In a recent press conference detailing a myriad of criminal charges against Sean Combs (P. Diddy), Houston Attorney Tony Buzbee also revealed that the sex trafficking ring goes beyond the music industry and Hollywood and also implicates the hotel, banking and pharmaceutical industries…
Fed’s Financial Stability Report Says $20.3 Trillion Is Subject to a Run…
Last Friday, the Federal Reserve published its Financial Stability Report, which takes a detailed look at U.S. financial stability through the second quarter of this year. Although the Fed does its best to put a rosy glow on the outlook, it’s not a pretty picture…
Ex-Wells Fargo CEO Banned from Banking Industry, Fined $17 Million in Fake-Account Scandal…
A U.S. regulator on Thursday banned former Wells Fargo’s CEO John Stumpf from working in the banking industry and forced Stumpf to pay a $17.5 million fine over his role in the bank’s fake-accounts scandal. Stumpf and seven other of the firm’s former executives were charged by the U.S. Office of the Comptroller of the […]
Kamala Harris Tells Big Lie: That 2012 Mortgage Settlement Was a Good Deal for Homeowners…
The Big Whopper season is already upon us, in the form of presidential aspirants telling egregious lies about their track records. The Wall Street Journal tonight covers a section from Kamala Harris’ new book, in which she touts what a great deal she got for California homeowners in the so-called Federal-49 state National Mortgage Settlement […]
Major Bank CEOs Say Blockchain Will Underpin the Financial Industry ‘in Five Years’…
Blockchain technology could soon revolutionize the global banking industry, according to the chief executives of two major European lenders. Banks have invested millions in developing blockchain applications in recent years, as part of a broader industry effort to try to cut costs and simplify their back-office processes. The technology, which is perhaps better known as […]
GOP Makes Bogus Case for Bank Deregulation as Senate Certain to Curtail House Dodd Frank “Reform”…
We’ve argued from the crisis onward that the limited re-regulation of banking that took place was inadequate. But the Republicans are whinging that banks nevertheless are being treated badly despite a lack of evidence behind virtually all of their claims. The effort to give already-overly-coddled banks an even better deal is lumbering forward. The House […]
Italy Gets a New Prime Minister, But Not Yet a New Government, Let Alone a New Banking System…
The consequences of former Prime Minister’s Matteo Renzi’s failed referendum roll on. Italy now has a new Prime Minister, Paolo Gentiloni, who has been asked to form a new government. Assuming he can do so, one of his first tasks will be to rescue — however this is to be done — the “struggling” Italian […]