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  #226  
Old 04-18-2019, 05:51 AM
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Default Re: Official fuck the banks thrad

Quote:
Originally Posted by Congresswoman Katie Porter
...she doesn't have your ability right now to spend your $31 million dollars- she's short $567- what would you suggest she do?
Jamie Dimon doesn't know, he'll have to think about it.
Quote:
Originally Posted by Congresswoman Katie Porter
Would you recommend that she take out a JP Morgan-Chase credit card, and run a deficit?
Jamie Dimon doesn't know, he'll have to think about it.
Quote:
Originally Posted by Congresswoman Katie Porter
Would you recommend that she overdraft at your bank and be charged overdraft fees?
Jamie Dimon doesn't know, he'll have to think about it.
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  #227  
Old 04-18-2019, 04:57 PM
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Default Re: Official fuck the banks thrad

You could always ask your dad for a one million dollar "loan."
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  #228  
Old 04-18-2019, 05:18 PM
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Default Re: Official fuck the banks thrad

I for one am glad that such thoughtful people are in charge of millions of people's financial futures, not to mention most of our government.

:eatshit: Mmm, thanks for the ice cream.
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  #229  
Old 04-18-2019, 09:52 PM
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Default Re: Official fuck the banks thrad

Quote:
Originally Posted by chunksmediocrites View Post
Jamie Dimon doesn't know, he'll have to think about it.
Jamie Dimon is thinking, "My employees make that much? I need to figure out a way to reduce her total compensation." and possibly, "I'd like to see this employee reach out to me for advice, so I have a good target for my wrath."
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  #230  
Old 04-19-2019, 12:10 AM
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Default Re: Official fuck the banks thrad

Deutsche Bank’s Running Tab of Investigations
Quote:
Lax money-laundering controls, market rigging, selling toxic securities—Germany’s Deutsche Bank has been investigated for all of these practices since the 2008 financial crisis, running up $18.3 billion in fines and legal costs, more than any other European bank. Regulators and prosecutors have raided the bank’s Frankfurt headquarters, subpoenaed documents and grilled executives in dozens of probes on three continents.
This is also the bank of choice for the Trump business empire, by the way.
Congress Subpoenas Deutsche Bank As Part Of Democrats' Probe Of Trump Finances

Wells Fargo in talks to settle SEC, DOJ fake-account investigations
Quote:
Wells Fargo is in talks with the Justice Department and the SEC about resolving the two-year investigations into the bank's infamous fake-accounts scandal.
What was that about?
Quote:
Wells Fargo became a lightning rod for criticism when in September 2016 it admitted that workers opened millions of fake bank and credit card accounts to meet wildly unrealistic sales goals.
I did not know executives take out insurance to protect them from lawsuits by shareholders:
Quote:
Shareholders in the lawsuit alleged that Wells Fargo leaders "knew or consciously disregarded" the creation of millions of fake accounts and that the ensuing scandal "significantly damaged" the bank.

In a common practice, Wells Fargo executives and directors took out insurance policies to protect them from shareholder lawsuits. Under the terms of the settlement, insurers for 20 current and former Wells Fargo executives and directors would pay $240 million to shareholders.
So what has Wells Fargo been doing with its profits, other than paying out fines?
Wells Fargo has splurged on stock buybacks since fake-accounts scandal
Quote:
Wells Fargo shelled out $7.4 billion to repurchase its stock in the third quarter, nearly triple what it spent the year before.

In the eight quarters since the fake-accounts scandal erupted in September 2016, Wells Fargo has spent an average of $3.2 billion each quarter on buybacks, according to a CNN Business review of company filings. That's 45% above what the bank spent during the prior eight quarters.
Wall Street loves buybacks because they create demand for stocks. And by removing shares from the market, buybacks artificially boost companies' earnings per share. Wells Fargo's stock is down 24% in the past year, and it probably would be suffering more if the bank wasn't going so big on buybacks.
Well, that's good news for... executives and shareholders? How's everyone else doing?
Quote:
While Wells Fargo has rewarded shareholders with stock buybacks, its workers are bracing for job cuts.
In September, Wells Fargo announced plans to cut as many as 26,500 jobs over three years as the bank grapples with the rise of online banking and hefty legal bills. The bank cited "changing customer preference," including the wide adoption of digital banking.
"Instead of investing in frontline workers, they're more concerned about shareholders and executive pay," said Nick Weiner, organizing coordinator at the Committee for Better Banks. "They're using their resources more to prop up their stock price, which you could argue is a conflict."
Hey, just a note on how things are progressing on the too-big-to-fail problem? The bank described in the headline below is Wells Fargo.
This Bank Has Tripled in Size Since the Financial Crisis
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