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Financial Services, Insurance and Banking  : Displaying 35-39 of 70


Wall Street Giants – JP Morgan and SAC – Hauled Up On Fraud Allegations
by Pratap ChatterjeeCorpWatch Blog
March 15th, 2013
JP Morgan - the Wall Street investment bank - and SAC - a major hedge fund - were hauled up Friday for alleged fraud. JP Morgan was questioned at a U.S. Senate hearing about hiding trading losses while SAC agreed to pay $614 million to settle insider trading charges.

“Fat Cat” Laws Approved In Europe To Curb Excessive Corporate Pay
by Puck LoCorpWatch Blog
March 8th, 2013
Nearly 70 percent of Swiss voters approved a “fat cat” referendum that would prohibit “golden handshake” bonuses to departing corporate bosses while the European Union approved legislation limiting bankers executive bonuses to a maximum of one year’s salary, or twice that amount if a majority of shareholders approve.

U.S. Prosecutors Build Case Against Steve Cohen, Hedge Fund Billionaire
by Pratap ChatterjeeCorpWatch Blog
February 24th, 2013
SAC Capital is one of the most profitable hedge funds in history with $15 billion in assets averaging 30 percent in annual profits for 20 years running. Today Wall Street is watching nervously as U.S. government lawyers work on a case against billionaire founder Steven Cohen for insider trading.

“Alchemy” Investigation Alleges Wall Street Fraud at Standard & Poor’s
by Pratap ChatterjeeCorpWatch Blog
February 5th, 2013
The medieval alchemists claimed they could turn ordinary metals into gold. Analysts at Standard & Poors (S&P), Wall Street’s top ratings agency, claimed that bad loans to poor people were wildly profitably. A U.S. government investigation alleges that S&P financial analysts are no different from the hucksters of yore.

Morgan Stanley Knew About “Nuclear Holocaust” Mortgage Loans, Taiwanese Lawsuit Reveals
by Pratap ChatterjeeCorpWatch Blog
January 23rd, 2013
Morgan Stanley, a major U.S. investment bank, was well aware of the problems in the sub-prime mortgage market as far back as 2005, according to documents just released in a New York court under a lawsuit brought by the China Development Industrial Bank from Taiwan.