Posts under ‘Bank Failure’

When you subvert capitalism by saving the corporations from themselves. You no longer have a capitalist society but a fascist one – by definition.

The latest MBS Trusts legal complaint. This time it is Wells Fargo suing JP Morgan Chase. 5-years after the financial bust the status quo is almost unchanged.

Earnings reporting looks to finish on weakness. Another bank goes to the receivers. Consumer credit expands further, yet the economy shows signs of reversal.

Banks wouldn’t have to spend nearly as much on lobbying if they weren’t so crooked. Then again they’ve proven that lobbying provides an excellent return.

So far so good with earnings. Our politicos continue to play budget brinksmanship. Deutsche Banks gets sued for civil fraud. The FDIC takes 5 more banks.

Zero Interest rate policy and excess reserves allow the banks to make money risk free using our tax Dollars. AKA the back door bank bailout.

Strategic default, expect to see more, or the revenge of the middle class. An interesting look at the concept of strategic default, who does it and how.

Q 1 GDP comes in weak. Kansas City Fed does a sharp reversal. The IRS starts to look at the REMIC’s, if they lose their tax exempt status it could get ugly.

The real estate bubble and current crisis was built on fraud and more fraud. The lack of prosecutions to date is a national shame and frankly unconscionable.

Thanks to MATTHEW BARAKAT, AP Business Writer for a fine article posted below. Or read it at SF Gate Tuesday, April 19, 2011 (04-19) 17:03 PDT Alexandria, Va. (AP) – A jury on Tuesday convicted the majority owner of what had been one of the nation’s largest mortgage companies on all 14 counts in a [...]