Tag: Bank of America
The American election campaign never ceases to amaze in terms of twists. The Clinton Foundation has again been the victim of a new hack carried out by Guccifer 2.0, leading to the revelation of some interesting details. Among them is an Excel file with a list of donors.
The latest news from Wall Street: according to Fortune magazine, the «Big Six» banks in the US – Bank of America, JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley – paid a total of more than 30 fines, about $110 billion, for ripping off the mortgage market and thus sparking the 2007-2008 global financial crisis…
Since 2009, it has been compulsory for all major US banks to pass an exam called a stress test. The test checks the banks’ ability to withstand sudden changes in economic and financial conditions. Put simply, it assesses the banks’ ability to survive should America experience a financial crisis similar to the one in 2007-2009. In all the years of testing, the majority of US banks have received a rating of ‘satisfactory’, and even then with a stretch of the imagination. Some banks have had to retake the exam… The results of the stress testing shows that America is living on a delayed-action mine called the US banking system, and sooner or later this mine is going to explode…
While at first the main target of prosecution on charges of discreditable mortgage practices was Bank of America, which was traditionally one of the top five, if not the top three banks on Wall Street, in autumn 2013 JPMorgan Chase topped the black list. Among Wall Street banks it has consistently occupied first place in assets (currently 2.3 trillion dollars). JPMorgan Chase will pay the U.S. government 13 billion dollars in exchange for dropping the investigation into the bank's activities in the mortgage field. An agreement to this effect was reached by the bank's management and the U.S. Department of Justice. This is an absolute record for compensations received by the U.S. government from a private business…