TV News LIES

Friday, Oct 31st

Last update05:45:03 AM GMT

You are here All News At a Glance Economic Glance

Feds charge Jon Corzine for role in MF Global collapse

Jon CorzineFinancial regulators are taking aim at Jon Corzine for his role in the 2011 collapse of brokerage MF Global, announcing on Thursday that they are filing civil charges against the former New Jersey governor and senator.

The Commodity Futures Trading Commission said it is suing Corzine, who was MF Global’s chief executive, and the firm’s former Assistant Treasurer Edith O’Brien for the unlawful use of about $1 billion in customer funds that “harmed thousands of customers and violated fundamental customer protection laws on an unprecedented scale.”

Read more...

18 Major US Corporations Use Tax Havens to Skirt $92 Billion In U.S. Taxes: CTJ

Offshore accountsApple is not alone.  Dell, Microsoft and Fifteen Other Fortune-500 Corporations’ Financial Reports Indicate Their Offshore Profits Are In Tax Havens; Hundreds More Likely Do the Same

Recent Congressional hearings on the international tax-avoidance strategies pursued by the Apple corporation documented the company’s strategy of shifting U.S. profits to offshore tax havens. But Apple is hardly the only major corporation that appears to be engaging in offshore-tax sheltering: seventeen other Fortune 500 corporations disclose information, in their financial reports, that strongly suggests they have paid little or no tax on their offshore holdings. It’s likely that hundreds of other Fortune 500 companies are also engaging in similar strategies to take advantage of the rule allowing U.S. companies to “defer” paying U.S. taxes on their offshore income.

Read more...

How Did Major Hedge Fund Earn 30% Returns for 20 Years Straight? Lots of Cheating

SAC hedge fundHow would you like to invest $10,000 and watch it grow over 20 years into $1,461,920? Well that's what happened at the giant hedge fund, SAC Capital Advisors, which made a 30% return for 20 years in a row.  

How is it possible to make such profitable investments again and again and again? The U.S. Attorney for Manhattan, Preet Bharara, believes he has the answer: SAC is cheating ... again and again and again. In fact, Bharara suggests that hedge funds that engage in insider trading may be rotten to the core:

Read more...

New York AG claims more proof of bank mortgage abuses

Wells FargoNew York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses.

Schneiderman - who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal - said other states had found similar problems.

Read more...

8 companies that most owe workers a raise

ComcastWhile CEOs of companies with the strongest financial results are usually paid hundreds of millions of dollars, rank-and-file employees at these corporations are often less fortunate. Only a small number of the best performing companies give raises or bonuses to most employees that are tied to earnings. Why shouldn't these companies spread the wealth?

Several of the American most successful companies have large numbers of low-paid employees. These people work in retail stores and call centers or clean hotel rooms. Some do not make a great deal more than the minimum wage.

Read more...

CEO Pay 1,795-to-1 Multiple of Wages Skirts U.S. Law

Ron JohnsonFormer fashion jewelry saleswoman Rebecca Gonzales and former Chief Executive Officer Ron Johnson have one thing in common: J.C. Penney Co. (JCP) no longer employs either.

The similarity ends there. Johnson, 54, got a compensation package worth 1,795 times the average wage and benefits of a U.S. department store worker when he was hired in November 2011, according to data compiled by Bloomberg. Gonzales’s hourly wage was $8.30 that year.

Read more...

What It Costs the Worst Bank to Be Truly Evil

jpmc$16 billion. That's how much JPMorgan Chase has paid in fines, settlements and other litigation expenses in the last four years alone.

More than half of that amount, $8.5 billion, was paid out in fines and settlements as the result of illegal actions taken by bank executives.
$8.5 billion is almost 12 percent of the net income the mega-bank brought in during the same period.

Read more...

Page 7 of 65

 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!