1 Wall Street, the Bank of New York Buidling By Jim in Times Square (Flickr) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
01 Sep 2015

BNY Mellon Bank Settles Corruption Charges Over Hiring Foreign Officials’ Relatives

On August 18, the SEC announced that the Bank of New York Mellon Corporation (BNY Mellon) agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), when the bank gave out highly sought-after student internships to the relatives of foreign government officials in

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An activist with the Fight For 15 minimum wage movement poses under the entrance to a McDonald's  restaurant on May 14, 2014. A new study shows CEO compensation grew in 2014, while workers continued to suffer with stagnant wages. (Flickr / Peopls World)
28 Aug 2015

CEO Compensation Jumped In 2014 As Workers Treaded Water

The pay for CEOs of public companies continued its upward climb in 2014 according to a report by The Conference Board, a business research organization. The report, published in August, claims that total compensation for chief executive officers of US public companies in the Russell 3000 Index rose up 11.9 % from 2013 and as much as 34.7 % from 2010.

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At a May 17, 2014 flashmob-style protest in Germany against the Transatlantic Trade and Investment Partnership international trade deal, two activists hold signs objecting to the TTIP's potential effects on data privacy and the deal's lack of transparency. (Flickr / campact)
27 Aug 2015

Big Tobacco TTIP Discussion Documents Censored By EU

Documents related to discussions between US, British and European officials and multinational tobacco corporations concerning the regulation of tobacco under a new trade agreement were censored by the European Commission. Activists with Corporate Europe Observatory revealed the meetings through a Freedom of Information request, but the documents were heavily edited.

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File: An American flag hangs in front of the entrance to the New York Stock Exchange in the Wall Street district of New York City. (Morguefile)
26 Aug 2015

Wall Street Laundering Derivatives Trades Through Europe To Avoid Dodd-Frank

As compromised as Congress is when it comes to dealing with their Wall Street donors, they have nothing on financial regulators who often end up later working for the people and companies they are supposed to be regulating. Now regulators are allowing Wall Street to hide derivatives trades overseas to circumvent Dodd-Frank.

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File: A U.S. infantry soldier yells for a medic to assist a wounded civilian after the explosion of a car bomb in Mosul on March 5, 2008. (Flickr / U.S. Air Force /  Staff Sgt. Jason Robertson)
24 Aug 2015

On Muslim Genocide, Privatized Prison Healthcare & Other Shadowproof Feedback

From the Shadowproof Mailbag: Does the U.S. government call genocide, “Enhanced Population Control”? Why do prisons withhold medicine? In praise of the documentary, “Silenced.” The Department of Justice a wholly-owned subsidiary of Wall Street.

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The entrance to a Merrill Lynch office in Dallas, photographed on April 26, 2010. (Flickr / Neff Conner)
21 Aug 2015

Banker Sentenced To Prison For TARP Fraud

Former Park Avenue Bank President Charles Antonucci has been sentenced to two and a half years in prison for his role in a scheme to defraud the Troubled Asset Relief Program (TARP). Antonucci will also pay $54.6 million in restitution and forfeit $11.2 million.

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File: The famous slanted roof of Citigroup Center in New York City. Citigroup has paid out billions in recent fraud cases. (Flickr / Chris Swann)
19 Aug 2015

Citigroup To Pay $180 Million For Latest Fraud

On August 17, Citigroup agreed to pay $180 million to settle charges from the SEC that two of the megabank’s hedge funds defrauded investors. According to the SEC, Citigroup’s hedge funds “made false and misleading representations to investors” about how risky investing in the funds were.

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File: At an Occupy Wall Street march on March 15, 2012, a banner reads "Foreclose On Banks Not People." (Flickr / Michael Fleshman)
18 Aug 2015

Report: Cost Of Financial Crisis Reached $20 Trillion

Last month, the nonpartisan financial reform organization Better Markets put out a report claiming that the total cost for the 2008 financial crisis and resulting recession reached$20 trillion. The number comes from an estimate of how much of a toll the crash put on the gross domestic product with high unemployment/underemployment and the hollowing out of the middle class through foreclosures, deferred education, and bankruptcies.

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File: A calculator and pen sit atop a print out of banking transactions. (Flickr / SeniorLiving.org)
11 Aug 2015

White Collar Crime Prosecutions At 20 Year Low

According to a study at the University of Syracuse using data from the Justice Department, federal prosecutions of white collar criminals are at a twenty year low. The decline began in the Clinton Administration and has continued to drop ever downward.

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File: A close up of a credit card, showing part of the number. (Flickr / Ed Ivanushkin)
04 Aug 2015

JPMorgan And Citigroup Pay Over $800 Million For Credit Card Crimes

Fraudulent paperwork, cheated counterparties, robosigning — no it’s not the housing crisis again. This time the crimes are related to the Too Big To Fail/Jail banks’ conduct with credit cards. Both JPMorgan and Citigroup have now reached settlements with the government related to their criminal credit card practices.

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