more bank trouble

[Danzig]

jp morgan's (this country's largest bank) losses grow, libor manipulation still in the news, and now this:

http://bottomline.msnbc.msn.com/_new...ror-drugs?lite


note the mention of other banks who had already been caught in this sort of thing.

[Danzig]

http://bottomline.msnbc.msn.com/_new...away-investors


and that story, which came out a few days ago. i can't help but think the regs put in place a few years back were merely window dressing. or then there's this point:

In the scandal over the rigging of Libor -- the London interbank offered rate that influences interest rates around the world -- documents released last week showed that regulators on both sides of the Atlantic knew years ago that there was something very wrong with the system but they have done very little to try to fix it.

[Danzig]

http://www.slate.com/blogs/spitzer/2...t_it_act_.html



The Fed Knew LIBOR Was Corrupt in 2008. So Why Didn’t It Act?
Posted Tuesday, July 17, 2012, at 6:53 PM ET

[Riot]

LIBOR isn't sexy ... people literally don't seem to care, unfortunately. Sheeple ...

[Danzig]

http://www.msnbc.msn.com/id/48313448...s-us_business/

Many TARP banks used federal loans to repay taxpayer debts
Watchdog's report also highlights lack of 'rigorous regulation' of bailed-out insurer AIG


Inspector general: AIG still lacks regulation
In addition, the insurer American International Group, which received the largest TARP investment, still lacks "effective, comprehensive, and rigorous regulation," according to a portion in the report focusing on AIG.

"I think most people are going to be very surprised to learn that for the last two years, AIG has had no consolidated regulator over its financial business," Romero told Dow Jones Newswires.

Taxpayers have now lost $5.5 billion on its investment in AIG, Wednesday's report said. The government's remaining investment in the company is $30 billion, which amounts to about 61 percent of the company's common stock, which is down from the initial $180 billion.