Two Judges Who Get It About Banks – Too Many Other Judges Don’t

Holm MissouriBig banks hold great sway in Washington these days, far more than troubled homeowners do. But outside the Beltway, many people remain caught in the maw of the financial giants, which is why it is heartening when some judges step into the fray.

Consider two opinions involving Wells Fargo, a bank that enjoys a somewhat better reputation than many of its peers. On Monday, a judge in a state court in Missouri ordered Wells to pay over $3 million in punitive damages and other costs for abusing a borrower. Then, on Thursday, a judge in Federal Bankruptcy Court in suburban New York ruled on behalf of another borrower, concluding that there was substantial evidence Wells Fargo forged documents when it foreclosed on a property. Continue reading

Weekend Reading: Calm Before the Storm

The New York Times with an insightful review.

stuck_in_customs2WEEK IN REVIEW NOVEMBER 1, 2013  BY ERIC OWLES

[Editors’ note: Please do not read this if you are a junior banker at Goldman Sachs.]

Sit back and enjoy eating your children’s Halloween candy. Looking ahead to next week, we face possible settlements for JPMorgan Chase and Steven Cohen’s hedge fund as well as Twitter’s initial public offering. Continue reading

Sense on Cents – Business Talk with Jim Campbell

Posted by Larry Doyle – Sense on Cents

What are you doing this weekend?  I hope the weekend allows you to spend quality time with family and friends. While I figure out some plans for today, tomorrow I will definitely set aside an hour to listen to the following:

Nationally Syndicated   Business Talk with Jim Campbell.

jim campbellSunday August 11th @ 10-11am & 10-11pm EST

Powerhouse Lineup on Insider Trading
Gretchen Morgenson – Assistant Business & Finance Editor, New York Times
Charles Gasparino – Senior Correspondent, Fox Business Network
William D. Cohan – Author, Fall of Bear Stearns and Goldman Sachs
Anita Raghavan – Author, “The Fall of the Galleon Hedge Fund”

Topic: Steven A. Cohen and the Criminal Indictment of SAC Capital Continue reading

A Safe and a Shotgun or Public Sector Banks? The Battle of Cyprus

HISTORY

the more you know

Remember: “First come, first served”
Like the Billionaires dumping stocks – get it out of the banks now and invest in something tangible. Plant a garden, put solar on your roof – you may not want to leave those 401ks and mutual funds just sitting there because they may not be there when you need them most. [Ed. DeadlyClear]

Retirement Don't Bank on itBy Ellen BrownWeb of Debt | News Analysis | Friday, 22 March 2013 | Click here for original Truth-out post.

If these worries become really serious, . . . [s]mall savers will take their money out of banks and resort to household safes and a shotgun. – Martin Hutchinson on the attempted EU raid on deposits in Cyprus banks (Photo: Loz Pycock / Flickr) Continue reading

CROOKS AND LIARS – ‘Breaking The Law Should Not Be A Business Expense’

By Susie Madrak, January 18, 2013

‘Breaking The Law Should Not Be A Business Expense’

In the past, federal regulators have been known to include provisions that waived the ability of a company to write off the costs of a settlement. But since our banks are always considered Too Big To Fail, they are of course offered every consideration, and We the Continue reading

Obama Adds Insult to Injury – a “Sweetheart Deal” (no prison) for the banks!

MONDAY, JANUARY 23, 2012

Rumor has it that in a matter of days, after months of negotiation with big banks, the White House may announce a settlement that would let the banks off the hook for their role in the foreclosure crisis — paying a tiny fraction of what’s needed in exchange for blanket immunity from future lawsuits. If this happens will we ever be able to trust him again?

Gathered here are three excellent presentations from this weekend… Continue reading

Obama Administration Tries to Protect Banksters Urging AG Cooperation

MaxineIt was midnight Sunday. I couldn’t sleep.  NY Times emails me an alert to Gretchen Morgenson’s article about how the Obama “I only care about the banks” Administration is trying to negatively influence the NY AG (my hero) Eric Schneiderman who is gunning after the Wall Street banks for their foreclosure fraud and Ponzi scheme that collapsed our country. I was angry, tossing and turning all night thinking about how I would blog my emotions. When I awoke there were several other well-respected bloggers that expressed my feelings for the leader of the unemployed, homeless, “free” world better than I ever could.
 Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal

By
Published: August 21, 2011 Continue reading

2nd Loans, 2nd Wave of Losses

Gretchen Morgenson is one of the more astute journalists in our country writing with insight for the NY Times about Wall Street and foreclosure frauds.  First thing this morning I was alerted to her latest article calling attention to the fact that the banks may be misrepresenting their profits (ya think? – I’m shocked).  I’m wondering about the rest of the expenses the banks don’t seem to be paying or claiming on their books – like insurance, HOA fees, taxes, maintenance… these are sizable figures and no one seems to be making them accountable.

FAIR GAME
2nd Loans, 2nd Wave of Losses
GRETCHEN MORGENSON
Published: July 16, 2011

HAVE you heard the good news? Big banks are making more money than we thought.

On Thursday, JPMorgan Chase said it earned $5.4 billion during the second quarter. On Friday, Citigroup said it earned $3.3 billion. Continue reading