Monthly Archives: May 2015

Libor Accused Received Help From Boss, Evidence Shows

LONDON—The man accused of being the ringleader of a global interest-rate-rigging conspiracy received a helping hand from his boss, according to evidence presented in a London trial Thursday.

Tom Hayes, a former UBS AG trader in Tokyo, got multiple assists from his direct manager, Mike Pieri, to get their UBS colleagues to move their interest-rate data to benefit Mr. Hayes’s trading positions, according to emails shown in court.

Read on.

Flashback coverage of bribery, blackmail allegations by FBI translator/whistleblower Sibel Edmonds from years past


Sibel Edmonds had charged, years ago, that Dennis Hastert was mixed up with shadowy Turkish interests and even suitcases full of cash…

Here is Edmonds’ 241-page transcript [PDF]  and her sworn video taped testimony during a 2009 case that Edmonds claimed Hastert was involved in…

The acceptance of large sums of bribery in forms of cash or laundered cash … to make it look legal for his campaigns, and also for his personal use, in order to do certain favors … make certain things happen for foreign entities and foreign governments’ interests, Turkish government’s interest and Turkish business entities’ interests … other activities, too, including being blackmailed for various reasons. … he used the townhouse that was not his residence for certain not very morally accepted activities. … foreign entities knew about this, in fact, they sometimes participated in some of those not maybe morally well activities in that particular townhouse that was supposed to be an office, not a house, residence at certain hours, certain days, evenings of the week.

Ex-Lehman CEO Has ‘No Regrets’ Over Collapse

The former head of Lehman Brothers has insisted it was “not a bankrupt company” at the time of its collapse in 2008.

In one of his first public appearances since the firm’s demise – where it filed for the largest bankruptcy in US history – Dick Fuld claimed that the US Federal Reserve could have saved Lehman Brothers.

The 69-year-old said the bank was “mandated into bankruptcy”, and went on to blame the 2008 global financial crisis on a “perfect storm” of factors – including rising unemployment and higher interest rates, which made mortgages unaffordable for many homeowners.

Mr Fuld also defended his decision-making in the run up to the financial crisis, adding: “Hindsight is 20-20. There is no ‘if this’ or ‘woulda, coulda, shoulda’. You make a decision with the best information you think you have.”

However, the financier admitted that “not a day goes by when I don’t think about Lehman Brothers,” adding: “I’d love to tell you I’m over it, it’s behind me – it doesn’t happen.”

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Former FBI translator and whistleblower Sibel Edmonds case: Dennis Hastert to receive payoffs for ‘services rendered’

And I remember Sibel Edmonds and her story. And the media certainly was silence on her story. Click here to read about Sibel Edmonds:

Edmonds gained public attention following her firing from her position as a language specialist at the FBI’s Washington Field Office in March 2002. She had accused a colleague of covering up illicit activity involving Turkish nationals, alleged serious security breaches and cover-ups and that intelligence had been deliberately suppressed, endangering national security.

The following clip from Kill The Messenger, a documentary about Sibel’s case, discusses some of Hastert’s involvement as mentioned in Vanity Fair. In Vanity Fair 2005 article, journalist David Rose  reported that there were three separate types of bribes paid to Hastert:
1) “(T)ens of thousands of dollars to be paid to Hastert’s campaign funds in small checks.”
2) “(T)ens of thousands of dollars in surreptitious payments in exchange for political favors and information.”
3) “(A)t least $500,000”

On a side note: Hastert reportedly resigned his position as a lobbyist at the firm Dickstein Shapiro, lobbying firm involved with Turkey.


Hastert, who allegedly said he didn’t trust banks, worked at firm that represents them

WASHINGTON (MarketWatch) — Dennis Hastert allegedly lied to federal investigators about not trusting banks. Until Thursday, he worked at a law and lobbying firm whose work includes representing them.

Hastert, a former speaker of the House of Representatives, was indicted Thursdayon charges he structured the withdrawal of $1.7 million in cash to evade reporting requirements. The Illinois Republican was also accused of lying to the Federal Bureau of Investigation. The charges relate to withdrawals he allegedly paid to keep someone quiet about his “prior misconduct.”

Read on.

OCC Takes Action Against Bank of America to Protect Consumers and to Ensure Servicemembers Receive Credit Protections for Their Non-Home Loans

NR 2015-74
Contact: Bryan Hubbard
(202) 649-6870

OCC Takes Action Against Bank of America to Protect Consumers and to Ensure Servicemembers Receive Credit Protections for Their Non-Home Loans

WASHINGTON – The Office of the Comptroller of the Currency (OCC) today assessed a $30 million civil money penalty against Bank of America, National Association, and ordered remediation to approximately 73,000 affected customer accounts.

The OCC took the actions against the bank for violations of law and unsafe or unsound practices in connection with the bank’s non-home loan compliance with the Servicemembers Civil Relief Act (SCRA), and unsafe or unsound practices in connection with non-home debt collection litigation practices.

The enforcement action is intended to correct deficiencies in the bank’s practices and procedures related to its SCRA-compliance program and to address the preparation and notarization of affidavits and other sworn documents used in the bank’s debt collection litigation.

The OCC’s enforcement action also directed the bank to improve its SCRA-compliance policies and procedures for determining whether military personnel are eligible for requested SCRA-related benefits, for ensuring that the bank calculates the SCRA benefits correctly, and for verifying the military service status of servicemembers prior to seeking or obtaining default judgments on non-home loans.  The enforcement action also directed the bank to improve its enterprise-wide compliance risk management program.

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Wells Fargo Settles

SAN FRANCISCO – A federal judge Thursday approved a $7.4 million settlement in deferred pay for Wells Fargo financial advisers who went to work elsewhere, $1.8 million of it for attorneys’ fees.

Source: Courthouse News