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JPMorgan Chase & Co.


Self Description

July 2009:

  • "JPMorgan Chase (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion.
     
  • We operate in more than 60 countries.
  • We have more than 200,000 employees.
  • We serve millions of U.S. consumers and many of the world's most prominent corporate, institutional and government clients.
  • We are a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.
  • We are a component of the Dow Jones Industrial Average."
http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about

June 2002: "The merger of The Chase Manhattan Corporation and J.P. Morgan & Co. Incorporated was completed on December 31, 2000. The new company, J.P. Morgan Chase & Co., unites two firms that have played formative roles in global finance. We are a leading wholesale financial services firm, complemented by a strong and profitable U.S. consumer business." http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about

Third-Party Descriptions

August 2016: "On Aug. 19, for example, an informant was awarded $95,000 for helping Indiana securities regulators bring an enforcement action against JPMorgan Chase for failing to disclose certain conflicts of interest to clients about the way the bank invested their money. The monetary award was the first given under that state’s whistle-blower program aimed at securities law violators."

http://www.nytimes.com/2016/08/22/business/to-crack-down-on-securities-fraud-states-reward-whistle-blowers.html

March 2013: "To bolster sales, said the advisers, many of whom spoke on the condition of anonymity because they feared retribution, JPMorgan largely pushes its own bank-branded investments, which include a mix of mutual funds. While the practice can be legal, competitors have moved away from such investments after facing perceived conflicts. The concern is that, driven by fees, banks will push their own products over lower-cost options with stronger returns."

http://dealbook.nytimes.com/2013/03/02/selling-the-home-brand-a-look-inside-an-elite-jpmorgan-unit-2/

July 2012: "Of the 1,749 complaints registered on the website, 393 were lodged about Capital One. Citibank (C, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) came in second and third, with 301 and 279 complaints, respectively."

http://money.cnn.com/2012/07/18/pf/capital-one-refund/index.htm

July 2012: "The issue came up again earlier this week in an article by my colleagues at The New York Times, who quoted former JPMorgan Chase brokers as saying they were encouraged to promote the firm’s own funds to customers even when more competitive investments were available. Not only were the funds expensive, but the bank also exaggerated at least one investment portfolio’s returns."

http://www.nytimes.com/2012/07/07/your-money/beware-of-fancy-financial-adviser-titles.html

March 2012: "His decision to settle for much less was regarded by a number of experts as a kind of surrender on the explosive assertions that were central to the case. Legal experts said the settlement would most likely embolden other defendants who are fighting accusations brought by the trustee. Mr. Picard has filed several large suits that have accused defendants of misconduct, including actions against some of Mr. Madoff’s relatives and one of his primary banks, JPMorgan Chase. The cases make similar bad-faith claims to the one brought against the Mets’ owners."

http://www.nytimes.com/2012/03/20/sports/baseball/mets-owners-pay-162-million-to-settle-madoff-suit.html

March 2012: "Principal reductions will also only apply to certain borrowers who have mortgages still held by the five major lenders: Bank of America (BAC, Fortune 500), CitiBank (C, Fortune 500), Wells Fargo (WFC, Fortune 500), J.P. Morgan Chase (JPM, Fortune 500) and Ally Financial."

http://money.cnn.com/2012/03/13/real_estate/mortgage-settlement/index.htm

February 2012: "Officials will also be able to pursue any allegations of criminal wrongdoing. In addition, a lawsuit Mr. Schneiderman filed Friday against MERS, an electronic mortgage registry responsible for much of the robo-signing that has marred the foreclosure process nationwide, and three banks, Bank of America, JPMorgan Chase and Wells Fargo, will also go forward."

http://www.nytimes.com/2012/02/09/business/states-negotiate-25-billion-deal-for-homeowners.html

January 2012: "Tom Kelly, a spokesman for Chase, said that customers could use e-mail or text alerts to make sure they didn’t fall below any daily balance threshold, like the ones that TD Bank uses and that Chase also uses in some circumstances. For the more complex monthly average, the alerts may also help if you’re good at math."

http://www.nytimes.com/2012/01/28/your-money/brokerage-and-bank-accounts/in-search-of-an-app-to-monitor-average-bank-balances.html

December 2011: "And in 2008, in that moonlighting capacity, he orchestrated a deal in which the Fed provided $29 billion in assistance to help his own bank, Chase, buy up the teetering investment firm Bear Stearns. You read that right: Jamie Dimon helped give himself a bailout. Who needs to worry about good government, when you are the government?"

