Banking industry forecast to lose 200,000 jobs

More job losses are forecast for the banking industry, just as some thought the situation was under control. For the first time in 40 years insitutions that take deposits, make loans, etc, are experiencing a downturn. Analysts at the financial research firm Celent LLC said in a report Tuesday that it expects the U.S. commercial …

Second Clinton subprime relationship looks bad

A month ago, The Wall Street Journal reported that Clinton ally and former HUD Secretary Henry Cisneros grossed more than $5 million in stock sales and board compensation from Countrywide Financial, one of the nation’s largest subprime lenders. Mrs. Clinton’s campaign manager and longtime aide Maggie Williams made US$200,000 by working on the board of …

Only paid $1.5 million for destroying Northern Rock

People have an amazing ability to justify anything in their minds. ‘Abilities’ is defined in the free dictionary as “The quality of being able to do something, especially the physical, mental, financial, or legal power to accomplish something.” Our emphasis is on the financial. (perhaps it should be on the power to accomplish something?) Positive …

Clinton campaign manager was director for failed subprime lender

Hillary Rodham Clinton’s campaign manager, Maggie Williams, earned about $200,000 on the board of a Long Island subprime lender that charged prepayment penalties — a practice that Clinton, a critic of the subprime industry, now seeks to eliminate. Williams, who took over the reins of Clinton’s campaign in early February, served as a director on …