A secret confederacy of Occupy Wall Street sympathizers is criticizing the financial industry for becoming a machine to enrich itself, fleecing customers and exacerbating inequality.
After the CDO conflagration, the SEC has wrung measly settlements from banks and charged only two bankers, both low-level, while letting their bosses scamper away. That needs to change.
Morgan Stanley seems solid, but so did Dexia.
As a draft of the Volcker rule has made the rounds in the last several weeks, it has alternatively caused fits of despair and cries of exultation. And that’s just among the proponents of the regulation.
Since emerging as one of the country’s largest banks, Wells Fargo has continued to let its numbers speak for themselves. That may not be such a good thing.
Warren Buffett’s $5 billion investment in B of A is hardly a confidence booster.
About The Trade
Recent Stories by Jesse Eisinger
- When It Comes to Wall Street, Preet Bharara Is No Hero
- Rules Frozen by Trump Could Melt Away Without a Trace
- Wells Fargo Places L.A. Exec on Leave Amid Rate-Lock Fee Inquiry
- Deutsche Bank Remains Trump’s Biggest Conflict of Interest Despite Settlements
- Why Trump’s Meetings With CEOs Seeking Mergers Trouble Observers
- Trump Administration Imposes Freeze On EPA Grants and Contracts
- Here’s Another Way Wells Fargo Took Advantage Of Customers