JPMorgan losses $6 billion and its stock jumps 6%. How much do we know about our banks?
Stephen Moore of the Wall Street Journal Editorial Page and Jon Cowan Co-founder and President,Third Way are OutFront.
Banks faces billions more in Libor loses
Banks implicated in the Libor-fixing scandal will likely take billions more in losses as a result of pending litigation and regulatory penalties, according to industry analysts at Morgan Stanley.
The analysis - which the authors admit is crude - is based in part on the experience of Barclays, the British bank which admitted that its staffers attempted to manipulate the London Interbank Offered Rate.
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wells fargo, bank of america, chase. does not matter, there all corrupt.
Enjoyed Jon Cowan's football analogy re: LIBOR...
Starting to feel some skepticism about the whole "banks doing good" thing after hearing about Wells allegedly steering minority borrowers into subprime loans, even when they qualified for better loan terms. I always admired & used to believe John Stumpf when he talked about "treating the customers as well as you'd treat the shareholders." All the other big bankers were straight outta Pottersville, but I thought this guy really had a shot at restoring the whole "Bailey Park" ideal from Frank Capra's America... I suppose that was my mistake.