http://www.rollingstone.com/politics/blogs/taibblog/a-christmas-message-from-americas-rich-20111222

October 2011: 'When Bank of America told its customers recently that it would start charging them $5 a month to use debit cards, it argued that it was forced to make that change because of regulations that altered the economics of the cards. Other banks agreed. The chief executive of JPMorgan Chase, Jamie Dimon, put the effects of the regulations this way: “If you’re a restaurant and you can’t charge for the soda, you’re going to charge more for the burger.” Both banks were responding to the Federal Reserve’s actions to limit the interchange fees banks charge stores each time a debit card is used for a purchase.'

http://www.nytimes.com/2011/10/07/opinion/debit-card-fees-are-robbery.html

August 2011: "Meanwhile, as Edgar Dworsky, a consumer advocate who founded ConsumerWorld.org, discovered recently, someone armed with just a bit of personal information about a target can also gain access to the automated phone systems for Bank of America and Chase credit card holders."

http://www.nytimes.com/2011/08/20/your-money/your-phone-may-be-less-secure-than-you-thought.html

September 2011: "Other large banks also assembled huge amounts of so-called private label mortgage-backed securities for Fannie and Freddie that declined sharply in value after the housing bubble burst in 2007. JPMorgan Chase sold $33 billion, while Morgan Stanley sold over $10 billion and Goldman Sachs sold more than $11 billion. A who’s who of foreign banks were also big bundlers and sellers of these securities, like Deutsche Bank with $14.2 billion, Royal Bank of Scotland at $30.4 billion, and Credit Suisse selling $14.1 billion. All were sued Friday."

http://www.nytimes.com/2011/09/03/business/bank-suits-over-mortgages-are-filed.html

June 2011: "He also reports that Jamie Dimon, the head of JPMorgan expressed some doubts about the fundamentals of the deal based on his firm’s analysis, but ultimately the bank decided to keep Mr. Zell’s business. JP Morgan was a substantial lender in the deal as well, lending hundreds of millions of dollars, and will share in the pain of the bankruptcy."

http://www.nytimes.com/2011/06/20/business/media/20carr.html

May 2011: "The worst for junk fees, in addition to the U.S. Bank version with overdraft fees, is the Tennessee card issued by JPMorgan Chase. It is one of only two states that fail to offer any free A.T.M. withdrawals."

http://bucks.blogs.nytimes.com/2011/05/11/prepaid-cards-subject-jobless-to-host-of-fees

December 2010: "None of the three clearinghouses would divulge the members of their risk committees when asked by a reporter. But two people with direct knowledge of ICE’s committee said the bank members are: Thomas J. Benison of JPMorgan Chase & Company; James J. Hill of Morgan Stanley; Athanassios Diplas of Deutsche Bank; Paul Hamill of UBS; Paul Mitrokostas of Barclays; Andy Hubbard of Credit Suisse; Oliver Frankel of Goldman Sachs; Ali Balali of Bank of America; and Biswarup Chatterjee of Citigroup."

http://www.nytimes.com/2010/12/12/business/12advantage.html

April 2010: 'Mr. Jealous said he was optimistic that the N.A.A.C.P. would reach similar agreements with Citibank and JPMorgan Chase, which the N.A.A.C.P. is also suing. He added that he also hoped to negotiate such an agreement with Bank of America, which is not part of the lawsuit. “Bankers were using affinity-based marketing — for instance, going into churches and other networks and aggressively marketing,” Mr. Jealous said, and as a result, the borrowers often believed that the lenders’ offers were trustworthy.'

http://www.nytimes.com/2010/04/25/realestate/25mort.html

April 2010: 'Further complicating the arrangement, Lehman later pledged those Fenway notes to JPMorgan as collateral for still other loans as Lehman began to founder. When JPMorgan realized the circular relationship, “JPMorgan concluded that Fenway was worth practically nothing,” according the report prepared by the court examiner of Lehman.'

http://www.nytimes.com/2010/04/13/business/13lehman.html

April 2010: "Well, the truth is this: The collapse of Enron back in 2001 revealed that the biggest financial institutions, here and abroad, were busy creating products whose sole purpose was to help companies magically transform their debt into capital or revenue. At the time, there were news reports about Merrill Lynch pretending to buy Nigerian barges from Enron, JPMorgan Chase dressing up its loans to Enron as commodity trades and Citigroup disguising Enron debt as profits from Treasury-bill swaps."

