Another Banking Scandal

As financial investigations go, it literally can’t get any bigger than this: The world’s biggest banks are now being investigated for rigging the world’s biggest market. In a widening inquiry, as many as 15 banks — among them, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan Chase and UBS — are under scrutiny by international officials…

As Housing Market Stays Hot, Investors Seem to Have Cooled

By Margaret Chadbourn Wall Street’s billion-dollar bargain hunt for homes in depressed markets across the United States appears to have plateaued, potentially helping to cool the steep run-up in home prices and bring first-time buyers back into the market. “Investors helped stabilize a housing market that was in free-fall and they did so by taking…

Minnesota Woman Says Bank Took Her Money, Foreclosed Anyway

Filed under: News, Foreclosures Mardee Jerde is homeless today. At 9 a.m., a representative of JPMorgan Chase, along with a real estate agent and a locksmith, arrived to change the locks on her former three-bedroom house in Rush City, Minn. She’s hoping that a last-ditch legal effort can get her home back, but meanwhile this…

Sugar: Does It Make You Dumb?

“Sugar in the morning/Sugar in the evening/Sugar at suppertime…” My late father would often burst into those lyrics from the 1958 McGuire Sisters hit “Sugartime.” Little did he know it was a recipe for asking, “Morning — that’s the one where the sun is RISING, right?” Yes, a new UCLA study (published in the May…

Dancing With Derivatives ‘Pas De Deux’

The newly coined phrase, from Maureen Dowd of the New York Times comes from the latest two-step by Jamie Dimon, CEO at JPMorgan, where he managed to orchestrate Wall Street’s latest big bank debacle.  He’ll soon be “Dancing with the Stars” in front of congress explaining his mis-adventure that created a $2 Billion trading loss, which could exceed $3 Billion when the dust settles, from a credit-default…