Daily Archives: May 25, 2013

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Norway Oil Fund voted in 2012 to separate Chairman-CEO job for JP Morgan Chase and Wells Fargo

Norway Oil Fund voted in 2002 to separate Chairman-CEO job for JP Morgan Chase and Wells Fargo

Here is 2012 proxy votes by Norges Bank Investment Management on JP Morgan Chase and Wells Fargo:

 

JPMorgan Chase & Co 15.05.2012 Annual 1 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 2 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 3 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 4 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 5 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 6 Directors Related Elect Directors Against

JPMorgan Chase & Co 15.05.2012 Annual 7 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 8 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 9 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 10 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 11 Directors Related Elect Directors For

JPMorgan Chase & Co 15.05.2012 Annual 12 Routine/Business Ratify Auditors For

JPMorgan Chase & Co 15.05.2012 Annual 13 Non-Salary Comp. Approve Remuneration Report For

JPMorgan Chase & Co 15.05.2012 Annual 14 SH-Other/misc. Report Political Contrib/Acts Against

JPMorgan Chase & Co 15.05.2012 Annual 15 SH-Routine/Business Separate Chairman and CEO Positions For

JPMorgan Chase & Co 15.05.2012 Annual 16 SH-Corp Governance Company-Specific-Governance-Related Against

JPMorgan Chase & Co 15.05.2012 Annual 17 SH-Other/misc. Report Political Contrib/Acts Against

JPMorgan Chase & Co 15.05.2012 Annual 18 SH-Soc./Human Rights ILO Standards Against

JPMorgan Chase & Co 15.05.2012 Annual 19 SH-Dirs’ Related Provide Right to Act by Written Consent For

JPMorgan Chase & Co 15.05.2012 Annual 20 SH-Compensation Stock Retention/Holding Period Against

 

Wells Fargo & Co 24.04.2012 Annual 1 Directors Related Elect Directors Against

Wells Fargo & Co 24.04.2012 Annual 2 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 3 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 4 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 5 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 6 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 7 Directors Related Elect Directors Against

Wells Fargo & Co 24.04.2012 Annual 8 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 9 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 10 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 11 Directors Related Elect Directors Against

Wells Fargo & Co 24.04.2012 Annual 12 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 13 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 14 Directors Related Elect Directors Against

Wells Fargo & Co 24.04.2012 Annual 15 Directors Related Elect Directors For

Wells Fargo & Co 24.04.2012 Annual 16 Non-Salary Comp. Approve Remuneration Report For

Wells Fargo & Co 24.04.2012 Annual 17 Routine/Business Ratify Auditors For

Wells Fargo & Co 24.04.2012 Annual 18 SH-Routine/Business Separate Chairman and CEO Positions For

Wells Fargo & Co 24.04.2012 Annual 19 SH-Dirs’ Related Restr or Provide for Cumulative Vtg For

Wells Fargo & Co 24.04.2012 Annual 20 SH-Dirs’ Related Proxy Access For

Wells Fargo & Co 24.04.2012 Annual 21 SH-Corp Governance Company-Specific-Governance-Related Against

 

http://www.nbim.no/Global/Documents/Ownership/2012/Voting_S_U_12.pdf

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JPMorgan Chase & Co. : Norway Oil Fund Voted to Separate J.P. Morgan Posts

JPMorgan Chase & Co. : Norway Oil Fund Voted to Separate J.P. Morgan Posts

OSLO–The leadership of Norway’s $740 billion oil fund voted at J.P. Morgan Chase’s (JPM) annual meeting to separate the roles of chief executive and chairman at the bank, Norges Bank Investment Management chief executive Yngve Slyngstad said Friday.

After facing some criticism in national media for keeping his voting secret on whether Jamie Dimon should remain as both CEO and chairman of the U.S. company, Mr. Slyngstad Friday revealed the vote of the Government Pension Fund Global, which is managed by NBIM.

The fund owned 0.71% of the bank at the end of 2012.

“It’s no secret how we voted in this case,” Mr. Slyngstad told the NRK radio channel. “If you go to our webpage you can see there that already last year, we voted for separating the roles of chief executive and chairman.”

Asked what the fund voted this year, he confirmed that the fund had not changed its view.

“We voted to separate these roles, of course. We think it’s very important in international banks, not the least those that are system-critical, that there is a balance between chief executive and chairman,” Mr. Slyngstad told the NRK.

Bad news for the banksters: NY State Court halts judge shopping in RMBS putback cases

From Teri Buhl website:

Orignal Text
Banks looking to judge shop in RMBS putback cases filed in New York State court are going to get shut out of the process. Apparently there are so many cases to litigate against banks, like JP Morgan and Credit Suisse selling billions of garbage mortgage securities to investors, that administrative judge Sherry Heitler has decreed all RMBS cases as of March 2013 now go to one judge. Roberta McClinton, Heitler’s law clerk, confirmed this today explaining that similar cases need to go to one judge now because it’s for ‘judicial economy’.

