Ignore those Suspicious Activity Reports

By: Sunday July 29, 2012 10:30 am

It would be great if banks had a duty not to participate in fraud. But that would be an entirely different world, now wouldn’t it?

 

Late Night: Banksters – Whines That Don’t Age Well

By: Thursday June 30, 2011 8:00 pm

Sounds like times are tough for the banksters after all, right? Well maybe not so much. Fortune had this post which called the Bank of America $8.5B settlement a “win,” apparently because it allows BoA to “look forward” and all that. According to this from Reuters, BoA will take write-offs of a bit over $20B in total in the 2nd quarter of the year, giving them a loss for the quarter. It is figures like that that show just how skewed things are. One bank takes a write-off/loss of over $20B in a fiscal quarter and will still most likely be profitable for the year!

FDIC Takes Aim at Large Banks and Small-minded Regulators

By: Monday July 12, 2010 7:15 pm

While Ben Bernanke dreams of being the uber-regulator and chief monitor of systemic risk, a new agreement between the FDIC and other banking regulators like the Fed allows the FDIC to have independent direct access to big banks instead of making the FDIC to rely on his tame stable of regulators at the Fed.

Chalk one up for real oversight.

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