Posts Tagged ‘ Bank of America ’

holding out for holder to prosecute libor liars

“Tim Geithner had evidence of a financial crime of epic proportion — so he wrote a memo,” quipped Charles Gasparino in the New York Post yesterday. This one-sentence observation of Geithner’s inaction in the face of concrete evidence of  Libor-rigging is perfect. It captures well how certain of the banking regulators continually enable fraud and…

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the operational hazards of everyday banking

The Irish Times is running a story today that provides a perfect example of why large, highly interconnected financial institutions can unexpectedly become very dangerous. Titled “Ulster Bank counts the cost of catastophic IT meltdown,” the report describes the misery being experienced by Ulster Bank’s customers and management as a result of a bungled software…

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has the great big bank die off begun?

Bob Diamond and Jamie Dimon are two of the best bankers America has ever produced, and JP Morgan Chase and Barclays are among the great banks of the world. These facts might be lost in the current cacophony of public debate, yet their records of achievement are undeniable and generally admirable. That both proud financial…

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cheers for bank of america’s brian moynihan

Is there anything in particular that you oppose in the Basel III proposal? Did they go too far? You could have an opinion about various components of it but the reality is that the old Basel rules allowed people to leverage too much and we found that out. The new rules change that. We’ll get…

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