CNBC is the Fox News of financial journalism in that few consider them to be journalists. The financial press in general has a reputation for being courtiers for Wall Street in hopes of finding a job or spouse in the halls of money. But CNBC fails to even offer the patina of journalistic pretense most of the finance press displays. They are, quite clearly, hacks posing as journalists.
|By: DSWright Monday September 30, 2013 12:02 pm|
|By: DSWright Thursday September 19, 2013 11:20 am|
After lying to regulators, manipulating the market, and putting out fraudulent documents JPMorgan will pay a relatively small fine and move on. Because when the powerful repeatedly break the law the consequences are never very severe. If we stopped these Wall Street banksters from making criminal profits they might stop making criminal profits – then where would our economy be?
|By: DSWright Wednesday September 18, 2013 12:25 pm|
Now the Commodities Future Trading Commission (CFTC) wants JPMorgan to admit to market manipulation after investigating the bank.
|By: masaccio Sunday March 24, 2013 4:01 pm|
Last week, the House Agriculture Committee voted to cut regulation of derivative transactions, and to insure that derivative transactions could take place inside FDIC insured banks. Six Democrats voted for the bill according to Gaius Publius at AmericaBlog, including Ann Kuster NH-2, one of those true progressives supported by the likes of EMILY’s List. It certainly is discouraging to see the party that claims to represent the interests of everyday Americans holding hands with the banksters.
|By: DSWright Monday March 18, 2013 8:30 am|
When dealing with regulators from the Office of the Comptroller of Currency (OCC) JP Morgan Chase CEO Jamie Dimon reportedly started screaming and told regulators he did not believe they should have the documents they were required to have under the law.
|By: masaccio Friday March 15, 2013 3:18 pm|
It’s not all fun and games to listen to these interminable Senate Hearings, but some are more fun than others. Can Carl Levin replace Preet Bharara?
|By: Elliott Friday March 15, 2013 6:28 am|
This morning the Senate Homeland Permanent Subcommittee on Investigations investigates the $6.2 billion dollar trading loss JP Morgan Chase incurred when they “ignored risks, misled investors, fought with regulators and tried to work around rules as it dealt with mushrooming losses in a derivatives portfolio“.
|By: masaccio Monday May 28, 2012 4:00 pm|
The New York Times served up another of those paeans to the victorious financial speculators on Sunday. This one glorifies a 38-year old Boaz Weinstein of Saba Capital. He is one of the people who early on recognized that something was going on with the credit default swaps market in the City of London. The NYT wants you to know that they are the winners and you are the losers.
|By: fatster Monday May 14, 2012 6:00 am|
Fatster continues news roundups, with links to stories about London whale, German austerity, Spain’s Indignados, Israel, Occupy, Yglesias, Rand Paul, Scott Walker, fracking, whooping cough, surfer’s wave, Agenda 21, Agent Orange, Accretive Health, Guttmacher, Institute, and much more.