Banking and insurance in Iran
Since 2001 the Iranian Government has moved toward liberalising the banking sector, although progress has been slow.
PayPal, American Express implicated in bank fraud
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NEW YORK – A former employee of one of the world’s largest international banks who has provided WND with more than 1,000 pages of evidence alleges the Internet giant PayPal and American Express are implicated in an international money-laundering scheme involving hundreds of billions of dollars. The whistleblower, John Cruz, was a relationship manager in the southern New York region for the London-based global bank HSBC. “I found many accounts where PayPal and American Express were used as conduits through which hundreds of thousands of dollars were deposited or withdrawn from HSBC customer accounts in a pattern of suspicious transactions...
Published on Thursday 9th of February 2012 09:30:57 PM
Kathleen Willey urges Soros to save her home
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'Maybe you can start redeeming yourself by helping your fellow man' Kathleen Willey, the woman who courageously testified about being assaulted by President Clinton, is scheduled to lose her home in just three days in a bank auction – but, in a last-minute plea on behalf of millions of homeowners just like her, she has written to billionaire George Soros for help. Willey’s original home loan was issued by IndyMac Bank before the FDIC took receivership of the bank following the 2008 collapse. At the time of the FDIC takeover of IndyMac, it was the third-largest bank failure in U.S....
Published on Thursday 9th of February 2012 09:30:57 PM
Jim Rickards (Audio Interview)
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[Background History on...] James G. Rickards is a writer, lawyer and economist with over 30 years experience in global capital markets. He is Senior Managing Director at Omnis, Inc., a consulting firm in McLean, VA and is the leading practitioner at the intersection of global capital markets and national security. His advice to clients from 2002 to 2006 included early warning of impending financial collapse, the rise of sovereign wealth funds, the decline of the dollar and the sharp rise in gold prices years in advance of these events. He has held senior executive positions at Citibank, Long-Term Capital Management...
Published on Thursday 9th of February 2012 09:30:57 PM
When Irish Eyes Are Smiling, It Must Mean the World’s Focus Is Elsewhere
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Greece is balking at surrendering its sovereignty as the Merkel-led European elite is shouting for more austerity from the “profligates” in an effort to insure the large continental banks against the ravages of default. As one reader e-mailed today, IT IS AS IF THE GERMANS ARE PLACING THE ENTIRE NATION OF GREECE INTO DEBTORS PRISON. Life was much easier when a country could send in its gunboats to collect its loans. Tonight the Czechs have purportedly joined the Brits in opposing the fiscal straitjacket being demanded by Berlin. The official vote on the fiscal treaty won’t take place until March...
Published on Thursday 9th of February 2012 09:30:57 PM
BIGGEST PROFIT MARGINS IN HISTORY
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[T]he number one question pouring in is about the banks and their profit margin. Yes, the bottom line remains that the cost of money declines sharply for depositors while the cost of borrowing rises. Where the value of cash for three years is 0.7% to a depositor, for a fully collateralized borrower, the cost is about 4%. This is a profit margin for the banks of 571%. In other words, when the discount rate was 17% in 1981, this would have been the equivalent of a prime rate at 9707%. The profit margin at banks has NEVER been so high....
Published on Thursday 9th of February 2012 09:30:57 PM
Banking on a Distraction
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Bitten by the acting bug in my youth, I joined a small children’s theater company run by a pair of magicians. We didn’t travel far, just around Chicagoland, but it kept my 8th grade weekends busy, riding around Cook County in a bus from show to show. The magicians never shared any secrets with me, of course – proper magicians don’t give up the secrets to anyone except their assistants and their insurance agents – but one day en route to a gig, the director confided to me that the most important thing isn’t how you do the trick, it’s...
Published on Thursday 9th of February 2012 09:30:57 PM
Mortgage fraud task force launched U.S. attorney issues subpoenas to 11 banks over MBS
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WASHINGTON (MarketWatch) — More than three years after the height of the financial crisis, federal and state regulators on Friday launched a mortgage fraud task force to investigate the pooling and securitization of mortgage securities by big banks. Regulators said the new task force will not interfere with efforts to reach a settlement with a group of five financial institutions over questionable foreclosure practices. Specifically, the Justice Department, along with other state and federal regulators, announced that the new working group will consist of at least 55 Justice Department attorneys from around the country. The team joins existing state attorneys-general...
Published on Thursday 9th of February 2012 09:30:57 PM
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