Detroit’s bankruptcy, the tip of the iceberg
By Nancy Hanover, 27 January 2014
A massive giveaway—“corporate welfare,” both locally and nationally—is bankrupting municipalities across the US.
By Andre Damon, 27 January 2014
JPMorgan Chase CEO Jamie Dimon has been awarded $20 million in pay for 2013, an increase of 74 percent, following a year in which the bank paid out $20 billion in legal settlements.
By Andre Damon, 19 November 2013
The most remarkable aspect of the bull market is that it occurs in the context of stagnant economic growth or recession in the US and Europe.
By Andre Damon, 9 November 2013
SAC Capital Advisors, one of the most profitable hedge funds in history, has pleaded guilty in a massive insider trading case, but its owner faces no criminal charges and retains his vast fortune.
By Andre Damon, 6 November 2013
US Prosecutors announced Monday that Hedge fund SAC Capital would plead guilty to five counts of insider trading.
By Barry Grey, 21 October 2013
The American financial elite, like the aristocracies of old, is immune from the laws that apply to the lower orders.
By Barry Grey, 28 September 2013
The fact that the highest US law enforcement official holds an unannounced meeting with the head of a bank under investigation by his department says a great deal about the role of the government in shielding bankers.
By Tom Hall, 23 September 2013
Halliburton has pled guilty to destroying evidence related to the 2010 BP oil spill, paying a paltry $200,000 in fines.
By Andre Damon, 20 September 2013
JPMorgan Chase, the largest US bank, settled charges related to its multi-billion-dollar trading loss Thursday with four regulators, paying a total of $920 million in fines.
By Andre Damon, 15 August 2013
US prosecutors have charged two low-level JPMorgan Chase traders in connection with last year’s $6.2 billion trading loss.
By Dorian Griscom, 30 July 2013
The evidence indicates that SAC's massive profits were generated on the basis of fraud and illegal insider trading.
By Andre Damon, 27 July 2013
Halliburton, the oil field services contractor, agreed to plead guilty to destroying evidence related to its complicity in causing the 2010 Deepwater Horizon disaster.
By Gabriel Black, 20 July 2013
The US Commodity Futures Trading Commission has filed a civil lawsuit against Jon Corzine, the ex-chief of MF Global, for “failing to properly supervise” employees who used nearly a billion dollars from customers’ accounts to cover the firm’s bad debts.
By Zac Corrigan, 31 May 2013
Lisa Jackson, who was the head of the US Environmental Protection Agency (EPA) during Obama's first term, has been hired by Apple to manage the company's environmental problems.
By Andre Damon, 22 May 2013
Apple CEO Tim Cook used his appearance before the Senate Permanent Subcommittee on Investigations to call for a sharp reduction in corporate taxes.
By Andre Damon, 10 May 2013
The Justice Department announced Wednesday that it has reached a deal with former Enron executive Jeffrey Skilling that would result in a 10-year sentence reduction.
By Barry Grey, 18 March 2013
The financial malefactors have been rewarded with ever greater public funds to subsidize record profits, executive bonuses and stock prices
By Barry Grey, 16 March 2013
The report demonstrates that nothing has changed on Wall Street since the financial meltdown that was triggered by rampant speculation and illegality on the part of the banks.
By Henry Allan, 13 February 2013
Chevron was fined $963,200 by Cal/OSHA for state safety standard violations related to the August 6, 2012, fire at its Richmond, California, refinery.
By Nick Beams, 8 February 2013
Calls for greater regulation of the banks ignore the incestuous relationships between the finance houses and the regulators that are supposed to be overseeing them.
By Andre Damon, 1 February 2013
In the fifth year of the economic depression, and amid signs of the worst global slowdown since 2008, world stock markets are booming the fastest since the late 1990s.
By Naomi Spencer, 25 January 2013
Although the company was aware that 40 percent of metal hip replacements would fail in five years, it sold the devices anyway.
By Andre Damon, 22 December 2012
Not only has the Libor swindle exposed the criminality of the banks, it has laid bare the nexus of corruption and complicity involving governments and financial regulators the world over.
