News tagged with 'Financial Misconduct'

What role did Charles Schwab & Co. play in the Ponzi scheme by disgraced "Economan", Al Parish? That is what a class action lawsuit filed by 53 individuals in 13 states hopes to uncover, naming Schwab as liable for its involvement in the sale of unregistered securities, a violation of state law.

 The banking the business community are expected to pounce on the new Obama plan to create an agency overseeing financial products such as credit cards and mortgages. More information would have to be disclosed to consumers and interest rates could be capped, hurting the banks' bottom line. No more government is needed say critics.

Rep. Elijah E. Cummings, a senior member of the House Committee on Oversight and Government Reform, has called for an inquiry to examine AIG’s handling of denied and delayed insurance claims for civilian contractors injured in Iraq and Afghanistan.

Author and professor, William K. Black suspects that fraud, along with greed and incompetence, brought down the U.S. economy and plunged the U.S. economy into a recession. Black should know, he was a regulator during the savings and loan crisis of the 1980s, but he says this is much worse. He calls those in charge, "banksters".

His name is Barrett Wissman and he is accused of trading in access for profit.  He is the first executive to be charged with a felony as part of an investigation of corruption at the New York state’s $122 billion pension fund, brought by New York Attorney General Andrew Cuomo and the Securities and Exchange Commission.