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Chris Hedges
$10.20
By Bill Boyarsky
$19.60
$22
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mahalie (CC BY-SA 2.0)
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By Ellen Brown, Web of Debt —
With taxpayer bailouts no longer an option, a major derivatives crisis could transfer money currently held by state and local governments and citizens—secured and unsecured, insured and uninsured—into the hands of derivative claimants.
Posted on Apr 10, 2013
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Randy Le'Moine Photography (CC BY-ND 2.0)
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While profits tripled and layoffs commenced in the banking industry last year, Wall Street divided at least $20 billion in gifts made of cash and stock among its employees.
Posted on Feb 26, 2013
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Caitlinator (CC BY 2.0)
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By Henry A. Giroux, Truthout —
When asked if criminal charges should be brought against a number of people in the Penn State scandal, including former university President Graham Spanier, lead investigator Louis J. Freeh said that decision wasn’t up to him, confirming that justice in America works primarily for the rich and powerful and against the poor, marginalized and young.
Posted on Jul 14, 2012
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JPMorgan Chase’s losses from its hedge-managers-gone-wild in London could go as high as $7 billion. Too big to manage? And Bain becomes Mitt Romney’s bane once again.
Posted on Jul 13, 2012
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Yves Smith, creator and editor of the finance blog Naked Capitalism, and Matt Taibbi of Rolling Stone spoke with Bill Moyers about the continuing fallout of the economic crisis and the corruption, ignorance and collusion that guarantee the situation will not improve for most Americans.
Posted on Jun 26, 2012
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DonkeyHotey (CC BY-SA 2.0)
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By Ellen Brown, Web of Debt —
JPMorgan Chase is the biggest campaign donor to many of the members of the Senate Banking Committee who were charged with investigating the bank’s CEO, Jamie Dimon, in mid June.
Posted on Jun 21, 2012
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Thomas Frank, one of the country’s leading elegists of American representative democracy and a columnist for Harper’s Magazine, has spent his career chronicling the nation’s descent into plutocracy. This week he sang against the forces of free-market dominion on Bill Moyers’ television show.
Posted on Jun 19, 2012
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longislandwins (CC BY 2.0)
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By Cora Currier, ProPublica —
Through campaign contributions and well-connected staff, JP Morgan has a few friends on the Senate banking committee.
Posted on Jun 16, 2012
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deneyterrio (CC BY 2.0)
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Mark Zuckerberg’s fortune dropped $2 billion Monday as shares of Facebook tumbled to $34.03, 11 percent below their initial public offering price of $38. The loss prompted analysts and buyers to wonder whether the company was overvalued at the $105 billion it gained on the day of its IPO.
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Pat Bagley, Cagle Cartoons, Salt Lake Tribune —
Posted on May 19, 2012
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scott*eric (CC BY 2.0)
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By Cora Currier, ProPublica —
The hedge fund Magnetar helped create billions of dollars’ worth of collateralized debt obligations that super-charged the financial meltdown, profited the company enormously and for which it’s seen no punishment. Here’s a roundup of the known charges, settlements, and investigations that stem from those deals.
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University of Missouri-Kansas City professor, author and former financial regulator William Black explains what’s wacky about JPMorgan Chase’s version of events that led to the firm’s $2 billion loss in the derivatives market last week.
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President Obama says he thinks gay marriage should be legal, but isn’t looking to legislate. JPMorgan Chase, the “best of the banks,” loses a $2 billion bet and reignites the debate over bank regulation. The French election has austerity hawks worrying about a resocialized euro, and Indiana Sen. Richard Lugar’s primary loss could usher in a new era of ideological warfare.
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swanksalot (CC BY-SA 2.0)
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JPMorgan Chase & Co. weathered the 2008 financial crisis without reporting a loss. But a failed hedging strategy that recently cost the company $2 billion has called into question the ability of its leaders to manage risk and intensified the debate on banking reform.
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HA! Designs - Artbyheather (CC-BY)
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Bank of America: $11.9 billion; JPMorgan: $5.44 billion; Wells Fargo: $4.35 billion. These are the fines the banks have paid so far in settlements to the government for wrongdoing amid the financial crisis.
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Sasha Y. Kimel (CC-BY)
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Saturday is the day 80,000 people have pledged to punish “too big to fail” banks by moving their money to credit unions and local community institutions. How does it work? Will banks feel the hurt? How can it be done quickly and conveniently? Josh Harkinson at Mother Jones answers these questions and more.
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Flickr / ILRI
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American universities are reportedly using endowment funds to buy and lease vast tracts of African farmland, often for piddling prices, in deals that will reward foreign investors handsomely while separating tens of thousands from their homes and farms and providing little or none of the economic benefits promised them, California researchers say.
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Flickr / respres Some rights reserved
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Investigators at the United States Trustee Program, which oversees U.S. bankruptcy cases, are collecting mountains of evidence that show that banks industrywide are hurrying huge numbers of borrowers out of their homes prematurely, based on false loan repayment claims. (more)
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Bank of America has been cleared by the U.S. government to repay the $45 billion in TARP funds it received last year at the height of the banking crisis, and BofA may be preparing to do so before 2009 comes to a close. That said, it’s not a foregone conclusion that the transaction will take place this month, even though the company has some built-in motivation to quickly make good on its payback promise.
Posted on Dec 2, 2009
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AP photo / Paul Sancya
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By Michael D. Intriligator — Considering only two options for an imperiled General Motors —either bailout by the U.S. government or bankruptcy—omits an important alternative, which I see as the best option: a takeover of GM by Toyota Motor Corp.
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wamu.com
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JPMorgan Chase added to its failed financial behemoth collection by gobbling up the deposits of Washington Mutual, which set a record for the biggest U.S. bank failure Thursday. According to the FDIC and Chase, bank customers have nothing to worry about.
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Terracide and the Terrarists: Destroying the Planet for Record Profits
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