More than $100 billion was wiped off US banks’ value today in a bloodbath on Wall Street sparked by the collapse of Silicon Valley Bank…
Wells Fargo Executive Fired and Arrested After Allegedly Urinating on an Elderly Woman During a Flight…
What kind of person would urinate on a 72 year-old woman during a flight to India…
Here Come “Programmable Dollars”: New York Fed and 12 Banking Giants Launch Digital Dollar Test…
Never let a crisis go to waste. Or a market crash for that matter…
U.S. Mega Banks Were Sitting on $6.56 Billion of Chinese Education Stocks That China Just Eviscerated…
According to their latest 13F form filings with the Securities and Exchange Commission, as of March 31, 2021 the U.S. mega banks on Wall Street held a staggering $6.56 billion in three Chinese education stocks that just had their business model put through a shredder by the Chinese Communist Party…
Wells Fargo Unexpectedly Shuts All Existing Personal Lines of Credit, Hinting U.S. Economy On the Edge…
Wells Fargo just announced that it’s shutting down all of its existing personal lines of credit – a popular product offered by the retail-focused Wall Street giant – a move that will likely infuriate legions of customers…
The Fed Announces New Bank Stress Tests: Will Look at What Would Happen if a Major Counterparty Defaulted…
Back in the days when we actually had an Office of Financial Research (OFR) (before its funding and staff were gutted) we learned that the Fed was actually conducting its stress tests all wrong…
Virgin Island Attorney General Issues 15 Sweeping Subpoenas for Jeffrey Epstein Financial Accounts…
U.S. Virgin Island Attorney General Denise George has expanded her investigation into what she calls the “Epstein Enterprise” by filing 15 sweeping subpoenas to eight financial institutions in which convicted sex offender Jeffrey Epstein held at least 35 specifically named accounts. Among the banks subpoenaed are: Wells Fargo; Silicon Valley; Northern Trust International Banking Corporation; […]
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds…
Among the toxic contributors to the financial crisis of 2008, few caused as much havoc as mortgages with dodgy numbers and inflated values. Huge quantities of them were assembled into securities that crashed and burned, damaging homeowners and investors alike. Afterward, reforms were promised. Never again, regulators vowed, would real estate financiers be able to […]
Wells Fargo to Pay $3B in Settling Criminal and Civil Investigations Into Its Fraudulent Sales Practices…
Wells Fargo has agreed to pay $3 billion and admit wrongdoing to settle criminal and civil investigations with the Justice Department and the Securities and Exchange Commission over its fraudulent fake-account scandal, the U.S. Attorney’s Office said Friday. “This case illustrates a complete failure of leadership at multiple levels within the bank,” said U.S. Attorney […]
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 […]
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