the initial roadmap for the litigation burden that banks are facing.
It is said that white collar crime in Wall-Sreet and among the banksters’s community has been a highly lucrative business. Apparently… a ratio of 5 to 1. Maybe…. things are a going to start to change when examining at the following litigation burden that banks are facing. It’s time to have a shift of power from the TBTF who controls more than 80% to a more “UTILITIES STYLE” banking model which serve better the interests of society instead of the few 0.1% (oops.. 1%?)
let’s enjoy the show
Banks Face a Storm of Investigations and Litigation
Forecast: Continuing investigations, penalties, settlements, and indictments. Additional lawsuits filed on behalf of investors will drag on for years. Here are some details.
Regulators are looking into whether currency traders have conspired through instant messages to manipulate foreign exchange rates. The currency rates are used to calculate the value of stock and bond indexes.
Banks have been accused of manipulating energy markets in California and other states.
Since early 2008 banks have been caught up in investigations and litigation over alleged manipulations of Libor.
Banks have been accused of improper foreclosure practices, selling bonds backed by shoddy mortgages, and misleading investors about the quality of the loans.