AIG CEO Robert Benmosche Compares Bonus Criticism to Lynch Mobs

You will love this Matt Taibbi article posted on RSN and Rolling Stone. He’s G-r-r-reat!

Matt-TaibbiAIG has a lengthy history of producing some of the biggest tools on Wall Street. Former CEO Maurice “Hank” Greenberg was considered one of the world’s preeminent unapologetic narcissists even before he sued the government for providing an insufficiently generous bailout.

Joe Cassano, former chief of AIG’s financial products division, was another. First, he arrogantly blew off the accountants who warned him his portfolio of hundreds of billions in uncollateralized bets might destroy the world. Then, after it all went Continue reading

Is Jamie Dimon Still the President’s Favorite Bankster?

ROLLING STONE – FEATURE:
Chase, Once Considered “The Good Bank,” Is About to Pay Another Massive Settlement
By POSTED: July 18, 12:20 PM ET

Jamie Dimon Libor SubpeonasDuring the financial crisis, while Dr. Evil-ish Wall Street villains like Goldman and Lehman Brothers were getting all the bad press, pundits continually referred to J.P. Morgan Chase as the “good bank.” The myth of Chase as the finance sector’s one upstanding rock of rectitude reached its zenith in July of 2009 with an embarrassingly hagiographic piece in the New York Times entitled, “In Washington, One Bank Chief Still Holds Sway.” In that one, the paper breathlessly praised Jamie Dimon for emerging from “the disgrace of his industry” to become Barack Obama’s “favorite banker.”

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Elizabeth Warren Blasts Regulators For Protecting Banks

Elizabeth-Warren2“The Fed messed with the wrong senator…” posted David Dayen on Salon.  Sen. Elizabeth Warren (D-MA) grilled federal officials about illegal bank foreclosures at a Senate Banking Committee hearing on Thursday. She wanted to know if they would give information to victims of illegal foreclosures–or if they just want to protect the banks. Warren asked, “You now know individual cases where the banks violated the law, and you’re not going to tell the homeowners, or at least it’s not clear yet whether you’re going to do that?”     Continue reading