TV News LIES

Friday, Apr 25th

Last update02:30:11 AM GMT

You are here All News At a Glance Economic Glance

Revealed: JPMorgan Paid $190,000 Annually to Spouse of Bank's Top Regulator

On May 10 of this year, Jamie Dimon, Chairman and CEO of JPMorgan, announced that billions of insured deposits at his bank had been invested in high risk derivatives and had sustained at least a $2 billion loss.  The Department of Justice and FBI have commenced investigations.  Dimon is expected to announce the current extent of those losses this Friday in an earnings conference call.

Following the May 10 announcement, there were numerous calls for Dimon to step down from the Board of Directors of the Federal Reserve Bank of New York.  That organization is the primary regulator of the firm. There was widespread public outrage that the CEO of a bank had no business serving on the governing body of his regulator.  (The New York Fed has a long history of such conflicts.)

Read more...

24% of senior financial execs consider unethical or illegal conduct needed for success

Sr. execs OK greedJust in case recent headlines didn’t offer a clue, a new study revealed what most people already think: Unethical behavior and illegal business practices seems to be part of a Wall Street job description.

A survey of senior executives at financial firms in the U.S. and the U.K., released Monday, found that nearly a quarter of respondents, or 24%, said they consider engaging in unethical or illegal conduct as a necessary ingredient for success in the financial world.

Read more...

Imagining a Universe Without Central Banks

Yesterday, the saints at central banks in China, Europe and the UK said they would perform what could only be a miracle. The world economy wheezes, rattles and shakes because it has been poisoned by too much debt. The central bankers offer a cure — more debt!

The US had no central bank before 1913. It had higher rates of GDP growth back then. It had a stronger currency too — the dollar of 1913 was worth about the same as a dollar of one hundred years earlier. Now, it’s worth about 3 cents…and disappearing fast. On the surface of the argument, it would appear that America’s central bank has actually made things worse. Maybe that is a coincidence; post hoc ergo propter hoc…and all that. But maybe there is a cause and effect relationship. Maybe a central bank CAUSES the economy to produce less wealth…and CAUSES the currency to lose value.

Read more...

Banking scandal: how document trail reveals global scam

The interest rate rigging scandal that has engulfed Barclays was the result of a coordinated attempt at collusion by traders working for a coterie of leading banks over at least five years, according to a series of lawsuits and legal rulings filed in courts in Asia and North America.

In a 28-page statement of facts relating to last week's revelation that Barclays had been fined a total of £290m, the US Department of Justice discloses how a network of traders working on both sides of the Atlantic conspired to influence both the Libor and Euribor interest rates – the rates at which banks lend to each other. It was, in effect, a worldwide conspiracy against the free functioning of the market.

Read more...

Barclays will pay $450M for manipulating interest rates

Barclays BankBarclays and its subsidiaries will pay more than $450 million to settle charges that they tried to manipulate interest rates that can affect how much people pay for loans to attend college or buy a house.

Barclays is one of several major banks reportedly under investigation for such violations.

Read more...

Wells Fargo May Send Some Jobs to India, Philippines

Wells FargoWells Fargo & Co.the lender looking to trim more than $1.7 billion in quarterly expenses by the end of this year, may move some jobs overseas.

Roles in technology, the retirement division and other business lines could shift to India and the Philippines as part of a companywide review, Bridget Braxton, a spokeswoman for the San Francisco-based bank, said yesterday. News 14 Carolina reported a review for the retirement business earlier, citing an internal memo from a Wells Fargo executive it didn’t name.

Read more...

JPMorgan Chase Gets $14 Billion Per Year In Government Subsidy

JPMorgan CEO Jamie DimonAt least some of the billions of dollars that JPMorgan Chase lost gambling on credit derivatives once belonged to you.

Outraged by Merkley’s impunity, Dimon roared that his bank only took the government’s lousy bailout money and only borrowed at rock-bottom interest rates from the Federal Reserve because the government insisted that it do so, for the sake of appearances and the good of the country. And JPMorgan is the country’s greatest hero, so it had no choice but to accept all of this free money the government was handing out. It certainly did not need it.

Read more...

Page 14 of 67

 
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!