Daily Archives: May 5, 2017

[Video] Bank of America CEO: Don’t break up the big banks

Housingwire:

From Bloomberg:

“It would be against America’s interests to break up the large banks,” Moynihan, head of the nation’s second-largest lender, said Wednesday at the Bloomberg Breakaway Summit in New York.

He was reacting to President Donald Trump’s comment in an interview with Bloomberg on Monday that his administration is actively considering splitting giant banks.

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Goldman Sachs win streak is focus of Treasury-rigging probe

The Justice Department’s investigation into Wall Street’s rigging of the $14 trillion Treasury market is zeroing in on Goldman Sachs — just as the bank’s former employees have taken over the agency that’s at the center of the probe, The Post has learned.

Goldman Sachs won almost all auctions for US Treasury bonds from 2007 to about 2011, a remarkable winning streak that came despite safeguards established by the Treasury to keep bidding competitive, sources familiar with the investigation said.

At the center of the case are chats and emails believed to show Goldman traders sharing sensitive price information with traders at other banks — a sign of possible price fixing and collusion, according to sources familiar with the investigation.

Read on.

HOUSE GOP JUST VOTED TO SLASH MEDICAID — WHICH PAYS FOR 60% OF PEOPLE IN NURSING HOMES

THE AMERICAN HEALTH CARE ACT, which squeaked through the House of Representatives on Thursday, is terrible for many Americans in many ways. But what’s gotten almost no attention is the horrendous effect it could have on Americans in nursing homes.

Daniel Webster, a Republican representative from the 11th Congressional District in central Florida, acknowledged this when he announced he would vote for the AHCA.

“I have been very concerned about Florida’s Medicaid-funded nursing home beds,” Webster said. “These are critical to the access some of our senior population has to our nursing homes.”

 

Read on.