When Sam Brownback was a Senator he carried water for the sleaziest of auto lenders – the subprime lenders that specialize in making “liar’s” loans. His successful mission was to carve out an exemption from the Dodd-Frank bill’s protection for borrowers.
On August 13, 2014, the International New York Times printed an op ed by Beppe Severgnini attacking Matteo Renzi, Italy’s Prime Minister. Severgnini offered readers this classic question and answer.
Under the banner “Latin America News” the Wall Street Journal has poured out its pain that the people of Ecuador might reelect President Rafael Correa.
Bank of America just agreed to pay another $16 Billion fine for one of its frauds—selling trashy securities to its investors. Another day, another fraud exposed. No surprises there. This is so routine it barely deserves a headline.
In researching my series of articles on the critical omissions in Attorney General Eric Holder’s press release about the settlement with Citi I realized that I need to write multiple articles about the destructive role played by Benjamin Wagner.
DOJ waited over four years, confirmed that Bowen was correct and emphasized the “strength” of the evidence of culpability, and failed to prosecute anyone (even the bank) for these “egregious” frauds that Holder says contributed “mightily” to the crisis.
By now you’ve heard that Citigroup admits—yet again—that it engaged in fraud. Heck, it was the business model under Bob Rubin. If you want to blame three individuals for the Global Financial Crisis, only Larry Summers and Alan Greenspan deserve more credit than Rubin.
The finance ministers of Italy and Serbia have just publicly thrown their heads of state and their nations under the bus. In a testament to the crippling effect of the belief that “there is no alternative” (TINA) to austerity, these finance ministers have insisted on bleeding economies that are in desperate need of fiscal stimulus.
The survey unintentionally documents how depraved senior bankers are as a group. They come to praise Caesar, but end up burying him in a garbage dump.
By William K. Black John Cochrane, the U. Chicago apologist-in-chief for elite corporate criminals, might want to read what the industry says about fraud. Cochrane claims that the reason we have a modest economic recovery has nothing to do with … Continue reading →