So, Wall Street, what have you learned the last five years? What is the lesson?
|By: DSWright Thursday September 26, 2013 8:35 am|
|By: DSWright Tuesday September 24, 2013 8:35 am|
The National Credit Union Administration (NCUA), a government regulator, has filed a lawsuit against Morgan Stanley, Barclays, JPMorgan, Credit Suisse, Royal Bank of Scotland Group, and UBS for selling fraudulent mortgage-backed securities to credit unions. The sales of these securities amounted to $2.7 billion. Goldman Sachs, Wachovia, Wells Fargo, and Ally Securities also allegedly sold faulty securities according to one of the credit unions involved in the lawsuit.
|By: Steve Horn Monday September 16, 2013 7:15 pm|
A peek behind the curtain show the study’s results – described as “unprecedented” by EDF – may have something to do with the broad spectrum of industry-friendly backers of the report which include several major oil and gas companies, individuals and foundations fully committed to promoting the production and use of fracked gas in the U.S.
|By: DSWright Wednesday August 21, 2013 1:10 pm|
When things don’t go your way it is really a learning experience – life is like that sometimes. We all have to accept that life isn’t fair and sometimes we lose despite what we think should happen – oh, unless we are Goldman Sachs.
|By: DSWright Thursday August 8, 2013 12:35 pm|
One of Wall Street’s Too Big To Fail banks is under criminal investigation for its practices in the mortgage market. JPMorgan Chase & Co. disclosed in a SEC filing that it was under criminal investigation and had already been notified by the Department of Justice’s civil division that it had violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007.
|By: DSWright Friday August 2, 2013 6:40 am|
Fabrice “Fabulous Fab” Tourre was found liable by a jury of six counts of civil securities fraud. Tourre was at the center of Goldman Sachs’ trading in the mortgage backed security market in which Goldman Sachs helped sell poorly constructed frankenbonds made up of various people’s mortgages known as Collateralized Debt Obligations or CDOs to clients while simultaneously betting on those CDOs to fail.
|By: DSWright Monday July 22, 2013 9:10 am|
Wall Street figured out another scam. Instead of creating a doomsday securitizing machine for the mortgage market they are going old school – manipulating commodity prices for fun and profit.
|By: DSWright Wednesday June 26, 2013 8:40 am|
The corporate “ed reform” movement to privatize public education is quite lucrative – public education spending runs in the billions across the country. So should anyone be surprised that Wall Street has stepped out of the shadows to get in on the action?
|By: DSWright Monday June 10, 2013 11:15 am|
Sergey Aleynikov is set to go back to court. Aleynikov was previously a programmer for Goldman Sachs who was tried and convicted of theft of trade secrets in federal court – a conviction that was overturned on appeal. Now Aleynikov is facing charges under New York State law for the same actions that were ruled legal by the appeals court.
|By: DSWright Monday April 1, 2013 8:30 am|
Adbusters, the group that helped launch the Occupy Wall Street movement, has decided to target Goldman Sachs in its next campaign. The campaign will work like a “live action game” with points being awarded to protesters.