Posts Tagged ‘Kerry Killinger’
Posted by Larry Doyle on October 21st, 2013 10:12 AM |
Does a $13 billion fine such as that levied against JP Morgan represent justice?
I was asked by my friends at Global Economic Intersection to weigh in on the following questions regarding this penalty seemingly so large as to be hard to fathom.
Is the reported settlement appropriate? Sufficient? Insufficient?
How many criminal charges would be appropriate? None? Operational management? Executive management?
If you believe the action by DoJ is appropriate, has it been timely?
Should there be similar action against other banks? (more…)
Tags: Angelo Mozilo, Chris Dodd, fine on JPM, JP Morgan 13 billion fine, JP Morgan Chase fine, JP Morgan fine, JP Morgan fine imposed by DOJ, JP Morgan takeover of Bear Stearns, JP Morgan takeover of Washington Mutual, Kerry Killinger, mortgage fraud, was JP Morgan fine fair
Posted in fraud, General, JP Morgan, Mortgage Crisis, Mortgages | 4 Comments »
Posted by Larry Doyle on April 14th, 2011 10:16 AM |
I have long believed and written extensively that I thought our nation experienced extensive fraud in the mortgage origination industry in the first decade of this century. That fraud was then conveyed throughout our markets and economy via the securitization process on Wall Street. Many people, divisions, departments and firms profited along the way while regulators were negligent, incompetent, or both.
While only a select few individuals in the mortgage origination industry have paid any type of price for engaging and promoting this fraud, our nation as a whole has paid a very heavy and steep price. I find this reality to be reprehensible and hold our nation’s banking regulators in contempt for allowing this gross injustice to transpire. Even to this day the banks and mortgage servicers involved in the initial fraud and having engaged in ongoing abusive business practices are poised to get a slap on the wrist and little more for their practices. (more…)
Tags: bank settlements, Barry Kaplan and Kerry Killinger, FDIC and WAMU, Kerry Killinger, loan fraud, mortgage fraud, mortgage servicers, Office of Thrift Supervision, OTS negligence with WAMU, Wall Street racketeering, Wall Street securitization process, WAMU Hawaii Trips Drove Risk as Regulator Failed, WAMU loan fraud, Washington Mutual mortgage fraud
Posted in General | 8 Comments »
Posted by Larry Doyle on April 16th, 2010 12:03 PM |
Given the breaking news of Goldman Sachs being charged with fraud, I am bumping up this story from my original posting on April 14th.
If you are swimming with sharks, you had better be careful.
I have had an extraordinary number of people visit Sense on Cents as a result of searching for information on how Goldman Sachs operates. Although many believe Goldman’s operations to be one massive conspiracy, I would not blindly and wantonly generalize about an entire organization. By the same token, Goldman is certainly not a pack of choir boys either. (more…)
Tags: chinese walls on wall street, Doing business with goldman sachs, Goldman Sachs, Goldman Sachs and Long Term Capital Management, Goldman Sachs business model, Goldman Sachs John Mahoney, goldman sachs operations, Goldman Sachs reputation, is Goldman Sachs one massive conspiracy, Kerry Killinger, Kerry Killinger e-mail to Todd Baker October 12 2007, Lloyd Blankfein, Michael DuVally of Goldman Sachs, Permanent SubCommittee of Investigations, swimming with sharks, the reputation you deserve, WaMu Countrywide and Goldman Sachs, Washington Mutual CEO Kerry Killinger
Posted in General, Goldman Sachs | 5 Comments »
Posted by Larry Doyle on April 13th, 2010 11:01 AM |
What really happened at Washington Mutual?
With former Washington Mutual executives facing a Senate subcommittee today, all eyes and ears in Washington are focused on the lending practices and management of this failed thrift.
Did Washington Mutual knowingly originate fraudulent loans? Did WaMu reject mandates from regulators to change lending practices? Did the regulators themselves even know what was going on at Washington Mutual? All great questions deserving full and total transparency if America is ever to fully understand what happened on Wall Street. (more…)
Tags: development of Washington Mutual, Jamie Dimon, JP Morgan's takeover of Washington Mutual, JPM WaMu, Kerry Killinger, Kerry Killinger April 13 2010, regulatory oversight of Washington Mutual, Steve Rotella April 13 2010, the failure of Washington Mutual, WaMu, Washington Mutual, Washington Mutual compared to JP Morgan Chase
Posted in General, Washington Mutual | No Comments »