By John Solomon
How the government's punishing of the exposure of official wrongdoing can linger for years
R&B star R. Kelly's Chicago-area mansion has been sold for $950,000 in a foreclosure auction.
The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
The national Occupy Wall Street movement has been heating up again — resulting in about 50 arrests in Boston early Tuesday and plans for a Manhattan "Millionaires March" to the homes of some of New York City's wealthiest residents.
Wall Street stocks took another tumble Wednesday after a brief recovery as worries widened over the health of U.S. and European banks hit hard by debt crises on both sides of the Atlantic.
A picture hangs in Bill McDermott's basement that his son treasures more than any other.
In a much-discussed live televised forum last week, Jamie Dimon, CEO of JP Morgan Chase, asked Federal Reserve Chairman Ben S. Bernanke the 64-trillion-dollar question. While most commentators focused on the apt question, it was Mr. Bernanke's answer that shocked me when I heard it - and ought to shock the nation much more than it has so far.
Stocks were lower for a fourth straight day with banks and energy companies leading the decline. Worries about a slowing economy also continued to weigh on the broader market Monday.
Dear Sgt Shaft: I have a brother who is currently incarcerated and receiving his 10 percent of his veteran disability benefits. He has a daughter who is 21 and is having a hard time. She would like to make a claim of apportionment. What V.A. form would she need to complete? Are there any additional proof or paper work that needs to be submitted with it?
Earlier this month, President Obama announced William Daley (brother of Chicago Mayor Richard Daley and former executive at JP Morgan Chase) as his new chief of staff, replacing Chicago mayoral candidate Rahm Emanuel. Less well known is the fact that Mr. Daley was a member of the board of trustees for Third Way, which bills itself as an "influential think-tank that creates and advances moderate policy and political ideas."
Moderate Democrats and the business community on Thursday hailed President Obama's choice of banking executive William Daley as his next chief of staff while some progressive activists balked at the return of a centrist Washington veteran whom they warned would alienate Mr. Obama's left flank ahead of 2012.
The economy and markets got off to a strong start in the new year as signs emerged Monday of gains in manufacturing, construction and employment.
Why are many of the big Wall Street banks imposing a freeze on foreclosures when the average number of days to foreclose on a property, according to Lender Processing Services, is at an all-time high of 478 days?
Save your house by not paying your mortgage. Sounds crazy, doesn't it? But for more than a million homeowners, this might be the right answer. Those homeowners, for whatever reason, have defaulted on their first mortgage but continue to pay their second mortgage on time. This has created a crazy situation in which the lender holding the second lien is reporting a performing loan while the lender holding the first lien is reporting a delinquent loan. The majority of these second liens are held in the loan portfolios of just four banks - Bank of America, Citibank, J.P. Morgan Chase and Wells Fargo. These same four banks service most of the first mortgages owned by bondholders or other banks.
With the ink of President Obama's signature on the Barney Frank-Chris Dodd financial reform bill barely dry, the next bank bailout already has begun. How can that be, you might ask? Weren't we promised that this "landmark" legislation would end bank bailouts? Weren't we promised that this legislation ushered in a new era of transparency on Wall Street? Could it be that the politicians lied to us? Say it ain't so - but it is.
