post  |  By Mark Gongloff Big banks are perfectly safe these days, unless you count all those weapons of mass financial destruction they’ve got lying around. And who’s counting those? Certainly not the banks. Some in Washington are doing a premature victory dance over the relatively gentle new regulations that have been applied to Wall Street since […]

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