Wallstreet
Deutsche Bank Agrees to $55 Million in Settlement
At the height of the financial crisis, Deutsche Bank mispriced derivative assets in a multibillion dollar portfolio to hide trading losses in the credit markets. Now, after a five-year investigation, they’re paying the price.
Results of the Financial Cris...
What is a fiduciary? And why is JP Morgan being accused of breaking the law?
The financial planner you (supposedly) can trust
A fiduciary is a type of financial planner who is obligated to put your interests as a client before their own.For example, let's say a fiduciary selected two fund options for you to invest in. The funds ...
More bad behavior in the banking industry leads to . . . fines
It's time we open our eyes. Yes, the rich are different from you and me – and that includes the banking industry.The latest exposure of massive misdeeds in the financial world – all things being uncovered now in the wake of the big downturn – points to ban...
Housing Crisis Culprits Punished
Thank god for whistleblowers! Countrywide Financial Corp's former vice president decided to spill the beans about some shady lending practices. Thanks to his honesty, a federal judge recently imposed a penalty of $1.27 billion on Bank of America (owners of Cou...
Madoff Victims Left To Lose Billions In Court Ruling
In order to recover money for the victims of the Bernie Madoff Ponzi scheme, Bernie Madoff's investment company first had to be liquidated. That job was issued to Irving Picard. Of the $17.5 billion stolen by Bernie Madoff, Picard has since recouped $9.82 bill...
Paving the way for banks to commit fraud
The Securities and Exchange Commission is reportedly probing whether the surging market for collateralized loan obligations is paving the way for banks to illegally hide certain risks or commit fraud.The apparent investigation into these complex securities...
Justice reigns as Wall Street cheat is punished
[dropcap]A[/dropcap] federal appeals court upheld the conviction of former Goldman Sachs Group Inc director Rajat Gupta, one of the biggest successes in federal prosecutors' long-running probe to stop insider trading on Wall Street.The 2nd U.S. Circuit Cou...