Tag Archives: “Wall Street”

A Requirement for Every Foreclosure Judge – Watch The Wolf of Wall Street

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By Sydney Sullivan

The Wolf of Wall Street - Sep 2013Without a doubt every foreclosure judge and any judge who has ruled in favor of the banks over duped homeowners should be required to watch The Wolf of Wall Street – not once but several times.

Every time the Courts consider ruling in favor of these decadent Wall Street creatures – they should be shoved into a room with a wide flat screen TV, handed a box of popcorn and ice cold Coca Cola and locked in there for 180 minutes – so they can see exactly what they are sustaining by ruling in favor of the banks. Continue reading →

Threats, Extortion Made By Banks Threatened By Eminent Domain

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12-RICHMOND1-master675Eminent Domain: a Long Shot Against Blight – Maybe Not

New York Times By 

You can’t fight city hall, the saying goes. But Gayle McLaughlin, the mayor of Richmond, Calif., a city of 100,000 souls, would tell you that fighting Wall Street is harder. Even for city hall. Continue reading →

Stern Words for Wall Street’s Watchdogs, From a Judge

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In the New York Times – By Published: December 16, 2013

NTBTGTJWASHINGTON — It used to be common for the federal government to prosecute prominent people responsible for debacles that rattled the financial system. Michael R. Milken, the junk bond artist, went to prison in 1991; Charles H. Keating Jr., the face of the savings-and-loan crisis, pleaded guilty to four counts of fraud in 1999; and it looks like Jeffrey K. Skilling, the former chief executive of Enron, will be in prison until 2017. Continue reading →

Little to NO Sympathy for Big Banks – New York Times

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By 

NYT no sympathyIt’s no fun to be a banker these days. It is not just the increased regulation. It’s the lack of trust.

“At what point does this stop?” asked Gary Lynch, the former director of enforcement for the Securities and Exchange Commission who has gone on to jobs with many leading Wall Street firms and is now global general counsel at Bank of America.

He was referring to the escalation in penalties being levied on banks, culminating in the $13 billion JPMorgan Chase was forced to pay for a series of transgressions. Continue reading →

Criminal Action Is Expected for JPMorgan in Madoff Case

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New York Times posted by JESSICA SILVER-GREENBERG AND BEN PROTESS

Madoff JPMorganJPMorgan Chase and federal authorities are nearing settlements over the bank’s ties to Bernard L. Madoff, striking tentative deals that would involve roughly $2 billion in penalties and a rare criminal action. The government will use a sizable portion of the money to compensate Mr. Madoff’s victims.

The settlements, which are coming together on the anniversary of Mr. Madoff’s arrest at his Manhattan penthouse five years ago on Wednesday, would fault the bank for turning a blind eye to his huge Ponzi scheme, according to people briefed on the case who were not authorized to speak publicly. Continue reading →

Scorsese’s ‘Wolf of Wall Street’ Gets In Under the Oscar Wire

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NYTimes logoBy MICHAEL CIEPLY and BROOKS BARNES

LOS ANGELES — Last week, Martin Scorsese winged off to Marrakesh, Morocco, where he will spend nine days adjudicating Prince Moulay Rachid’s film festival.

But he left a not-so-little something behind: “The Wolf of Wall Street,” a two-hour, 59-minute cinematic romp through the securities business — his longest film ever.

Continue reading →

Weekend Reading: Banks Worried They Might Be Next

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NYTimes logo

One of the best week-in-review posts!

BY ERIC OWLES

dimon wallAfter JPMorgan Chase’s $13 billion mortgage settlement emerged this week, Jamie Dimon held a conference call with analysts. “It could’ve been somebody else,” the bank’s chief executive said. Who is next on the list?

In a news analysis in The New York Times, Peter Eavis wrote that “there were plenty of other big subprime players — Countrywide Financial, Merrill Lynch and even foreign institutions like Deutsche Bank and Royal Bank of Scotland among them.” Continue reading →

More Cities Consider Eminent Domain to Halt Foreclosures

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Save our Homes Walk LogoThe failure of the U.S. government to prosecute those who were the masterminds behind the NTMs (nontraditional mortgages) and subprime loan debacle, that more likely appear to have been an intentional Ponzi-like scam, makes Eminent Domain a plausible solution for relief. If handled properly Eminent Domain may actually save homes and families – not to mention saving lives and local governments that foolishly invested in unregulated and rigged derivatives and securities.

Do the math.  Hypothetical figure (conservative): $900 month payments X 67 million MERS mortgages X 12 months (1 yr.) = $723,600,000,000 new revenue stream annually – and this figure is conservative… it’s likely 2-3 times higher and this is JUST MERS. Continue reading →

Fannie Mae Seeks $800 Million In Libor Manipulation Suit

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Justice League logo Reblogged from Justice League:

Fannie Mae is staying on the offensive against Wall Street.

Fannie Mae is reportedly suing nine banks for a total of about $800 million over alleged manipulation of the benchmark London interbank offered rate (Libor), the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks. Continue reading →

The Wall Street Code: A Thriller About a Genius Algorithm Builder

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Published by VPRO on Nov 4, 2013
The Wall Street Code: a thriller about a genius algorithm builder who dared to stand up against Wall Street. Haim Bodek, aka The Algo Arms Dealer.

From the makers of the much-praised Quants: the Alchemists of Wall Street and Money & Speed: Inside the Black Box. Now the long-awaited final episode of a trilogy in search of the winners and losers of the tech revolution on Wall Street. Could mankind lose control of this increasingly complex system?  Continue reading →