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The shift from pro-market to pro-business

Aug 16, 2012
In the midst of the U.S. financial crisis, the economist Luigi Zingales became known for hyping a "managed bankruptcy" for the big banks. That way the banks' private investors, creditors and executives would bear most of the costs of their bad investments.
Posted In: Banks, capitalism

LIBOR scandal reaches major U.S. banks

Aug 16, 2012
The other shoes have finally dropped in the LIBOR investigation. Seven other shoes, in fact. Attorneys general in New York and Connecticut have subpoenaed seven of the world's biggest banks, including Citigroup and JPMorgan Chase here in the U.S.
Posted In: Banks, LIBOR

States investigate JPMorgan, Citigroup, and others over LIBOR

Aug 16, 2012
today, there's word that a number of other banks -- including JPMorgan Chase and Citigroup -- are being subpoenaed by regulators in New York and Connecticut. It's all about charges that the banks rigged an interest rate called LIBOR.
Posted In: Banks, LIBOR

Standard Chartered shares up after settlement

Aug 15, 2012
Standard Chartered was on the brink of going to court because of allegations that it hid thousands of financial transactions with Iran. Instead, the bank settled without admitting any wrongdoing.
Posted In: Banks, Standard Chartered, settlement

Three steps to boost investor confidence

Aug 9, 2012
Banks are still huge, financial scandals still break -- even after the recession revealed flaws in the financial system. A commentator gives his short-and-sweet solution.
Posted In: Financial scandals, LIBOR, investor confidence, Banks, reform, Glass-Steagall, Paul Volcker

Standard Chartered diverges from other bank scandals

Aug 9, 2012
The scandal over British bank Standard Chartered is taking some interesting turns. This week New York's financial regulator charged the bank with concealing transactions for Iranian clients -- breaking U.S. sanctions against Iran. Standard Chartered could lose its New York license, which would be devastating.
Posted In: Banks, Standard Chartered, London

U.S. proves popular for money laundering

Aug 7, 2012
Standard Chartered denies passing Iranian funds through the U.S. But after other laundering cases, why is the U.S. popular for cleansing money?
Posted In: Banks, money laundering, Standard Chartered

Standard Chartered bank struggles against scandal

Aug 7, 2012
Shares of the British bank Standard Chartered are tanking in London this morning -- down some 25 percent. New York financial regulators say the bank concealed billions of dollars of illegal transactions for Iranian customers.
Posted In: Banks, Standard Chartered, Iran

Standard Chartered shares down following Iran allegations

Aug 7, 2012
Standard Chartered could soon have its banking license revoked in the nation's financial center, because of allegations that the bank has been hiding tens of thousands of secret transactions with Iran.
Posted In: Banks, Standard Chartered, Iran

How bank-rate rigging hits the real world

Aug 6, 2012
The LIBOR rigging scandal extends beyond Wall Street. Local governments allege fake rates made budget shortfalls worse and hit public services.
Posted In: LIBOR, Banks, Barclays

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