Why did AIG take the fall for the 2008 financial crisis while other big banks survived just fine?Continue reading
Before shutting up shop on Tuesday, the least productive Congress in recent memory managed to produce some goodies for some very special interests.Continue reading
With the news focused on JPMorgan Chase & Company's $2 billion "mistake" and company's lobbying campaign at financial agencies to permit the sort of trades that led to the loss, it's worth reviewing some other examples where industry have pushed hard to limit the reach of the Dodd-Frank financial law, arguing as JPMorgan did against a heavy hand because they could handle the risk.
The emphasis is on "some:" the list really is much longer. The law famously set in motion more than 220 rulemakings of which just under a third have been completed. Dominating the dockets of ...Continue reading
In the past two years, JPMorgan Chase and Bank of America have donated tens of thousands of dollars to a Florida nonprofit where congresswoman Corrine Brown, D-Fla., serves on the board of directors. Yet JPMorgan disclosed this contribution in a lobbying report while Bank of America did not.
There is nothing illegal about the bank’s non-reporting, experts and the megabank say. That’s because disclosure of Bank of America’s gifts—since they came from the bank’s charitable foundation—are not mandated under a law that requires all lobbying entities to report their honorary contributions to the secretary ...Continue reading
They received billions in help from the federal government to stay afloat during the worst days of the financial crisis... View ArticleContinue reading