We live in an era where the line between politicians and bankers is almost non existent. Bankers work on Wall St for a few years, then go into politics. After this, they go back to banking having learned the machinations of government and how to manipulate it better. This ...read more
by Megan Murphy and Vanessa Houlder, Financial Times, and Jeff Gerth In November 2001, Bank of New York, a mid-tier U.S. bank, transferred nearly $8 billion of its own assets to a trust in the small, business-friendly state of Delaware through several layers of newly created ...read more
By Cora Currier (ProPublica): A class-action lawsuit in Florida that moved forward this week highlights a little-appreciated aspect of the housing market — the cozy relationship between banks and insurance companies that often results in overpriced home insurance for already ...read more