http://www.nytimes.com/2010/04/04/opinion/04koniak.html

March 2010: "Even so, some of the other big banks are betting that plenty of people will raise their hands to overspend and pay the per-transaction fee. Chase is engaged in an aggressive campaign to get customers to consider their overdraft options and to talk to a banker about them, including reminding them of the opt-in option when they take out money at an A.T.M. Chase will also allow credit card customers to opt in to go over their credit limits."

http://www.nytimes.com/2010/03/13/your-money/credit-and-debit-cards/13money.html

February 2010: 'When Goldman Sachs and Morgan Stanley got their federal bank charters, they joined Bank of America, Citigroup, J.P. Morgan Chase and the other banking titans who could go to the Fed and borrow massive amounts of money at interest rates that, thanks to the aggressive rate-cutting policies of Fed chief Ben Bernanke during the crisis, soon sank to zero percent. The ability to go to the Fed and borrow big at next to no interest was what saved Goldman, Morgan Stanley and other banks from death in the fall of 2008. "They had no other way to raise capital at that moment, meaning they were on the brink of insolvency," says Nomi Prins, a former managing director at Goldman Sachs. "The Fed was the only shot."'

http://www.rollingstone.com/politics/story/32255149/wall_streets_bailout_hustle

July 2009: "JPMorgan Chase paid 1,626 employees bonuses of more than $1 million in 2008 and received $25 billion in federal assistance. The bank earned $5.6 billion, while its bonuses totaled $8.69 billion."

http://www.nytimes.com/2009/07/31/business/31pay.html

July 2009: "Chase is but one of a number of major credit card companies that are jacking up interest rates and fees, or laying the groundwork to do so, before new federal legislation that cracks down on some of the practices goes into effect in February."

http://www.boston.com/business/personalfinance/articles/2009/07/27/credit_card_firms_raise_fees_before_law_changes

July 2009: "But on July 20, [Pension Benefit Guaranty Corporation] permanently revoked the contracts with BlackRock, Goldman and JPMorgan Chase, the third winner, nullifying the process. The decision was based on questions surrounding Mr. Millard’s actions during the formal bidding process. His actions have also drawn the scrutiny of Congressional investigators and the agency’s inspector general."

http://www.nytimes.com/2009/07/29/business/29pensions.html

July 2009: "It was the morning that Goldman Sachs reported net income of $3.44 billion, a number that surprised even analysts who follow investment banking. JPMorgan Chase came two days later with news that it had earned $2.7 billion in the second quarter, even more than it earned in the same period last year, before the economy had a cardiac infarction."

http://www.nytimes.com/2009/07/19/weekinreview/19segal.html

April 2009: 'Officials from Citigroup, Morgan Stanley, PNC Financial and a number of other big lenders that have received multibillion-dollar government bailouts are reluctant to participate or have refused so far to commit until more details are offered. Jamie Dimon, JPMorgan Chase’s chief executive, has said he believes that the Public-Private Investment Program — which depends on loans from the Federal Deposit Insurance Corporation — could be “good for the system” but that his bank has no intention of being either a seller or buyer. “We’re certainly not going to borrow from the federal government, because we’ve learned our lesson about that,” he said earlier this month in a conference about earnings.'

http://www.nytimes.com/2009/04/29/business/economy/29bank.html

May 2009: "The top three private lenders [for student loans--Ed.] are Sallie Mae, which underwrote $6.3 billion in loans during 2008; Citibank, with $1.8 billion in loans last year; and Chase, which made $1.1 billion in loans during 2007."

http://www.nytimes.com/2009/05/03/business/03gret.html

June 2009: "After a 50 percent fall in revenue in 2008, Goldman Sachs is back on a pace to match the $38 billion it generated in 2006. JPMorgan Chase is boasting of its record 9 percent share of the European investment banking market through May. Star producers will expect to be paid for such results."

http://www.nytimes.com/2009/06/17/business/17views.html

June 2009: "In two cases involving large banks, the commission eased the penalties sought by the staff. Last year, the commission slashed the penalty proposed in a case against J.P. Morgan Chase. The bank was accused of ignoring improper transactions at one of its clients that had cost investors $2.6 billion. J.P. Morgan agreed to pay a $2 million penalty to settle the case."

