26 Ekim 2011 Çarşamba

Ponzi Banking and Finance: Sins of Big Banks

Worst Banks/Financiers:
According to Gary Rivling Big banks behave badly and commit deadliest sins: 
  • JPMorgan Chase kicks 54 military families out of their homes—despite a law against doing so.
  • Wells Fargo gives bonuses to loan officers to put minority borrowers into high-priced subprime mortgages—internally dubbed “ghetto loans.”
  • Citigroup, Bank of America, and Goldman Sachs all pay huge fines to settle charges they duped their own clients.
  • Goldman Sachs assists in Europe's economic collapse by helping Greece mask the truth about its finances.
  • JPMorgan turns a blind eye to Bernie Madoff's deceptions.
  • Bank of America pays $137 million to settle government claims it rigged the municipal-bond market.
  • Despite these and other unpardonable sins, banks showers tens of millions of dollars in bonus money on top executives.
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