Tag Archives: bank takeovers

Emasculation of the Credit Raters

To the New York Times: Christine Lagarde, managing director of the International Monetary Fund, urges that major credit rating companies say nothing bad about the credit worthiness of sovereign nations [NYT, July 14, 2011]. She echoes President Obama’s plea that … Continue reading

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Colombian Friends Will Cause Havoc

JPMorgan Chase rigged the New York Stock Exchange, acquiring funds to acquire other banks, to balloon itself into Too Titanic to Let Sink, The Acquisitors, Chapter Four. JPMC then bought Madoff funds for itself and its customers. Through those banks it acquired, … Continue reading

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Break Back to Size

“We caused a lot of carnage…. Poor business judgments we made have affected Main Street,” Bank of America CEO, Brian Moynihan, told The Washington Post, December 5, 2010. But why would the nation’s largest bank make terrible mistakes spreading across the … Continue reading

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