The major indexes suffered their worst day in months as U.S. Investors joined the rest of the world cashing in chips.
Earlier in the year I wrote a piece about the way some banks were using Wal Mart customers as their primary source of income. Those banks decided many minimum wage earners needed a place to open a checking account and many of them would “borrow” money through bouncing checks and pay a healthy fee.
In one of the worst kept secrets on Wall Street, BNP Paribas SA has admitted to its past discretions and is in the final process of settling up with both U.S. prosecutors and the State of New York.
For the past thirty years Casinos have been the gift that keeps on giving to local and state politicians, but that may all be coming to an end.
Seventy-five years after barring foreign competition in the Oil market, Mexico has decided to change its constitution and allow foreign companies to participate in production of the black Gold.
On Monday Credit Suisse AG admitted it was involved in a criminal conspiracy to defraud the IRS and the state of New York and agreed to pay more than $2.6 billion in fines to various U.S. agencies including the IRS.
On Wednesday the tech giant delivered more bad news to investors, Big Blue hasn’t been making as much money as the Street wants it to make.
On Thursday a number of High Frequency Trading firms got a call from the New York Attorney General asking to tell them how they conduct their business.
As they like to say “back in the day” futures and indexes had a maximum amount they were able to move in a day.
On Wednesday the Fed released the minutes from their meeting in March and the market asked the question, is it safe?