Visualisations of corporate ownership
for six banks: Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, JP Morgan and Wells Fargo.
Patrick Rodgers, who (previously
) "foreclosed" on Wells Fargo
, is now suing eBay
over a case of mistaken identity.
"We decided to go on an adventure through the financial statements of one bank
[Wells Fargo], to explore exactly what they do and do not show, and to gauge whether it is possible to make informed judgments about the risks the bank may be carrying. We chose a bank that is thought to be a conservative financial institution, and an exemplar of what a large modern bank should be."
Massachusetts AG Sues 5 Biggest Banks
The first suit by a state attorney general to address the robosigning allegations of last fall, the suit may signal the failure of the talks among the 50 state attorney's general, federal regulators, and the big banks. (Previously
). The most interesting aspects of the suit may be its allegations about mortgage modifications, however, which are new. (Attorney General's full complaint here.
) [more inside]
may have been the big news, but there were numerous other data breaches in 2010. [more inside]
Is laundering Mexican drug cartel money
too big too fail? Wachovia/Wells Fargo are discovered to be laundering many many billions of dollars. As in $380,000,000,000
. Charles Bowden, in a recent interview
with Amy Goodman, discusses the everyday reality of what life is like in the border town of Ciudad Juarez, and his most recent non-fiction account of the "Global Economy's New Killing Fields", in the just published book Murder City
. Meanwhile, the drug violence now involves car bombs
in Ciudad Juarez, the city across the border with El Paso. Guns go out of America, and drugs come in. [more inside]
The Catch with Wells Fargo's Share Builder
Some of you may have seen Wells Fargo's ads touting $4 per transaction and unlimited transactions for $12. The main catch is that you cannot trade every day. From their FAQ- "ShareBuilder trades can be made the first, second, third or fourth Tuesday of each month. You select which day you would like your trade to take place when setting up your ShareBuilder Plan. In the event of a month with five Tuesdays, no ShareBuilder trades will take place on the fifth Tuesday."
When the rest of the world is going to real-time trading, why do you think Wells Fargo is pushing this? Do you think it is deceptive that this is not mentioned up-front?