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Madoff to Magazine: 'Government Is a Ponzi Scheme'
By not in system - AOL NewsNEW YORK -- Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme. "The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators. Timothy A. Clary, AFP / Getty Images Bernard Madoff says in an interview with New York magazine that new regulatory reform enacted after the recent national ...
States to Unveil Joint Probe Into Foreclosures
By not in system - AOL NewsWASHINGTON (Oct. 13) -- Up to 40 state attorneys general are preparing to launch a joint investigation into the mortgage industry over the foreclosure-document mess. If the states have their way, mortgage companies will have to revamp the way they handle foreclosures, pay penalties for violations and expand help to homeowners on the verge of foreclosure. The top law enforcement officials of states around the country are already weighing the outlines of a potential settlement with the industry, said Iowa Attorney General Tom Miller, who will lead the investigation. The inquiry will be ...
Bank of America Delays Foreclosures in 23 States
By not in system - AOL NewsBank of America (BAC) will delay foreclosures on properties in 23 states to review whether its employees signed off on foreclosure documents without reading them, making the largest U.S. bank at least the third in recent weeks to suspend foreclosures. ...
'Too Hot' Former Citi Employee Defies Chase
By Michelle Ruiz - AOL News(June 7) -- The former Citibank employee who claimed she was fired because of her distractingly good looks could soon lose another job and file a brand new lawsuit over a potentially controversial body part: her mouth. Debrahlee Lorenzana says her Citi-slamming media blitz led her new employer, JPMorgan Chase, to threaten disciplinary action "up to and including termination" over appearances and interviews they say bash the banking industry and breach the company's code of conduct. Saswat Pattanayak / Splash Debrahlee Lorenzana's attorney said the former Citibank employee will take legal ...
US Bank Bombed Amid Greek Budget Furor
By Joseph Schuman - AOL News(Feb. 16) -- A small time bomb exploded at an Athens office of JPMorgan Chase on Tuesday evening amid widespread anger at foreign bankers and their role in the financial crisis that's forcing Greece to make painful budget cuts. Police told Reuters the bomb caused only minor damage to the building's exterior. Emergency vehicles were reportedly blocking off the street where the bank's offices are located in the capital's ritzy district of Kolonaki. A warning was called in to an Athens newspaper ahead of the explosion, The Associated Press reported. There was no immediate claim of ...
On Obama White House Visitor Log: Lobbyists, Movie Stars and Bailed Out CEOs
By Emily Miller - Politics DailyThe White House released a visitor's log late Friday that revealed many of DC's biggest Democratic lobbyists have made frequent visits, despite President Obama's stringent new lobbying rules. The record of visitors also looks like a red carpet list of celebrities and Hollywood movie stars. And CEOs of all those Wall Street banks the government bailed out earlier this year came calling frequently, too. Many of the Democratic lobbyists who frequented the White House this year are also among the highest earning lobbying firms in 2009, including power player Steve Elmendorf of Elmendorf Strategies ...
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