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Tag: Jp Morgan Chase

Free-Market Accountability

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Posted on Jan 28, 2014 READ MORE



Recuerdos de Pandora (CC BY-SA 2.0)

J.P. Morgan—The Man and the Bank

From his earliest days in high finance, J.P. Morgan was a hustler who often traded on the shady side. The bank that survives in his name inherited his pattern of committing multiple crimes and walking away scot-free. The latest? Getting shareholders to pay a banker’s $1 billion fine.

Posted on Oct 18, 2013 READ MORE



AP/Evan Vucci

Obama’s Friends in Low Places

If you still require to be disabused of Obama’s pretend populism, consider his close ties to Wall Street’s more rotten executives.

Posted on Sep 24, 2013 READ MORE



Image via Shutterstock

U.S. Banks Rake In Record $40.3 Billion in Quarter

Business is clearly good again for the financial institutions that were rescued by American taxpayers just a few short years ago. Thanks in part to increased revenue from customer fees, U.S. banks’ profits soared to a record high for the first quarter of 2013, the Federal Deposit Insurance Corp. reported Wednesday.

Posted on May 29, 2013 READ MORE



Flickr/Thomas Hawk

Big Banks Have Found Another Way to Rip You Off

Meet the major banks’ newest partner: payday lenders, the owners of those check cashing stores that offer short-term loans with interest rates that sometimes exceed 500 percent.

Posted on Feb 24, 2013 READ MORE



Photo by Taber Andrew Bain (CC-BY)

Foreclosure Settlement Ends Investigation Into Banks

Homeowner advocates and some lawmakers are upset that an $8.5 billion settlement with JPMorgan Chase, Bank of America, Wells Fargo and other banks over improper foreclosures would let lenders off the hook both financially and legally.

Posted on Jan 7, 2013 READ MORE



jonasclemens (CC BY 2.0)

1,200 New Coal Power Plants Planned Worldwide

Despite warnings from scientists and environmental groups that global warming will be unstoppable if carbon emissions do not peak within a few years, 59 countries, led by China and India, are planning to expand their coal-powered energy sources.

Posted on Nov 20, 2012 READ MORE



AP/Scott Applewhite

Truthdigger of the Week: Ex-TARP Investigator Neil Barofsky

In late 2008, Neil Barofsky was appointed the Treasury Department’s investigator of the bank bailouts. In the time since, he has suffered dismissal and deprecation from his colleagues and the corporations they’re supposed to regulate.

Posted on Aug 4, 2012 READ MORE



kullez (CC BY 2.0)

To Catch a Bankster

Traditional investigations by regulators of all the suspect hanky-panky in the banking industry have produced nothing in the way of fundamental reform and protected the worst repeat offenders. So why not bribe big bankers to turn one another in?

Posted on Jul 21, 2012 READ MORE



Robin Hood Tax USA (CC BY 2.0)

Petition Demands Dimon Be Fired From Fed Board

On Monday, economist Simon Johnson presented officials at the Federal Reserve with a petition containing 38,000 signatures appealing for the removal of JPMorgan Chase CEO Jamie Dimon from the Federal Reserve Board of Governors.

Posted on Jun 26, 2012 READ MORE


How Big Banks Victimize Our Democracy

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 READ MORE



DonkeyHotey (CC BY-SA 2.0)

Why the Senate Won’t Touch Jamie Dimon

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 READ MORE


Doubling Down on Disaster

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 READ MORE



longislandwins (CC BY 2.0)

JPMorgan and the Senate Banking Committee: Cozy Connections

Through campaign contributions and well-connected staff, JP Morgan has a few friends on the Senate banking committee.

Posted on Jun 16, 2012 READ MORE



Wired Photostream (creative commons)

Facebook Sued by Investors Over IPO

Facebook faced more bad news Wednesday in the wake of its botched initial public offering. Shareholders filed a lawsuit against the social networking company, lead underwriter Morgan Stanley and several other Wall Street banks, alleging that they misled them about Facebook’s revenue projections ahead of the IPO.

Posted on May 23, 2012 READ MORE



scott*eric (CC BY 2.0)

The Magnetar Fallout

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.

Posted on May 18, 2012 READ MORE


JPMorgan and the $2 Billion Bet

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.

Posted on May 15, 2012 READ MORE


JPMorgan Chase Self-Destructs

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Posted on May 15, 2012 READ MORE



swanksalot (CC BY-SA 2.0)

Fallout From JPMorgan Chase’s $2 Billion Loss

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.

Posted on May 11, 2012 READ MORE



HA! Designs - Artbyheather (CC-BY)

Banks Pay Bupkis for Roles in Crisis

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.

Posted on Mar 8, 2012 READ MORE



Sasha Y. Kimel (CC-BY)

Time to Move Your Money

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.

Posted on Nov 5, 2011 READ MORE



Phillip Stearns (CC-BY)

The Long-Awaited Oct. 15 Lineup

Occupy Wall Street will hold a number of major events Saturday. First will be a march on a JPMorgan Chase branch to protest the $94.7 billion taxpayer bailout of the company and the bank’s layoff of 14,000 workers since then. (more)

Posted on Oct 14, 2011 READ MORE



Fortune Live Media (CC-BY)

Nine Wall Street Big Shots Who Cashed In on the Crisis

With Americans across the country realizing that they are not the only ones fed up with the CEOs, bankers and policymakers responsible for the current damage to the U.S. economy, now is a good time to read up on the Wall Street executives who profited most from the bubble and federal bailout. (more)

Posted on Oct 9, 2011 READ MORE



AP / Paul Sakuma

Three Banks Spanked for Subpar Mortgage Practices

In a startling move, the Obama administration is holding three major banks—Wells Fargo, Bank of America and JPMorgan Chase—accountable for their bad lending habits on the mortgage market, cutting off funds from the Home Affordable Modification Program until they shape up.

Posted on Jun 10, 2011 READ MORE


Obama and banking leaders
AP / Susan Walsh

Obama to Banks: It’s Payback Time

On Monday at the White House, President Barack Obama reminded a group of big banking honchos (or “fat cats,” as he called them Sunday) about last year’s bailout and advised them to get busy helping the taxpayers who helped with their recovery. Well, good luck with that one.

Posted on Dec 14, 2009 READ MORE


Greenspan
France 24

Greenspan: Dark Days Ahead for the Global Economy

Those hoping for better news about the state of the U.S. economy—not to mention the bigger picture—aren’t going to hear it from former Fed chair Alan Greenspan anytime soon, judging by his ominous forecast released Monday.

Posted on Mar 17, 2008 READ MORE


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