The Federal Reserve is finally admitting that not all the big banks are healthy: Bank of America won’t get to pay increased dividends. But none of those financial giants should be allowed to, and a logical look at the reasons t…
The Fed’s decision to allow big banks to pay sharply higher dividends makes no sense, and not just because the results of the so-called “stress tests” are secret. Based on facts that are public knowledge, the banks are actually…
Given the level of public outrage over the government’s rescue of banks during the financial crisis, the final cost to the taxpayer of keeping those failed institutions afloat turns out to have been relatively modest: The FDIC …
The mortgage mess settlement proposal is a repudiation of the servicing industries’ standard business practices. The agreement also reads as an indictment — not just of the servicing industry, but also of law enforcement, regu…
A partial settlement plan has been constructed by a group of state attorneys general and federal regulators. In theory, it addresses banks’ flawed mortgage servicing, modification and foreclosure practices. In reality, it just …