This news just came to light after I saw a non-public letter from Judge Heitler to JP Morgan’s outside counsel ,Andrew Cereseney and Robert Sacks, stating she appreciated JPM’s letter about their desire to have the NY AG’s civil fraud case against JP Morgan assigned to Judge Ramos but the court’s new policy is all commercial RMBS cases are now going to Judge Friedman. The problem is this doesn’t totally makes sense. The court is telling me on the record it’s for ‘judicial economy’ that like-cases go to one judge, and Judge Ramos already has the bulk of rmbs cases against JP Morgan, so why in March did the court suddenly choose to divert rmbs cases to new a judge? A judge who hasn’t seen a boat load of evidence about the ‘dogs’ and ‘sack of shit’ loans these bankers admitted, in their own emails, they were selling as safe investments to pension funds. Judge Friedman is known as a liberal ‘for the people’ judge. Judge Ramos has made comments in open court that these fraud claims by the monolines against JP Morgan are not something he is in favor of litigating.

Attorney Cereseney apparently grew a conscious after the NY AG’s case was assigned to Judge Friedman because in April he up and quit his lucrative job as partner for DeBevosie & Plimpton and joined the Securities and Exchange Commission as it’s co-head of enforcement. Robert Sacks has remained leading the dirty defense ligation of JP Morgan at banksters favorite law firm Sullivan and Cromwell.

Now here is where this gets even odder. Apparently JP Morgan’s lawyers starting circulating Judge Heitler’s letter around to other law firms that represented the banks. Judge Heitler’s PR man David Bookstaver confirmed today this letter was private and doesn’t have to be filed in the case records because it’s from an administrative judge to the lawyers involved and not from the judge on the case. Lawyers for DLJ Mortgage, a division of Credit Suisse who is also being sued for civil fraud by the NY AG, got a copy of Heitler’s letter and used it in a motion to file for judicial intervention last week. Richard Jacobson of law firm Orrick, was begging the court to give them Judge Kornreich in a billion rmbs suit filed by a trustee for aggrieved investors against Credit Suisse. The rmbs in this case is called Home Equity Asset Trust 2007-1 and was packaged by the traders at Credit Suisse; the trust is being represented by David Abrams, of Kasowitz Benson Torrres & Friedman, who is also helping the FHFA try and recover billions in rmbs fraud. Judge Heitler’s letter being circulated feels like the big bank lawyers were trying to warn each other you’d better get your motions for favored judge in cuz this legal trick is about to get shut down.

And here is another update:

UPDATE 4pm: The NY Courts have now issued an official policy about their ‘One Judge’ for RMBS cases decision. Ironically on the same day I started asking questions about these private decision they are now public!

 

 

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‘Offshore Leaks’ Revelations Force Resignation of Top European Banker

‘Offshore Leaks’ Revelations Force Resignation of Top European Banker

Raiffeisen Bank’s Herbert Stepic says he’s stepping down to shield the Austrian financial giant from a media firestorm over his offshore holdings.

One of Europe’s most famed bankers offered his resignation today in the face of reports that he secretly owned offshore companies in the Caribbean and Asia.

Raiffeisen Bank International chief executive Herbert Stepic said he was stepping aside to save the Vienna-headquartered bank from fallout over the latest revelations in the International Consortium of Investigative Journalists’“Offshore Leaks” probe.

His resignation comes one day after two ICIJ media partners — German newspaper Süddeutsche Zeitung and the Austrian magazine News – broke the news that Stepic controlled two secrecy-cloaked companies in Hong Kong and the British Virgin Islands.

Stepic denies wrongdoing, but said at a quickly arranged news conference in Vienna that he wanted to spare the bank from media reports that “threatened to do massive harm to my company.”

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‘Offshore Leaks’ Revelations Force Resignation of Top European Banker

‘Offshore Leaks’ Revelations Force Resignation of Top European Banker

Raiffeisen Bank’s Herbert Stepic says he’s stepping down to shield the Austrian financial giant from a media firestorm over his offshore holdings.

One of Europe’s most famed bankers offered his resignation today in the face of reports that he secretly owned offshore companies in the Caribbean and Asia.

Raiffeisen Bank International chief executive Herbert Stepic said he was stepping aside to save the Vienna-headquartered bank from fallout over the latest revelations in the International Consortium of Investigative Journalists’“Offshore Leaks” probe.

His resignation comes one day after two ICIJ media partners — German newspaper Süddeutsche Zeitung and the Austrian magazine News – broke the news that Stepic controlled two secrecy-cloaked companies in Hong Kong and the British Virgin Islands.

Stepic denies wrongdoing, but said at a quickly arranged news conference in Vienna that he wanted to spare the bank from media reports that “threatened to do massive harm to my company.”