Tag: Jeff Horwitz
Weekend wrap-up: 1/30 to 2/3/12
Here’s all the great stuff you missed on the Finance Addict this week. And also check out our GIF of the Week after the jump!
- Banks to face the RICO Act for robosigning credit cards? While the RICO Act’s usually exercised against organized crime rings, it may be used against banks who’ve supported credit card robosigning.
- Germany plays hopscotch over the rubicon. Angela Merkel of Germany is blithely hopscotching over a point of no return.
- Shareholder rights again under attack. What will the landscape look like if Carlyle Group wins its battle to erode shareholder rights?
- Are we going to own AIG forever? Here’s the thing: AIG is not so sure that we’ll ever get our $51 billion back.
- We don’t need no education. Another view of how the banks, the politicians and the press work together to keep in place a status quo favorable to banking interests.
- Sometimes the “long-term” never comes. It’s easy to forget the extraordinary, unprecedented amount of assistance being lent to the economy by the central banks.
- They *do* exist. A regulator who’s resistant to corporate lobbying? Hallelujah!
- Who really pays for the things we love? Many will watch the Superbowl and use our iPhones to share the experience. But if we’re honest we’ll take our wings with a side of guilt.
Banks to face the RICO Act for robosigning credit cards?
Earlier this month I wrote about how robosigning (illegal practices involving false affidavits, bogus notaries, dead signers and other such niceties) is not just an issue for mortgages and foreclosures. Other forms of consumer credit — most notably credit cards — are affected by these practices, too. And now there’s discussion of whether banks could face prosecution for this under the RICO Act, a law most commonly used against organized crime rings. Quite a change from the usual white-collar stuff, don’t you think? Continue Reading
