Daily Archives: November 2, 2016

Shawn Lucas, process server in DNC lawsuit died of powerful mix of drugs: Chief Medical Examiner’s Office

From DNC Fraud Lawsuit facebook, the plantiffs’ lawyers in the DNC lawsuit was sent this email  from the Chief Medical Examiner’s Office regarding Mr. Lucas. His death is ruled as an accident:

 

 

BIG BANKS TWEAK BUSINESS PLANS TO AVERT NEW REGULATOR COSTS

Five of the country’s biggest banks detailed tweaks to their business models in hopes of persuading regulators they could absorb significant financial distress without requiring taxpayer funds to stay afloat.

The stakes are high for J.P. Morgan Chase & Co., Bank of AmericaCorp., and three others. If regulators deem these revisions of their so-called living wills—made public by the government Tuesday—to be insufficiently credible, those institutions could be ordered to hold higher levels of capital on their books, or to restructure and shed business lines.

Regulators are facing considerable pressure from politicians to use this process to break up the biggest banks, with many—notably Massachusetts Democratic Sen. Elizabeth Warren—arguing these institutions remain “too big to fail.”

Read on.

JPMorgan Will Pay $85M To Clean Up Calif. Landfill Site

Law360, Los Angeles (November 1, 2016, 10:04 PM EDT) — JPMorgan Chase will fund an $85 million cleanup plan for a shuttered landfill and leachate treatment plant in greater Los Angeles, according to a proposed consent decree outlined Tuesday by state and federal regulators in California federal court.

JPMorgan, as a successor in interest to the BKK Sanitary Landfill site in West Covina, will fund $85 million of future cleanup work after decades of waste treatment and release of hazardous substances such as mercury, copper, lead, chromium and at least two dozen other materials classified as…

Source: Law360

Exclusive: Brazil prosecutor investigates funds’ investment in Trump Hotel Rio

A Brazilian prosecutor has opened a criminal investigation into investments made by two state pension funds in a luxury Rio de Janeiro hotel that is part of the Trump franchise, according to a court filing reviewed by Reuters on Tuesday.

The 130 million reais ($40 million) investment by the two small funds in the hotel’s developer “required investigation” due to its size, structure and high level of risk, Anselmo Lopes, a federal prosecutor in Brasilia, said in the document dated Oct. 21 that opened the inquiry.

Lopes said the pension fund for state IT firm Serpro and the Igeprev fund for employees of Tocantins state invested the money in the developer, LSH Barra Empreendimentos Imobiliários SA, which built the Trump Hotel Rio de Janeiro.

“Investing amounts of such size, for these (relatively small) pension funds, breaks principles for diversification and liquidity,” Lopes said in the document.

“It is necessary to verify if the favoritism shown by the pension funds towards LSH Barra Empreendimentos Imobiliários SA and The Trump Organization was due to illicit payments and bribes,” Lopes said in the 15-page document.

Read on.