banks

JP Morgan is going to have to pay $410 million dollars for manipulating energy markets in California and Michigan between 2010-2012, and if you’re thinking that this sounds an awful lot like what Enron was doing, well, you’re right! It was! Via CNN Money: The bank’s energy unit, JP Morgan Venture Energy Corporation, was accused […]

Today was just like any other day in that we woke up thinking, “Can we love Elizabeth Warren more today than we did yesterday, given that she is one of a tiny handful of people who seems not only committed to putting the banks in their place but also sufficiently empowered, politically, intellectually, and otherwise, […]

Who says there’s no justice? You might recall the case of Jeff Olson, yes? He’s the San Diego guy who wrote unkind things about Bank Of America, in chalk, on a sidewalk in front of Bank of America, and then, after an executive from Bank of America pressured a city attorney who took campaign contributions […]

Yes, you read that right: finally, someone is going to jail for what the banks did! If this seems like it is too good to be true, Wonketeers, your instincts are correct because the person who is FINALLY going to jail is not anyone associated with the banks, but rather, a man who wrote mean […]

Did you spend the past couple days so suspicious of the NSA that you had forgotten to set aside just a little bit of your suspicion for the banks? Don’t worry, we can fix that pretty quickly! Turns out Bank of America may have been foreclosing on homeowners who qualified for in-house loan modifications and […]

Wonketteers are all latte-drinking Prius-driving libruls, so they are all probably avid New York Times readers who are very familiar with the Times’ ongoing series on income inequality, “The Great Divide.” But just in case! Today’s installment is a cheery essay by Joseph Stiglitz, titled “Student Debt and the Crushing of the American Dream.” Doesn’t […]

Liz Warren came to Washington to kick ass and chew bubblegum, and she is ALL OUT OF BUBBLEGUM. Would you like to watch her tear into regulators about wrongful foreclosures? Specifically: why no one knows exactly how many people were wrongfully foreclosed on, and also, why wrongfully foreclosed upon people may have gotten as little […]

Are you STILL capable of being surprised by structural inequality, including but not limited to women and minorities’ inability to take advantage of various financial opportunities? Eh, us neither, we are used to it by now, but just in case we accidentally become inoculated, let us learn about the current instantiation of redlining in Chicago.

Every day, we wake up thinking that we cannot possibly dislike the banks (and their enablers) more than we did them the day before, and most of the days we are right, and our fear and loathing glides along on a steady keel. But once in a while we are proven wrong and learn of […]

Hi Lizzz! HIIIIIII! WE LOVE YOU!!!! Why? Well, in addition to the usual reasons, Ben Bernanke appeared in front of the Senate Banking Committee yesterday, and Elizabeth Warren basically asked him stuff like: Why is everything still so horrible, Ben? Why are you doing absolutely nothing to fix anything, Ben? Why are you just standing […]

Hello, are you interested in hearing something horrible about banks? Of course you are, big banks are possibly one of the worst things that have happened to the American people in the last decade or so, which is why you will not be surprised to learn that they have started partnering with small, internet-based payday […]

We wish that we could have a video like this one EVERY MORNING, that is how much it pleases us to watch Elizabeth Warren embarrass bank regulators in front of a live audience. She should take this show on the road because we are INTO IT! Of course, we use the term “regulators” figuratively, given […]

Well this will save everyone a lot of time! Banks are just going to go ahead and do a rigorous self-review to see if they handled foreclosures correctly. Of course, most of them have not handled foreclosures correctly, remember when Wells Fargo foreclosed on the wrong house? Twice? And remember when Bank of America did […]

Did you know that there is now such a thing as “too big to indict”? This generally refers to institutions that are so big and so central to the entire economy of the whole world that there is nothing anyone can do to punish criminal activity and specifically refers to HSBC, a multinational banking conglomerate […]

Well that was fast! The media has already, as Hamilton Nolan astutely predicted, turned on Greg Smith, the former Goldman Sachs analyst turned writer. You might remember Greg Smith from the scathing Op-Ed he wrote in the New York Times back in April, announcing his resignation from Goldman Sachs and revealing that their corporate culture […]