The city currently deposits money at 31 banks — among them JPMorgan Chase, Citibank, Bank of America, Capital One, Deutsche Bank, HSBC and Wells Fargo — chosen for their financial soundness and ratings by federal and state agencies.
Swiss banks can’t agree on the terms of a settlement with the U.S., Tages-Anzeiger reported earlier today, without saying where it got the information.
Claimants sought $7,000,000.00 in compensatory damages, $14,000,000 in punitive damages, interest, attorneys’ fees; costs; and expenses.
JPMorgan Chase, the largest bank in the United States, said yesterday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.
The bill, introduced by Congressman Bill Pascrell, D-N.J., and Sen. Debbie Stabenow, D-Mich., would provide a 20 percent tax credit to U.S. companies that bring jobs and business operations back to America, while ending tax breaks for companies that send
William Cohan at Bloomberg found one exchange between Fuld and David Goldfarb, the bank's CFO, concerning a possible injection of capital by Chinese investment bank Citic Group, capital the bank desperately needed.
The promised principal protection constituted a gross deception because the Lehman notes represented nothing more than unsecured loans by the investors to a financially faltering Lehman, according to the claims.
Allegations against the bank include fraud, fraudulent inducement and negligent misrepresentation over the sale of the securities, according to documents filed in New York State Supreme Court yesterday.
Nissan and Nugent have represented clients across a broad spectrum of sectors, including the manufacturing; entertainment; Internet; technology and software; consulting; and product distribution industries.