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
- Why Haven’t Bankers Been Punished? Just Read These Insider SEC Emails
- How Mark Zuckerberg’s Altruism Helps Himself
- The Whistleblower’s Tale: How An Accountant Took on Halliburton
- No, the Banks Aren’t Losing
- Red Cross Demands Corrections to Our ‘Misleading’ Coverage. Here’s Our Response
- The Trouble With Disclosure: It Doesn’t Work
- Rent to Own: Wall Street’s Latest Housing Trick