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Jury Convicts Executive in $3B Mortgage Fraud Case

ALEXANDRIA, Va. -- A jury on Tuesday convicted the majority owner of what had been one of the nation's largest mortgage companies on all 14 counts in a $3 billion fraud trial that officials have said is one of the most significant prosecutions to arise from the nation's financial crisis. Prosecutors said Lee Farkas led a...

Banks, Credit-Card Issuers Warn of Security Breach

NEW YORK -- With the possible theft of millions of email addresses from an advertising company, several large companies have started warning customers to expect fraudulent emails that try to coax account login information from them. Companies behind such brands as Chase, Citi and Best Buy said over the weekend that...

Cops: Man Robs Bank After Giving Teller Two Forms of ID

Turns out you don't need a withdrawal slip to rob a bank. Police say a man recently attempted to loot a central Pennsylvania bank, but only after providing tellers with the two forms of ID necessary to open an account. According to Harrisburg police, 35-year-old Daniel Rahynes entered the Metro Bank on North Second...

Rudolf Elmer: 5 Facts on the Swiss WikiLeaks Informant

Rudolf Elmer admits that he's made some "big mistakes." Among his legal missteps, Elmer supplied WikiLeaks with confidential documents on wealthy tax evaders. Zurich's Regional Court found the former Swiss banker guilty of that offense on Wednesday. Judge Sebastian Aeppli fined Elmer over 6,000 Swiss francs ($6,000),...

WikiLeaks Founder Says Next Target Is Major US Bank

(Nov. 30) -- WikiLeaks founder Julian Assange says big business is next. Early next year, WikiLeaks will publish tens of thousands of internal documents from a major U.S. bank, exposing the institution's rampant corruption and unethical practices and executives' brazen self-interest, Assange said in an exclusive...

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05/30/12 Establishment keeps control Source: Homer News - Homer AK Goldman Sachs, Credit Suisse Group, Morgan Stanley, Chase, Barkleys, Bank of America, Wall Street right on down.
05/30/12 DOUG KASS: 10 Reasons I'm More Optimistic About US... Source: ClusterStock In a note up on the website of his fund Seabreeze Partners , investor Doug Kass argus that US equities offer the best place to put your money, as things go aggressively in reverse in other parts of the world, specifically Europe.
05/30/12 Moody's downgrades nine banks Source: The Courier-Mail The nine, along with the Finnish subsidiary of one of the banks, saw their ratings cut one to three notches, with one of them, DLR Kredit, pushed three steps down into the junk-bond realm at Ba1. "Danish financial institutions face sluggish domestic economic growth, weakening real estate prices and higher levels of unemployment, as well as the risk of external shocks from the ongoing euro area debt crisis," Moody's said.
05/30/12 Morgan Stanley gets banking licence in India Source: Deccan Herald - India The Reserve Bank has given an in-principle approval to Morgan Stanley India to enter the commercial banking space, the US-based lender said on Wednesday.
05/30/12 Strong Arm Robbery Reported Near Bank of America Source: Glendora Patch - Glendora CA Glendora Police are reporting a strong arm robbery occurred at the Bank of America, 115 West Foothill Blvd. around 3:30 p.m. A female suspect reportedly used force to steal $5,000 in cash from the victim who was making a withdrawl, according to scanner reports.