New Orleans I love these big, fat whoopers that the big corporate whoops stand and piously tell about working for their little shareholders, pensioners, and old ladies in Des Moines, especially because it is crystal clear that if they don’t treat these publicly owned companies as private preserves, they are only accountable to the …
Tag: wall street
The Wall Street Journal Thinks Hillary is Too Close to Wall Street!
New Orleans Did the sun just rise in the west? Is down up and up now down? Did hell just freeze over? What’s up with the world? Why do I wonder? Simply put when the rightwing editorial page of the Rupert Murdock owned Wall Street Journal makes the case that Hillary Clinton is too close …
How can Billion Dollar Fines be Little More Than Water off a Duck’s Back?
New Orleans I hate to admit it, but to me a billion dollars still seems like a whole lot of money. Unfortunately, I’m afraid saying so makes me hopelessly hide bound and old school. Why? Because the government seems to be passing out billion dollar fines like candy to banks, utility companies, oil …
How Much Puff versus Pay in Proposed JP Morgan Chase Settlement?
New Orleans My goodness, hysteria has broken out among the financial chattering class with the news of a $13 billion proposed settlement between JP Morgan Chase and the Justice Department and Federal Housing Finance Agency over the bank’s handling of the mortgage crisis. The lead editorial in the Wall Street Journal claimed variously that parts …
Another Billion in Subprime Losses for Wells Fargo and Ocwen
New Orleans A billion here, a billion there, and the next thing you know, you’re talking about real money. This is another line on the headstone of the subprime mortgage industry that was such a key player in the Great Recession. News that investors took another unexpected loss of a billion bucks in these tranches …