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Posts Tagged ‘wall st greed’

Rolling the Dice Again: Packaging Life Insurances Policies Into Bond Products by Ralph Nader

Posted by smeddum on September 14, 2009

Rolling the Dice Again: Packaging Life Insurances Policies Into Bond Products

by Ralph Nader

September 14, 2009

SleptonMag


The Wall Street gang is at it again! It’s been one year since Wall Street’s collapse and bailout took trillions from taxpayers and the sinking economy. The speculative instruments that pulled down the economy were those super-risky sub-prime mortgages, credit default swaps, collaterized debt obligations-you know-Las Vegas East, using other peoples’ savings. Read the rest of this entry »

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Minnesota Bank Asks Why It Pays for Wall Street Greed

Posted by smeddum on March 6, 2009

 

By Linda Shen

March 6(Bloomberg) — TCF Financial Corp., the Wayzata, Minnesota-based bank that never made a subprime loan and hasn’t lost money since 1995, is asking why it should help clean up the mess made by Wall Street.

“I’m kind of bitter,” said William Cooper, chief executive officer of the 448-branch bank, adding that over the years TCF has invested about $1 billion in the Federal Deposit Insurance Corp.’s fund that guarantees bank deposits. “We pay for the excesses of our competitor over and over again.” Read the rest of this entry »

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