“They violated every goddamn law in the book,” says Jack Blum, an attorney and former Senate investigator who headed a major bribery investigation against Lockheed in the 1970s that led to the passage of the Foreign Corrupt Practices Act. “They took every imaginable form of illegal and illicit business.” – Gangster Bankers Too Big to [...]
Tag Archives | banking
Chambliss Blasts Grover Norquist, but Larger Fight Centered on Elizabeth Warren
“I care more about this country than I do about a 20-year-old pledge.” – Senator Saxby Chambliss GROVER NORQUIST has no plan to pay down the debt, Chambliss charges. That’s because Norquist and the American right really do want to drown government in the bathtub. But if Republicans choose to listen to people championing this [...]
BARCLAYS Bob Diamond Resigns over LIBOR Scandal
This is unbelievable, shocking stuff. A sizable chunk of the world’s adjustable-rate investment vehicles are pegged to Libor, and here we have evidence that banks were tweaking the rate downward to massage their own derivatives positions. The consequences for this boggle the mind. For instance, almost every city and town in America has investment holdings [...]
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