Wall Street Journal: Kirsten Grind, James Sterngold and Juliet Chung: Bank Urge Clients to Take Cash Elsewhere. Banks Urge Clients to Take Cash Elsewhere New Rules Mean Some Deposits Aren’t Worth It, J.P. Morgan, Citigroup and Others Tell Large U.S. Clients By Kirsten Grind, James Sterngold and Juliet Chung Banks are urging some of their largest customers in the U.S. to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposits. (ITS ABOUT TIME. TAXPAYERS GOING BROKE. WE NEED A LOT, LOT MORE REAL REGULATIONS ON THE BIG INVESTMENT BANKS. HEDGE FUNDS AND PRIVATE EQUITY HAVE VIRTUALLY NO REGULATIONS AND TAXPAYERS ARE ON THE HOOK FOR ALL THOSE TOXIC DERIVATIVES AND THAT RIDICULOUS LEVERAGE RATIOS THEY ARE USING. THIS IS BEING DESCRIBED IN DETAIL IN THE BOOK MONEY AND POWER: HOW GOLDMAN SACHS CAME TO RULE THE WORLD BY WILLIAM D. COHAN. IN 1996, GOLDMAN SACHS WAS THE LAST PRIVATE INVESTMENT BANK ON WALL STREET.
Posted on: Wed, 10 Dec 2014 18:16:07 +0000
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