National Credit Union Administration Sues Wall Street Banks For Fraud In Mortgage Market

By: 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.


Preet Bharara Explains Why He Doesn’t Prosecute Banksters

By: Thursday June 23, 2011 12:30 pm

Preet Bharara’s explanation for his failure to prosecute banksters is unconvincing. The plain fact is that he doesn’t really think anyone did anything wrong. How could they? They are the Masters of the Universe!

National Credit Union Administration Sues JPMorgan Chase for Misleading Offering Materials In Sales of RMBSs

By: Tuesday June 21, 2011 12:30 pm

The NCUA sues JPMorgan Chase for non-disclosure in offering materials for real estate mortgage-backed securities. Too bad Preet Bharara hears no evil, sees no evil, tastes no evil, smells no evil, and touches no evil, meaning that he has nothing to say about securities violations that don’t affect hedge funds.

The National Cooperative Administration: A Job Creation Proposal

By: Monday April 18, 2011 9:00 am

With unemployment still high and job growth anemic, finding jobs for Americans should be the top priority of our elected officials. To deal with this serious crisis, I propose the creation of a National Cooperative Administration to encourage the creation of worker-owned businesses.

Grow the Base, Strengthen the Base: Lessons from the CCF, Part Three

By: Monday June 21, 2010 4:20 pm

The Cooperative Commonwealth Federation was a political party in Canada that formed during the Great Depression. Most of its support came from the rural cooperative movement among farmers. Cooperative members made up a large part of its voters, and many of its leaders had held elected posts in cooperatives. Organized labor was another important part of its base of support. So, when the CCF took control of the provincial government of Saskatchewan in 1944, it passed legislation to increase the power and membership of the organization that made up its base of support.

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