Federal and state prosecutors are closing yet another chapter in its investigation related to banks’ roles in the financial crisis. To that end, Goldman Sachs has agreed to pay $5.06 billion to settle claims it misled mortgage bond investors during the period leading up to the crisis. [More]
financial crisis
Morgan Stanley To Pay $2.6B To Settle Charges Of Selling Troubled Mortgages Leading Up To The Financial Crisis
By 2.26.15
The Department of Justice has struck a multi-billion dollar deal with Morgan Stanley in what is expected to be one of the last major steps in resolving investigations related to banks’ roles in the subprime mortgage crisis. [More]
What Wall Street Did To Earn The Ire Of Those Occupying It
By 10.27.11
If you need a catchup-slash-refresher on why those folks down at Occupy Wall Street are so mad at the street they’re occupying, ProPublica has put together a nice juicy primer. [More]
SEC Warns S&P It May Sue Them
By 9.28.11
In an unprecedented move, the SEC warned S&P that it might be suing it over its rating of a mortgage-backed bond. It’s the first warning a credit rating firm has gotten over its behavior leading up to the financial crisis. [More]
New Trailer For "Inside Job" Financial Crisis Documentary
By 8.31.10
Get ready to slake your thirst for populist rage. Inside Job is a new documentary coming out in October that aims to expose the truth about the true architects of the financial implosion of 2008. You can probably guess from the title whom they’re fingering. Matt Damon is the narrator and it’s released by Sony Pictures Classics. Here’s the trailer: [More]
USPS Suggests Cutting Saturday Delivery And Increasing Rates
By 3.2.10
The United States Postal Service is continuing its long slide into suckage according to a new report delivered by Postmaster General John E. Potter this morning. People sent far less mail last year (“more than double any previous decline,” says the Washington Post) and labor costs continue to rise, which helped the USPS lose $3.8 billion in 2009. [More]
FDIC May Ask Banks For Bailout
By 9.22.09
Due to the record number of bank failures this year, the FDIC is low on funds. Instead of borrowing from the Treasury as they did in the early ’90s savings and loan crisis, regulators have a new idea: asking banks for a bailout.
