Home » World News

Corporate Corruption

The Libor swindle

By Andre Damon, December 22, 2012

Not only has the Libor swindle exposed the criminality of the banks, it has laid bare the nexus of corruption and complicity involving governments and financial regulators the world over.

Above the law

By Barry Grey, December 14, 2012

The financial robber barons of today are a law unto themselves.

BP settles for $4.5 billion in federal criminal charges

By Bryan Dyne, November 17, 2012

BP has reached a settlement on all criminal claims with the US Department of Justice and on all securities claims with the Securities and Exchange Commission relating to the explosion of the Deepwater Horizon oil rig.

US suit vs. Bank of America: No criminal charges despite “spectacularly brazen” fraud

By Barry Grey, October 27, 2012

Not a single high-level banker has been prosecuted, let alone jailed, since the Wall Street crash of September 2008.

Morgan Stanley fine upheld in electricity price-fixing scam

By A. Woodson, October 18, 2012

A Federal District Court judge in Manhattan has upheld a $4.8 million fine against Morgan Stanley for creating a derivatives deal.

US to drop criminal probe of MF Global

By Barry Grey, August 21, 2012

In the figure of former MF Global CEO Jon Corzine, key aspects of the criminalization of the US ruling elite and the thoroughgoing corruption of its political system come together.

Libor scandal exposes banks’ rigging of global rates

By Barry Grey, July 6, 2012

Rotting in its own criminality, the capitalist financial system produces ever more powerful arguments for its expropriation and reconstitution under public ownership and democratic control.

Allegations of government collusion in Libor fixing raised in UK Parliament

By Christopher Marsden, July 6, 2012

The declaration by chairman Andrew Tyrie that some of what Barclays chief executive Bob Diamond said in testimony to the parliamentary Treasury Committee seemed “implausible” ranks as a masterpiece of understatement.

The bankers rule: Jamie Dimon at the US Senate

By David Walsh, June 16, 2012

The members of the Senate Banking Committee treated JPMorgan CEO Jamie Dimon with awe and reverence.

Documents in US foreclosure settlement highlight lawlessness of the banks

By Barry Grey, March 16, 2012

On Monday, the settlement between five major US banks and the federal and state governments of foreclosure-related fraud charges was filed in federal district court in Washington DC.

An insider’s view of Wall Street criminality

By Andre Damon, Barry Grey, March 15, 2012

Greg Smith, an executive director at Goldman Sachs, announced his resignation Wednesday in an op-ed piece public in the New York Times, denouncing the bank's “toxic” culture of avarice and fraud.

A4e scandal highlights looting of UK social spending by private companies

By Julie Hyland, March 1, 2012

The scandal surrounding the welfare-to-work firm A4e (Action for Employment) has again exposed how large swathes of public funds have been handed over to private corporations, under both Labour and the Conservative-Liberal Democrat coalition.