Advertisement

Too big to fail

President Obama will use his State of the Union address to push for tax benefits for the middle class paid for by tax increases on the rich.
Possibly more shocking is that JPMorgan is admitting wrongdoing.
Don't stop cursing AIG for unrelated problems in your life just yet!
AIG is really grateful for the help, but thinks it should have made more money.
Also, clawbacks are coming for executives.
"Essentially, JPMorgan has been operating a hedge fund with federal insured deposits within a bank," a finance professor told the NY Times.
"Our action demonstrates that there is one set of rules for all—no matter how big or powerful the institution may be—and that those rules will be enforced vigorously."
Never ones to take fairness lying down, a group of executives at the brokerage firm Jefferies Group are threatening to sue or quit or both if their pay isn't up to par.
The revelations come after Bloomberg LP won a lawsuit against the Fed and a group of the largest banks in the United States for access to records of more than 21,000 transactions.
AIG's biggest shareholder is angry the government took over the company to stop financial chaos.
New York City will host several events, beginning with a march on Chase Bank at 11 a.m. and culminating in a 5 p.m. meet up in Times Square.
Tonight, HBO will air its adaptation of NY Times reporter Andrew Ross
arrow Back To Top