January 19, 2015
Mohenjo
Breaking News
amazon, business, Business News, Credit Suisse, Davos, Hotels, huffingtonpost, human-rights, Income Inequality, medicine, mental-health, Oxfam, research, Science, Science News, technology, Technology News, travel, vacation, wealth, WINNIE BYANYIMA, World Economic Forum Davos
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The rich keep getting richer, and by next year, just a handful of the upper-class will have accumulated more than half of the world’s wealth.
A new report released on Monday by Oxfam warns that this deepening global inequality is unlike anything seen in recent years.
Using research from Credit Suisse and Forbes’ annual billionaires list, the anti-poverty charity was able to determine that the richest 1 percent of the world’s population currently controls 48 percent of the world’s total wealth.
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http://www.huffingtonpost.com/2015/01/19/world-wealth-oxfam_n_6499798.html
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May 21, 2014
Mohenjo
Crime
amazon, bank, business, Business News, Credit Suisse, Credit Suisse Guilty, Credit Suisse Guilty Plea, Credit Suisse Pleads Guilty, Credit Suisse Tax Evasion, Hotels, huffingtonpost, human-rights, Justice Department, medicine, mental-health, research, Science, Science News, technology, Technology News, To Big to Prosecute, Too Big to Jail, travel, vacation
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The U.S. government has finally backed up its boast that no bank is too big to jail, if by “jail” you mean “vigorously slap on the wrist.”
The Justice Department on Monday filed criminal charges accusing Swiss banking giant Credit Suisse of conspiring to help U.S. customers dodge taxes. The bank pleaded guilty to the charges, breaking from a recent tradition of letting banks defer prosecution. Credit Suisse also agreed to pay about $2.6 billion to settle the claims brought by the Justice Department, the Federal Reserve and New York State.
“This case shows that no financial institution, no matter its size or global reach, is above the law,” Attorney General Eric Holder said in a press release announcing the settlement.
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November 26, 2012
Mohenjo
Business, Crime
Angelo Mozilo, Bank Of America, business, Business News, countrywide financial, Credit Suisse, economy, Eric Schneiderman, Housing Crisis, huffingtonpost, Mortgage Fraud, Mortgage Fraud Charges, Mortgage Fraud Credit Suisse, Mortgage Fraud Jpmorgan, Mortgage Fraud Lawsuits, Mortgage Fraud Task Force, mortgage lending, mortgage market, ncid, real-estate, research, Science, Science News, technology, travel, vacation, Video, Wells Fargo
FROM
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Even in the movie version of the financial crisis, the giant mortgage company accused by the U.S. government of rampant fraud and abuse wouldn’t be so obvious as to nickname its mortgage lending program “the Hustle.”
The real-life Countrywide Financial, however, was not known for its subtlety. In 2007, as the mortgage market was collapsing, Countrywide, now part of Bank of America, used the hustle — officially, a program it called the “High Speed Swim Lane” — to eviscerate lending standards in order to keep pumping out home loans, even though many were fraudulent, according to a lawsuit filed by the U.S. government last month.
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.Click link below for story,slideshow, and video:
http://www.huffingtonpost.com/2012/11/21/mortgage-fraud-lawsuits-_n_2174002.html?ncid=edlinkusaolp00000003
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