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 […]
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 […]
Detroit’s Financial Woes Have Michigan Political Elites Accepting Failure As The #1 Option “I see NOTHING! I know NOTHING!” -Sergeant Hans Schultz Since Detroit’s financial woes that have accumulated from 50 years of mismanagement and corruption caused it to officially file Chapter 9 bankruptcy last week every journalist and pundit has chimed in on the […]
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 […]
MI Governor Snyder Is Either An Inept Leader Or A Master Of The Machiavellian Arts By Picking Kevyn Orr Okay, I admit, I don’t have a business degree from Harvard, Yale or even Wharton Business School but I do know how to spot when someone is being set up as a fall guy or as […]
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