Posted by admin / Under Bank Fraud
Out of nowehere, JPM announced 40 minutes ago that it would hold an unscheduled 5pm call to coincide with the release of its 10-Q. Rumors were swirling as to why. The reason is as follows: JPMORGAN SAYS CIO UNIT HAS SIGNIFICANT MARK-TO-MARKET LOSSES - "Fortress balance sheet" at least until Bruno Iskil gets done with it. JPMORGAN SAYS LOSSES ARE IN SYNTHETIC CREDIT PORTFOLIO - but, but, net is NEVER, EVER Gross. JPM WOULD NEED $971M ADDED COLLATERAL IF RATINGS CUT ONE-NOTCH JPM WOULD NEED $1.7B ADDED COLLATERAL IF RATINGS CUT 2 NOTCHES - how about three notches? JPMORGAN: MAY...
Published on Sunday 20th of May 2012 05:23:08 PM
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Posted by admin / Under Bank Fraud
Two recent pieces of news drive home the importance of making sure that your bank respects your Second Amendment rights. Earlier this month, McMillan Group International, LLC announced that Bank Of America had severed ties with their company specifically because, in the years since they'd opened their accounts, McMillan had transitioned into a firearms manufacturing role. From a statement released by McMillan on April 19: McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group International have been collectively banking with Bank of America for 12 years. Today Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking, Global Commercial Banking came...
Published on Sunday 20th of May 2012 05:23:08 PM
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Posted by admin / Under Bank Fraud
NEW YORK — Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners. The "Mortgage to Lease" program, which was launched this week, will be available to fewer than 1,000 BofA customers selected by the bank in test markets in Arizona, Nevada and New York. Participants will transfer their home's title to the bank, which will then forgive the outstanding mortgage debt. In exchange, they will be able to lease their home for up to three years...
Published on Sunday 20th of May 2012 05:23:08 PM
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Posted by admin / Under Bank Fraud
"That's crazy," the person says. "I can't believe they [Chase officials] did that." Almonte called for the bank to halt the debt sale, but was warned by Lazinbat that "she had better go along with the plan to sell the misrepresented asset," she later wrote in her employment lawsuit. Almonte says she refused Lazinbat's order and escalated her concerns to his boss, Helaire. Chase fired her on Nov. 30, 2009. Carole McGinn was not a party to discussions about the debt sale but confirms the thrust of Almonte's claims. "I know she [Almonte] was looking into things that they didn't...
Published on Sunday 20th of May 2012 05:23:08 PM
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Posted by admin / Under Bank Fraud
Citigroup was one of four large US banks that flunked stress tests aimed at seeing how they would hold up in a new economic crisis, Federal Reserve data showed Tuesday. Three others -- Ally, Suntrust and MetLife -- also failed the tests, while 15 other large bank holding companies passed the exercise, the Fed said. As a group, though, the 19 came through strongly, said the Fed, thanks to pressure for them to boost capital over the past three years as the financial sector digs its way out of the deep 2008-2009 recession. "In fact, despite the significant projected capital...
Published on Sunday 20th of May 2012 05:23:08 PM
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Posted by admin / Under Bank Fraud
| Share Tuesday, Feb. 28, 2012 THE ZEIT GIST Threatened Goldman Japan workers unionize Financial giant butts against tough domestic labor law as it seeks to slim down workforce By JAMES MCCROSTIE The past year has been anything but business as usual for the financial industry. Faced with a frosty economic climate, financial service companies have been busy chopping dead wood. Last year, 200,000 financial service jobs ended up on the cutting block worldwide. In Japan, that meant layoffs at famous firms including Morgan Stanley, Citigroup, HSBC Holdings, Mizuho Financial Group, and the not-so-famous, such as Spanish bank Bilbao Vizcaya...
Published on Sunday 20th of May 2012 05:23:08 PM
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