Banks (or Why Credit Unions Are Better)
On television, in interviews and in meetings with investors, executives of the biggest U.S. banks -- notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- make the case that size is a competitive advantage. Why Should Taxpayers Give Big Banks $83 Billion a Year?
Spanish doctors told to prescribe cheaper generic drugs | World news In a move designed to save €2.4bn (£2.1bn) a year, Spain's socialist government has passed a law forcing doctors and pharmacies to prescribe generic drugs rather than the more expensive brand names sold by pharmaceutical companies.
Ed Murray/The Star-Ledger Mark Conca in front of his Caldwell home, he is having trouble with his mortgage holder Bank of America. As a real estate agent, Mark Conca has watched homeowners struggle to make their mortgage payments. He’s seen a lot of short sales and foreclosures in recent years, and he’s even assisted homeowners looking for mortgage modifications. Homeowner says Bank of America foreclosure notice doesn't add up
In recent weeks, , the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement, said the people briefed on the talks. Mr. Schneiderman and top prosecutors in some other states have objected to the proposed settlement with major banks, saying it would restrict their ability to investigate and prosecute wrongdoing in a variety of areas, including the bundling of loans in mortgage securities. But Mr. Donovan and others in the administration have been contacting not only Mr. Schneiderman but his allies, including consumer groups and advocates for borrowers, seeking help to secure the attorney general’s participation in the deal, these people said. Schneiderman Is Said to Face Pressure to Back Bank Deal
Aug 22, 2011 This morning a report by Bloomberg News shatters everything we thought we knew about the US financial crisis. In 2008, as the financial crisis descended into chaos that rattled the foundations of the country, the Federal Reserve announced a $700 billion bank bailout called TARP, in addition to a $160 billion public bailout meant to bolster the balance sheets of America’s biggest banks. As the bets they’d made turned bad and lax regulations required them to have little cash on hand to deal with such a crisis, the Fed was forced to step in as lender of last resort, or face the potential insolvency of America. Today, for the first time, we find out that’s only half the picture—literally. US Made $1.2 Trillion in Secret Loans to 10 Biggest Banks
Banking giant plans to cut 25,000 more jobs - Business - World business
News of the World phone-hacking whistleblower found dead | Media Sean Hoare, the former News of the World showbusiness reporter who was the first named journalist to allege that Andy Coulson was aware of phone hacking by his staff, has been found dead .
This principle was on display during the final months of the Bush administration, when a huge lifeline for the banks was made available with few strings attached. It was equally on display in the early months of the Obama administration, when President Obama reneged on his campaign pledge to “change our bankruptcy laws to make it easier for families to stay in their homes.” And the principle is still operating right now, as federal officials press state attorneys general to accept a very modest settlement from banks that engaged in abusive mortgage practices. Why the kid-gloves treatment? Money and influence no doubt play their part; Wall Street is a huge source of campaign donations, and agencies that are supposed to regulate banks often end up serving them instead. Letting Bankers Walk
Jailed for cashing Chase check at Chase bank AUBURN, Wash. - Buying his own home was a big accomplishment for construction worker, Ikenna Njoku, of Auburn. He’s only 28 years old. “I was really excited. For the first time, I actually got to buy a lawn mower, mow my lawn and everything,” said Njoku.