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/31/AR2009053102254.html

January 2009: 'More than 30 financial services companies have been subpoenaed, including JPMorgan Chase, Merrill Lynch and the American International Group, which have recently received government assistance and in the case of A.I.G., an outright federal bailout. Several have disclosed in corporate filings that their employees have been called to testify before grand juries or have received “Wells notices” from the S.E.C. warning that an enforcement action is looming.'

http://www.nytimes.com/2009/01/09/business/09insure.html

January 2009: "The coalition — a group of major trade associations and lenders like Bank of America, JPMorgan Chase and Wells Fargo — also fought to block the so-called cramdown legislation last year."

http://www.nytimes.com/2009/01/09/business/economy/09loan.html

December 2008: "JPMorgan Chase, which bought WaMu for $1.9 billion in September and received $25 billion a few weeks later as part of the taxpayer bailout of the financial services industry, declined to make former WaMu executives available for interviews."

http://www.nytimes.com/2008/12/28/business/28wamu.html

October 2008: "The Associated Press reported that nine financial companies it surveyed--Citigroup (nyse: C - news - people ), Bank of America (nyse: BAC - news - people ), Goldman Sachs (nyse: GS - news - people ), Morgan Stanley (nyse: MS - news - people ), JPMorgan Chase (nyse: JPM - news - people ), Merrill Lynch (nyse: MER - news - people ), Bank of New York Mellon (nyse: BK - news - people ), State Street (nyse: STT - news - people ), and Wells Fargo (nyse: WFC - news - people )--had compensation-related expenses of $108 billion in the first three quarters of the year. That's 3% higher than in the first nine months of 2007, says the AP."

http://www.forbes.com/business/2008/10/30/wall-street-bonuses-pf-ii-in_hg_1030soapbox_inl.html

July 2008: "Since Bear Stearns collapsed and was acquired by JPMorgan Chase, many Wall Street executives have argued that short sellers are going beyond legitimate methods and planting false information to cause shares to fall so that they can profit. Proffering false information or manipulating the market is illegal."

http://www.nytimes.com/2008/07/16/business/16short.html

July 2008: "A former private banker at JPMorgan Chase is under investigation, suspected of making illegal money transfers, according to federal authorities and court documents, in another indication of the government’s crackdown on private banking practices."

http://www.nytimes.com/2008/07/04/business/04tax.html

April 2008: "The Schuesslers got into trouble because Chase had refused a mortgage payment they tried to make at a local branch. Testimony in the case revealed a Chase policy of accepting mortgage payments in branches from borrowers who are current on their loans but rejecting payments from borrowers operating under bankruptcy protection."

http://www.nytimes.com/2008/04/20/business/20gret.html

March 2008: "How can one feel sorry for James Cayne? The potential losses of the chairman and former chief executive of Bear Stearns must rank up there with the biggest in modern history. The value of his stake in Bear Stearns collapsed from about $1 billion a year ago to as little as $14 million at the price JPMorgan Chase offered for the teetering bank on Sunday."

http://www.nytimes.com/2008/03/21/opinion/21fri1.html

March 2008: "Bear Stearns averted filing for bankruptcy by agreeing to sell itself to J.P. Morgan Chase & Co., which will assume the firm's trading obligations. As a result, clients with brokerage accounts at Bear, which is mainly an institutional firm but oversees some individual assets, will eventually see their accounts and assets transferred to J.P. Morgan. Like Bear, Lehman Brothers, which saw its stock tumble by 19% yesterday amid concerns the investment bank may also face funding problems, caters mostly to wealthier individual investors."

http://online.wsj.com/article/SB120580155855243823.html

January 2005: In October 2003, J.P. Morgan Chase & Co., which handled far fewer technology IPOs than Goldman or Morgan Stanley, agreed to pay $25 million to settle charges of inducing IPO recipients to buy more shares on the open market.

