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Financial Industry Takes Hundreds of Millions in Tax Write-Offs from...
Often, I get complaints that focusing on criminal penalties for financial fraud is for some reason unrealistic, and that settlements can themselves be meaningful if they cause the offending party some...
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Banks Trying to Grow Releases on Fraud-Related Settlements After the Fact
The ACLU’s calss action lawsuit against Morgan Stanley over racial discrimination in lending is out. Five African-American homeowners from Detroit form the core of the plaintiffs, who allege that...
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On the Need to Continue Pointing Out That Nobody Has Gone to Jail for the...
I would say that William Cohan has had enough. The author of several books about the financial sector cannot believe that nobody on Wall Street has been held to account for the crisis that caused the...
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More on the Lawsuit Against BofA Over Countrywide’s “Hustle” Program
I’ve taken a closer look at the US Attorney from the Southern District of New York’s $1 billion lawsuit against Bank of America – particularly their subsidiary Countrywide – for “the hustle,” the...
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Australian Court: Standard and Poor’s Liable for Bad Ratings on Securities
This will get approximately no attention today, but a federal court in Australia ruled that Standard and Poor’s, the credit rating agency, lied to investors when they awarded their highest, triple-A...
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The Anti-Due Process Bias of Housing Reporters and Analysts
Existing-home sales rose 2.1% in October, with the number coming in slightly above expectations, although the previous month’s numbers were revised down. Inventory has decreased 21% year-over-year (in...
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Morgan Stanley Trader Investigated for Manipulation
Glenn Hadden could face fines but no jail time It has taken many years, but we might see one Wall Street trader investigated for malfeasance. Glenn Hadden, a former partner at Goldman Sachs now on the...
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Justice: Wells Fargo Still Liable for FHA Abuse, Despite Foreclosure Fraud...
Late last week, the Justice Department issued a filing that attempts to reinforce the release limitations set by the foreclosure fraud settlement, stopping Wells Fargo from reimagining the deal as a...
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First Libor Arrests Net Three Former Low-Level Traders
Despite rumblings, Royal Bank of Scotland and other banks still have not been sanctioned Lots of people are weighing in today on HSBC’s too big to jail status, and the fact that they scored a deferred...
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Republicans and Democrats Speak Out Against “Too Big to Jail” HSBC Case
Where's Leahy? Pat Leahy, co-author of the Fraud Enforcement and Recovery Act, has remained mum on HSBC's get-out-of-jail free card We now have bipartisan anger at the decision to hold HSBC and its...
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Hoyer Pushes Plan to Pass Obama Offer With Bipartisan Mix
So Democrats have reached the bargaining phase of the fiscal slope debacle. It’s hard to say whether they’re pushing this because they think they have an opportunity to avoid the austerity bomb or...
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Cliff Watch: McConnell and Biden Haggle, Tea Party House Posing Problems
We are roughly 16 hours from the fiscal cliff deadline Washington time and it seems the Obama Administration may have played its final card regarding the Senate negotiations, Vice President Biden:...
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Boehner To Reid “Go F– Yourself”
Speaker Boehner dealing with House GOP More news from the Republican meltdown: It was only a few days before the nation would go over the fiscal cliff, no bipartisan agreement was in sight, and Reid...
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Was Hurricane Sandy Relief A Casualty Of The “Fiscal Cliff” Deal?
Somewhat lost in the shuffle last night was a disastrous response to a disaster: The fiscal cliff may have been averted Tuesday, but the next political fight was waiting in the wings and exploded just...
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VIDEO: Governor Christie Slams Boehner For Not Passing Sandy Relief
governorchrischristie on livestream.com. Broadcast Live Free In a press conference today New Jersey Republican Governor Chris Christie slammed Speaker Boehner for failing to allow a vote on Hurricane...
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Conservative Opposition To Boehner Mounts On Eve Of Speaker Vote
Poll From Drudge Report Is Speaker Boehner in trouble? Conservative media mogul Matt Drudge, of the Drudge Report, has been running a poll since yesterday about whether John Boehner should remain...
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Boehner Re-Elected Speaker
Boehner Will Be Speaker For 113th Congress Two more years of tears. In a closer-than-usual vote, Rep. John Boehner (R-OH) was elected to a second term as Speaker of the House on Thursday, with 220...
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Boehner Relents As $9.7 Billion Sandy Relief Bill Passes House
Boehner Finally Lets Sandy Aid Through It’s not the $60 billion that passed last session, but we are getting closer. From ABC News: The House of Representatives voted on Friday to provide about $9.7...
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Boehner Coup Was Called Off Morning Of Speaker Vote
Speaker Boehner Almost Faced 2nd Ballot Rumblings of a Tea Party coup against Speaker Boehner seemed to be unfounded as he sailed to re-election. But now Roll Call is reporting that the plot was very...
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House Passes Sandy Relief Bill Despite Republican Opposition
Boehner Passed Relief Bill Despite Tea Party After failing to get it done in the last Congress, the House has passed the Sandy Relief bill: The House approved a $50 billion Sandy relief bill Tuesday...
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