Search Results for: bank of america

Bank of America fined $17 billion for role in financial crisis

Bank of America

Bank of America, the second largest US lender is close to ending a landmark deal with US authorities to pay up to $17 billion – a record fine – to the Justice Department over its role in the 2007 financial crisis. If completed, it will be largest single compensation settlement, …

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How your bank account could disappear

empty bank account

On the same morning we hear that ¼ of Wall Street executives think that fraud is a necessary part of “doing business” in the financial sector, we hear of a second “MF Global”. The U.S.’s so-called regulators are now reporting that somewhere around $220 million in customer funds is “missing” at a financial institution known as …

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Bank of America to fire 16,000 by year end

Curious why nearly 4 years ago to the day Ben Bernanke and Hank Paulson told Ken Lewis to purchase Merrill Lynch “or else” (but to make sure everyone gets paid their bonuses bright and early with no cuts)? It certainly had to do with the stock price and preserving the …

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How 37 banks became 4

4 banks to 1

If you were wondering how banks got “too big to fail,” here’s a good place to start. This chart shows us how, over the last couple of decades, 37 banks have became just 4 mega-banks. These same 4 mega-banks have, thus far, been immune to the consequences of any and all of …

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10 giant corporations that don’t pay taxes

Exxon Mobil

In recent years, giant corporations have started a trend when it comes to paying taxes: the greater the profit, the lower the taxes they pay. Dissatisfaction has come from citizens, but also from public figures like senator Bernie Sanders and public advocacy group Citizens for Tax Justice. The nonprofit group …

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WikiLeaks bypasses financial blockade with Bitcoin

People shouldn’t fear their government; government should fear its people. Publishers and journalists will not be intimidated nor silenced. Now entering day 626 of the financial blockade against WikiLeaks, Julian Assange sits in the Ecuadorian Embassy in London awaiting safe passage. Following a massive release of secret U.S. diplomatic cables in November …

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Anonymous strikes Wall Street CEOs, leaks personal information

Money is the root of all politics

Declaring “the guilty must pay,” Anonymous has released 4.6 gigabytes of data detailing the personal information of Wall Street CEOs and other high level Wall Street executives. Links to the data began appearing via Twitter on March 2. AnonymousIRC, a popular Twitter account associated with the international hacktivist collective known as Anonymous, tweeted the following: …

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How to be a crook

Ever wanted to rob your fellow man? Learn the different methods you can use and learn who is using them on you right now. [youtube height=”400″ width=”550″]http://www.youtube.com/watch?v=2oHbwdNcHbc[/youtube]

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Americans warned bank ‘bail-ins’ coming

Experts say institutions will grab deposits without warning With the United States facing a $17 trillion debt and an acidic debate in Washington over raising that debt limit on top of a potential government shutdown, Congress could mimic recent European action to let banks initiate a “bail-in” to blunt future …

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Harvard Economist fears bank runs are coming very soon

Bank run

Former Harvard Professor of Economics Terry Burnham fears starting a “run” on Bank of America after he made public his decision to withdraw $1 million dollars from his checking account as a protest against Janet Yellen beginning her term as Federal Reserve head this month. In an article for PBS …

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Major banks under investigation for ties to Mexican drug cartels

Charles Schwab Corp. founder and chairman Chuck Schwab

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels. Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab …

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More Americans opting out of banking system

JP Morgan Chase bank

In the aftermath of one of the worst recessions in history, more Americans have limited or no interaction with banks, instead relying on check cashers and payday lenders to manage their finances, according to a new federal report. Not only are these Americans more vulnerable to high fees and interest …

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Anonymous launches Operation Black October, targets banking system

Anonymous Operation Black October Bank

US branches of Germany’s Deutsche Bank and Spain’s Banco Santander have failed US Fed stress tests, while America’s largest bank, Bank of America, is put on ‘warning’. How far can the ordinary people shoulder responsibility of a failed private bank? Anonymous asks you to join the peaceful revolution from October 1 …

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Deutsche Bank headquarters raided by police in tax fraud probe

Deutsche Bank tax fraud probe Franfurt

German prosecutors raided Deutsche Bank AG’s Frankfurt headquarters Tuesday morning in connection with a criminal tax-fraud probe, according to officials and other people familiar with the matter. The raid came two days after the bank said its co-chief executives would resign but the timing appeared to be unrelated to the management change, people familiar …

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