JPMorgan, the largest bank in the U.S., has agreed to pay $4.5 billion to resolve claims it sold faulty mortgage securities.
Last month, it agreed to pay $5.1 billion in another claim that it misrepresented mortgage bonds, and it expects that more legal disputes lay ahead.
Another US bank, Bank of America, has a tentative settlement of $8.5 billion it will be paying to bond investors, and it’s believed many other banks will soon be facing lawsuits over illegal investment practices.
Yet, these settlements are a small fraction of what investors actually lost, and the banks continue to grow and pay great bonuses.
Nice work, boys!
More here: http://www.bloomberg.com/news/2013-11-15/jpmorgan-reaches-4-5-billion-mortgage-bond-deal-with-investors.html
Ramallah in Palestine gets more annual rainfall than London. So where does all that water go? Why does it seem the Palestinians don’t have enough water?
An interesting graphic tells an interesting story. (Click on the image to enlarge.) And see more here: http://visualizingpalestine.org
Living in a country mad about hockey means that soccer news gets bumped down the list quite a ways. A shame really, as it’s an incredible game when played at the top level. (Try watching a European Champions Cup game sometime.) Here’s a video of 10 nominations for FIFA’s goal of the year in 2013. (How about that one from half way down the pitch? Or the bicycle kick from the next county??)
Okay, time to surface.
Been hiding away in the crawlspace (Would’ve said ‘in the closet’ but that would’ve involved a conversation with Roxanne that really isn’t needed) for far too long.
And although I recently gave in and started posting on FB and Twit-ter, I’d rather have control and ownership of any crap I put up.
Hence (what a weird word), a website.
WARNING: Gonna be scattered and eclectic. Just like me. Politics, music, rants, humor, disasters, joy … just like me.
PHOTO ABOVE? In Nepal 2005. Wrote a skit for the Nepal Paragliding Championships and a buddy from the UK, Robin, had the lack of foresight to agree to perform it with me. A ‘Momo’ is a Nepali sticky bun. Diginitaries (Fat Cats) on the stage include the Nepali Minister of Security – a friendly enough dude with very scary eyes and bodyguards. (Nepal was at the height of a civil war at the time.) There’s a video somewhere of our ‘performance’. I’ll see if I can find it.