JPMorgan Chase Lays Off 839 Employees In Fallout From Foreclosure Review Settlement The layoffs came swiftly at JPMorgan Chase and Co. last week following the announcement that a much-maligned program meant to identify and compensate borrowers who were hurt by fraudulent foreclosures was being shut down. But the heads rolling were not those belonging to … Read more
U.S. Working Poor Population Grows, As Families Struggle To Pay The Bills (Reuters) – The number of U.S. families struggling with poverty despite parents being employed continued to grow in 2011 as more people returned to work but mostly at lower-paying service jobs, an analysis released on Tuesday shows. More working parents have taken jobs … Read more
Joe Nocera: The Foreclosure Fiasco It’s been five days since Jessica Silver-Greenberg’s article on the latest bank settlement was posted on The New York Times’s Web site. I’m still shaking my head. Her “story behind the story” of the $8.5 billion settlement between federal bank regulators and 10 banks over their foreclosure misdeeds illustrates just … Read more
WHY HAVE WALL STREET’S LEADERS ESCAPED PROSECUTION FOR FRAUD RELATED TO THE SALE OF TOXIC MORTGAGES?
WHY HAVE WALL STREET’S LEADERS ESCAPED PROSECUTION FOR FRAUD RELATED TO THE SALE OF TOXIC MORTGAGES?FRONTLINE Presents The Untouchables Tuesday, January 22, 2013, at 10 P.M. on PBS www.pbs.org/frontline/untouchables www.facebook.com/frontline Twitter: @frontlinepbs #frontline More than four years since the financial crisis, not one senior Wall Street executive has faced criminal prosecution for fraud. Are Wall … Read more
The Power Of Selling Out: Your Customers As Political Capital – Onion Talks Nathan Eslinger has spent his career designing cutting-edge websites, like his extremely popular photo sharing platform Ripple. While advertising can produce revenue, Eslinger has found a far more profitable and immediate way to generate income: selling his users’ data to oppressive governments. … Read more