http://www.washingtonpost.com/wp-dyn/articles/A36686-2005Jan25.html

Relationships

RoleNameTypeLast Updated
Member of (past or present) Bankruptcy Coalition Organization Jan 9, 2009
Owner of (partial or full, past or present) Bear Stearns Companies Organization Mar 18, 2008
Status/Name Change from Chase Manhattan Bank Organization Aug 4, 2007
Member of (past or present) Financial Services Roundtable Organization Jan 9, 2009
Possible/Unclear Hudson Castle Group Organization Apr 13, 2010
Status/Name Change from J.P. Morgan Organization May 5, 2006
Cooperation (past or present) Opponent (past or present) Securities and Exchange Commission (SEC) Organization Jun 2, 2009
Owner of (partial or full, past or present) Washington Mutual, Inc. (WaMu) Organization Nov 26, 2008
Organization Executive (past or present) William B. Daley Esq. Person Jun 17, 2011
Organization Head/Leader (past or present) James "Jamie" L. Dimon Person May 25, 2007
Director/Trustee/Overseer (past or present) Dr. Alan Greenspan Person
Organization Head/Leader (past or present) William B. Harrison Jr. Person Jun 20, 2005
Employee/Freelancer/Contractor (past or present) Donna Hitscherich Person Jul 15, 2012
Advised by (past or present) Secretary of State Henry Alfred Kissinger Person Apr 1, 2008
Advised by (past or present) Secretary of State George P. Schulz Person Feb 6, 2007
Advised by (past or present) Stephen A. Schwarzman Person Jun 18, 2007
Advised by (past or present) George Pratt Shultz Person Jan 9, 2006

Articles and Resources

89 Articles and Resources. Go to:  [Previous 20] [Next 20]   [End]

Date Fairness.com Resource Read it at:
Dec 11, 2010 A Secretive Banking Elite Rules Trading in Derivatives

QUOTE: Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk. In theory, this group exists to safeguard the integrity of the multitrillion-dollar market. In practice, it also defends the dominance of the big banks.

New York Times
May 04, 2010 Crisis Panel to Probe Window-Dressing at Banks

QUOTE: It’s an open secret on Wall Street that many big banks routinely — and legally — fudge their quarterly books. But now Washington is taking a hard look at a range of maneuvers that help banks dress up their financial statements, and raising some uncomfortable questions about banks’ bookkeeping.

New York Times
Apr 21, 2010 Bias Accord as Harbinger

QUOTE: A DECISION this month by the National Association for the Advancement of Colored People to drop its racial-discrimination lawsuit against Wells Fargo in exchange for a say in reviewing its lending practices could set the stage for similar agreements with other big mortgage lenders, some experts say. From 2007 to 2009, the N.A.A.C.P. filed suit against 15 lenders, accusing them of offering high-cost loans to many black borrowers during the subprime lending boom, even though many of the applicants could have qualified for lower interest rates and closing costs.

New York Times
Apr 12, 2010 Lehman Channeled Risks Through ‘Alter Ego’ Firm

QUOTE: It was like a hidden passage on Wall Street, a secret channel that enabled billions of dollars to flow through Lehman Brothers. In the years before its collapse, Lehman used a small company — its “alter ego,” in the words of a former Lehman trader — to shift investments off its books.

New York Times
Apr 03, 2010 How Washington Abetted the Bank Job

QUOTE: Mr. Bernanke said the Fed had known nothing about this....The collapse of Enron back in 2001 revealed that the biggest financial institutions, here and abroad, were busy creating products whose sole purpose was to help companies magically transform their debt into capital or revenue.

New York Times
Mar 12, 2010 Overdraft Protection: Why Bother?

QUOTE: Overdraft, in other words, is the very last resort. After a credit card. After account alerts. After tapping home equity. Or, presumably, after you’ve maxed out or ruined your credit and have no home equity left.

New York Times
Feb 17, 2010 Wall Street's Bailout Hustle: Goldman Sachs and other big banks aren't just pocketing the trillions we gave them to rescue the economy - they're re-creating the conditions for another crash

QUOTE: there's still a widespread misunderstanding of how exactly Wall Street "earns" its money, with emphasis on the quotation marks around "earns." The question everyone should be asking, as one bailout recipient after another posts massive profits — Goldman reported $13.4 billion in profits last year, after paying out that $16.2 billion in bonuses and compensation — is this: In an economy as horrible as ours, with every factory town between New York and Los Angeles looking like those hollowed-out ghost ships we see on History Channel documentaries like Shipwrecks of the Great Lakes, where in the hell did Wall Street's eye-popping profits come from, exactly?

Rolling Stone
Oct 14, 2009 JPMorgan earnings show ‘too big to fail' banks getting bigger: JPMorgan Chase's surging earnings show that many of the biggest US banks are becoming more powerful. What happens if they get in trouble again?