By Barry Grey, 14 December 2012
The financial robber barons of today are a law unto themselves.
By Bryan Dyne, 17 November 2012
BP has reached a settlement on all criminal claims with the US Department of Justice and on all securities claims with the Securities and Exchange Commission relating to the explosion of the Deepwater Horizon oil rig.
By Barry Grey, 27 October 2012
Not a single high-level banker has been prosecuted, let alone jailed, since the Wall Street crash of September 2008.
By A. Woodson, 18 October 2012
A Federal District Court judge in Manhattan has upheld a $4.8 million fine against Morgan Stanley for creating a derivatives deal.
By Barry Grey, 21 August 2012
In the figure of former MF Global CEO Jon Corzine, key aspects of the criminalization of the US ruling elite and the thoroughgoing corruption of its political system come together.
By Oliver Richards, 23 July 2012
The California Independent Systems Operator (CalISO) has alleged that JPMorgan Chase & Co. manipulated the state’s energy market, resulting in at least $73 million in improper payments.
By Christopher Marsden, 6 July 2012
The declaration by chairman Andrew Tyrie that some of what Barclays chief executive Bob Diamond said in testimony to the parliamentary Treasury Committee seemed “implausible” ranks as a masterpiece of understatement.
By Barry Grey, 6 July 2012
Rotting in its own criminality, the capitalist financial system produces ever more powerful arguments for its expropriation and reconstitution under public ownership and democratic control.
By David Walsh, 16 June 2012
The members of the Senate Banking Committee treated JPMorgan CEO Jamie Dimon with awe and reverence.
By Barry Grey, 16 March 2012
On Monday, the settlement between five major US banks and the federal and state governments of foreclosure-related fraud charges was filed in federal district court in Washington DC.
By Andre Damon and Barry Grey, 15 March 2012
Greg Smith, an executive director at Goldman Sachs, announced his resignation Wednesday in an op-ed piece public in the New York Times, denouncing the bank's “toxic” culture of avarice and fraud.
By Julie Hyland, 1 March 2012
The scandal surrounding the welfare-to-work firm A4e (Action for Employment) has again exposed how large swathes of public funds have been handed over to private corporations, under both Labour and the Conservative-Liberal Democrat coalition.
By Bill Van Auken, 5 November 2011
Jon Corzine, the former New Jersey Democratic senator and governor, resigned as CEO of MF Global, amid multiple probes into possible criminal violations at the bankrupt investment firm.
By Bill Van Auken, 13 May 2011
The conviction of former hedge fund manager Raj Rajaratnam on insider trading charges does not even touch upon the rampant financial swindling that produced the economic meltdown of 2008.
By Andre Damon, 18 December 2010
Two years after the arrest of Bernard Madoff, ample evidence has emerged that a number of major financial institutions profited from and knowingly facilitated his Ponzi scheme.
By Andre Damon, 27 November 2010
The US government has arrested an investment research firm employee in the first charge related to an ongoing federal insider trading investigation.
By Joe Kishore, 16 October 2009
The decision by the US high court to hear the Skilling case indicates that it is considering curtailing use of the “honest services” law to prosecute corporate fraud.
By Joe Kay, 29 May 2006
The guilty verdicts handed down by a Houston jury last week against former Enron chiefs Kenneth Lay and Jeffrey Skilling provide an opportunity to evaluate the significance of the company’s rise and fall within the context of American capitalism.
By Joe Kay, 10 March 2006
Former Enron chief financial officer Andrew Fastow continued testimony on Thursday in the trial of the company’s former CEO Ken Lay and former president Jeffrey Skilling. Fastow testified that Lay and Skilling were personally involved in the various illegal activities, accounting manipulations, and fraudulent statements for which Enron has become notorious.
By Rafael Azul, 15 June 2004
The recent release of transcripts of taped conversations among Enron electricity traders in the summer of 2001 reveals that company insiders not only knew they were stealing from California and other states, but gloated about it. The partial release of thousands of hours of tapes is a powerful indictment of the energy companies that looted California and Washington of close to $11 billion, with the support and assistance of government officials.