JP Morgan (JPM) is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food ... Read more...
AIG has filed a $10 billion lawsuit against Bank of America over allegations of mortgage-backed securities (MBS) fraud. AIG claims that Bank of America and several of its acquisitions, including Merrill Lynch and Countrywide, of misrepresenting the quality of the mortgages that went into bundle... Read more...
Two years ago, a Stanford business school student named Tristan Walker sent Foursquare cofounders Dennis Crowley and Naveen Selvaduraian email out of the blue, asking for a job. Today, Tristan is Foursquare's director of business development. During his tenure, he's built partnerships between F... Read more...
Remember the outrage over lavish Wall Street bonuses doled out in the wake of the financial crisis? The brouhaha supposedly put an end to the outrageous pay packages enjoyed by many American CEOs -- and not just in the financial sector. But over two years later, very little has changed. A ... Read more...
Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer. "Everything's fucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Jus... Read more...
Mozilla has proposed technology that would allow the user to implement so-called Do Not Track features to stymie behavioral advertising. The big question is whether these moves by Mozilla, Google and Microsoft will be enough to take Do Not Track features mainstream. Mozilla’s draft policyâ... Read more...
In his latest letter to subscribers, Shadowstats' John Williams dissects recent economic data, and after providing yet more evidence that after the recent period of "bottom-bouncing at a low-level plateau of business activity" the economy has once again entered a double dip. Overall, it has cost t... Read more...
A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion mun... Read more...