QUOTE: The question is: How can regulators reduce the risk of another financial crisis should these banks get into trouble again. In other words, if they were too big to fail then, they would seem to be even more so now.

Christian Science Monitor
Oct 05, 2009 Report on Bailouts Says Treasury Misled Public

QUOTE: The inspector general who oversees the government’s bailout of the banking system is criticizing the Treasury Department for some misleading public statements last fall and raising the possibility that it had unfairly disbursed money to the biggest banks.

New York Times
Sep 16, 2009 Where are the subprime perp walks?: Three years after the housing bubble popped, prosecutors have yet to bring a major case tied to the subprime fiasco. What gives?

QUOTE: Three years after the housing bubble popped, federal prosecutors have yet to bring a case against the executives whose firms took part in some of the worst excesses of the subprime mortgage market.

Fortune
Aug 26, 2009 Subprime Lenders Getting U.S. Subsidies, Report Says

QUOTE: Many of the lenders eligible to receive billions of dollars from the government's massive foreclosure prevention program helped fuel the housing crisis by issuing risky subprime loans...

Washington Post
Aug 17, 2009 Tax Bills Put Pressure on Struggling Homeowners

QUOTE: in recent years struggling cities and counties have sold their delinquent tax bills to the highest bidder... But housing advocates say the private companies may be exacerbating the foreclosure crisis, pushing out homeowners faster than would governments, which are increasingly concerned about neighborhoods becoming wastelands of abandoned properties.

New York Times
Aug 11, 2009 Bankruptcy Judges, Justice Dept. Rip Mortgage Companies

QUOTE: Judges have found that major mortgages servicers regularly mess up basic accounting, improperly credit payments and charge unwarranted fees.

Aug 10, 2009 As Dubai's Glitter Fades, Foreigners See Dark Side: More Jailings, Prosecutions Follow Downturn

QUOTE: Dubai is still far more free and more predictable than most of its neighbors, but a chill has taken hold as property values tumble, jobs vanish and businessmen are detained.

Washington Post
Jul 30, 2009 Big Banks Paid Billions in Bonuses Amid Wall St. Crisis

QUOTE: 4,793 bankers and traders were paid more than $1 million in bonuses last year even as profits at the biggest banks dwindled and they accepted tens of billions of dollars of taxpayer money, according to a report released on Thursday by the New York attorney general’s office....The new rules call for a “say-on-pay” vote for all public companies and additional requirements that compensation committees be made up of independent directors, and would order regulators to restrict "inappropriate or imprudently risky" pay packages at larger banks.

New York Times
Jul 28, 2009 Wooing a Federal Agency With Billions to Invest

QUOTE: An examination of thousands of pages of e-mail messages and other internal documents obtained by The New York Times shows the other side of the story: the two firms aggressively courted Mr. Millard, so extensively that they may have compromised federal contracting rules or at least violated the spirit of the law, contracting experts said.

New York Times
Jul 27, 2009 Credit card firms raise fees before law changes

QUOTE: Chase [JPMorgan Chase & Co] is but one of a number of major credit card companies that are jacking up interest rates and fees, or laying the groundwork to do so, before new federal legislation that cracks down on some of the practices goes into effect in February.

Boston Globe
Jul 18, 2009 Windfalls for Bankers, Resentments for the Rest

QUOTE: At a time when so many people are struggling with foreclosures and are either unemployed or worried about losing a job, these earnings were bound to stir up some basic questions of fairness....It’s not merely that Americans have, at least temporarily, abandoned the hope that they’ll earn scads of money. It’s the widespread sense that winners in this economy are produced by a game that’s rigged.

New York Times
Jul 15, 2009 Federal Inquiry Looks at Derivatives Data Providers

QUOTE: Federal antitrust officials have opened a broad inquiry into the practices of the companies that serve as clearinghouses for trades of derivative instruments and are looking in particular at whether any companies have improperly used inside information about trades to profit...

New York Times
Jun 29, 2009 Justices Rule That States Can Press Bank Cases

QUOTE: The Supreme Court paved the way on Monday for states to enforce fair-lending laws and other consumer protection measures against the nation’s biggest banks, striking down a rule that limited such powers to federal banking regulators....The letters referred to “troubling” disparities that suggested black and Hispanic borrowers had been charged disproportionately higher interest rates on mortgages compared with those for whites.

New York Times

89 Articles and Resources. Go to:  [Previous 20] [Next 20]   [End]