I have been away from this blog for a long time and for that I am sorry, but life sometimes gets in the way.
I promise to have plenty of posts going forward on the state of the economies — both US and global — starting now.
The feds are calling in their TARP and QE chits from Wall Street banks.
With debt ceiling fast approaching DC regulators are in talks with JPMorgan, Citi, SAC Capital Advisors and Wells Fargo to bring in close to $20B in penalities and fines for pass misconducts in housing and insider trading.
Eric Holder’s Justice Department “perp walked” Jamie Dimon as the JPMorgan chief met with the Attorney General to discuss settlement talks, which could amount to $11B alone for the bailout-in-chief’s firm.
Steve Cohen’s lawyers are looking to cut a deal to avoid his appearance in a Manhattan federal court to testify in a trial.
The feds have criminally charge the firm with insider trading as 6 of its traders have been convicted, pleaded guilty or are charged with the crime.
The funds collected would not help Uncle Sam keep the lights on, but for a few hours, however its a smokescreen that the Obama administration is being tough on Wall St.