Banking, Finance & Services
Greg Smith, a Goldman Sachs employee in London, has quit the company with a fiercely critical op-ed in the New York Times in which he accuses the Wall Street investment bank of losing its moral compass.
Three top executives at Anglo Irish bank are on trial for a secret scheme to buy their own bank's shares that eventually triggered the 2008 collapse of the Irish economy. The bankers allegedly hatched the plan to cover up bets made by Sean Quinn, once Ireland's richest man.
For the first time in the four-week trial of two former Enron executives, the actions of the company's directors in a critical month in 2001 came under scrutiny during a cross-examination.
State Farm Fire and Casualty Co. refuses to engage in the appraisal process to resolve Hurricane Katrina claims, even though its own policy mandates appraisal on demand when the amount of an insured loss is in dispute.
This profile of Depfa/Hypo Real Estate is from CorpWatch's EuroZone Profiteers report - a study of the the role of six major banks in Greece, Ireland and Spain during the EuroZone crisis. Loans from these banks helped fuel the credit boom that left borrowing countries deep in debt.
While the world's biggest CEOs and politicians gather in Davos, Switzerland to network and negotiate, activists and NGO-workers meet halfway around the world in Porto Alegre, Brazil to imagine other, more humanity-focused possibilities.
The US authorities are expected to unveil a setlement with KMPG over its past sales of allegedly abusive tax avoidance schemes in order to avoid trial.
Record fines adding up to $36 billion have been paid out in the last 12 years by multinational corporations to the U.S. government to settle charges of corruption and fraud. But are they getting away with a slap on the wrist to avoid prosecution for major crimes?