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Bank CEOs Fooled by Notorious Email Prankster

No sensitive information was shared

(Newser) - Falling for a phishing scam is bad. Falling for a phishing scam when you're the CEO of a major bank, well, that's worse—and the unfortunate reality for Goldman Sachs' Lloyd Blankfein and Citigroup's Michael Corbat. The unsuspecting chief executives, along with Citigroup consumer-banking chief Stephen Bird,... More »

It Was a Routine Surgery. Then a Nurse Flipped a Switch

Private hospital in London is found negligent in banker's death

(Newser) - An inquest has blamed the death of an American banker who underwent a routine heart valve operation in Britain on a nurse's mistaken move, reports the Telegraph . Robert Entenman died in 2015 at age 57 at one of Britain's biggest private hospitals, London Bridge. The American, who left... More »

Bonuses for Wall Street Bankers Drop Most in 4 Years

But workers are still getting $146K

(Newser) - For Wall Street bankers, 2015 didn't turn out as well as it usually does in terms of bonuses. Per Bloomberg , the average bonus fell 9% last year to $146,200, which is the largest decrease since 2011, according to estimates by NYS Comptroller Thomas DiNapoli. As the Washington Post ... More »

Sources: NYC Banker May Have Slashed Own Throat

Knife was found under Shawn Miller's body, suicide now suspected

(Newser) - A prominent banker found dead in his bathtub with his throat slashed ear-to-ear may have taken his own life, according to police sources. Shawn Miller, Citigroup's managing director of environmental services, was initially thought to have been the victim of foul play, but a knife was found under his... More »

Banker Arrested in 'American Psycho' Slayings

British National Rurik Jutting arrested in deaths of 2 women

(Newser) - Hong Kong police say they have arrested a foreign man suspected of killing two women, including one whose body was found inside a suitcase on the balcony of the man's upscale apartment. Police say the 29-year-old-man asked them to investigate the case early yesterday at the apartment in Hong... More »

Financial Crisis a Joke at Secret Wall Street Party

Excerpt from Kevin Roose's 'Young Money' shows how the 1% gets down

(Newser) - Having ruined the global economy, why not celebrate with a party featuring homophobic jokes and music acts in drag? That's what reporter Kevin Roose discovered when he sneaked into the 2012 annual black-tie induction ceremony of Kappa Beta Phi, a secret Wall Street fraternity that's been around since... More »

AIG Chief: Bonus Backlash 'as Bad' as Lynchings

Robert Benmosche's comment prompts call for his resignation

(Newser) - Doing nothing to help rehabilitate the public image of bankers, AIG's CEO Robert Benmosche has sparked outrage by comparing backlash over the millions in bonuses the company paid staff in 2009 to racist lynchings. The uproar "was intended to stir public anger, to get everybody out there with... More »

Banker Blew $381K in Bailout Cash on Posh Condo

Pleads guilty, will face a year in prison—at most

(Newser) - Your daily blood boil: A former bank executive has pleaded guilty to using bailout money to buy a waterfront condo. In 2009, Darryl Layne Woods bought the luxury digs with some $381,000 of the $1 million given to Mainstreet Bank in Ashland, Mo., where he was the chairman at... More »

Cocaine the True Cause of Financial Crisis: Claim

Ex-UK drugs adviser David Nutt claims it made bankers 'overconfident'

(Newser) - Forget all those complicated economic explanations. The real reason for the financial crisis was simple: Bankers were doing too much coke, says a professor and former UK government drugs adviser. The drug made bankers "overconfident," prompting them to take "more risks," says David Nutt. Cocaine fueled... More »

Libor Scandal Just Bankers' Latest Hit on Reality

Today's corporations 'can't handle the truth': Peter Goodman

(Newser) - Don't be too surprised by the Libor scandal : It's only bankers' latest attempt to alter reality to their own benefit. Instead of acknowledging the troubling truth about Libor rates, Barclays opted to encourage more dangerous behavior by pretending everything was fine. The phenomenon goes beyond banking, writes Peter... More »

'Masters of the Universe' Sure Have Fragile Egos

It would be funny, if it weren't so 'shameful': Paul Krugman

(Newser) - Paul Krugman has some choice words today for the titans of Wall Street, who can't seem to take a little criticism from the president. "It has, in a way, been funny to see how childish and thin-skinned the Masters of the Universe turn out to be," he... More »

Mario Batali Pisses Off Wall Street

Perhaps not the best idea, considering bankers give him a lot of business

(Newser) - Wall Street bankers may be a little reluctant to shell out $145 for Mario Batali’s seven-course "tradizionale" dinners after they hear he compared them to, say, the architect of the Holocaust. “The way the bankers have kind of toppled the way money is distributed and taken most... More »

Bust Bankers, Not Protesters

Wall Street occupiers jailed when bankers are the real criminals: Michael Daly

(Newser) - The big banks’ financial maneuvers brought our economy to the brink of collapse, but you don’t see any bankers behind bars. Instead, it’s the Occupy Wall Street protesters who are getting arrested—for such heinous crimes as stopping traffic, writes Michael Daly in the Daily Beast . Goldman Sachs... More »

Inquest Probes Banker's Hanging With Prostitutes

Former exec hired women to punish him

(Newser) - Last year, an out-of-work British banker hired two prostitutes to stage his mock execution in the woods—and when they refused to follow through, he apparently hanged himself, the Daily Mail reports. This week, an inquest looked into the grisly details. Colin Birch, once an official at Deutsche Bank, had... More »

For 2012, Obama Wants 'Fat Cats' Back on His Side

The president reaches out to Wall Street donors

(Newser) - President Obama—who famously angered Wall Street executives by calling them “fat cats,” the New York Times reminds us—is now courting those same executives in his quest for re-election campaign contributions. He kicked off the push by hosting two dozen of them, many longtime donors, at the... More »

Did Bankers Go to Jail for Causing Great Depression?

No, although a couple were charged and some were embarrassed

(Newser) - The government could soon prosecute a few Wall Streeters who allegedly played a role in the financial crisis, and the commission that uncovered those at fault was modeled on a similar probe after the Great Depression. So did anyone who precipitated that collapse ever go to jail? Nope, writes Brian... More »

UBS to Workers: OK, Wear Whatever Skivvies You Want

Swiss bank goes back to basics after getting mocked

(Newser) - UBS is pulling back from its much-maligned and hilariously over-specific dress code —which recommended employees opt for "personality enhancing" makeup and "easily washable" underwear—the Wall Street Journal reports. The bank strips the previous 44-page style guide down to a few key elements, but now mandates that... More »

Boehner to Bankers: Beware Pro-Reform 'Punk Staffers'

Still, House minority leader says bill will take a year to pass

(Newser) - John Boehner gave comfort to an “enthusiastic” gathering of bankers yesterday, telling them that even if the Senate passes financial reform legislation it will languish in the House for many moons. “It’s just as likely that we’ll be talking about the same issue a year from... More »

Latvian 'Matrix' Hacker Exposes Corrupt Gov't

'Neo' digging out damning documents

(Newser) - A hacker on a mission to expose greed and waste in high places is rapidly becoming a folk hero in recession-hammered Latvia. The hacker, who uses the name Neo from the hero in the Matrix film series, has exposed the salaries of top government officials online and revealed that managers... More »

Obama Prods 'Fat Cat' Bankers on Reform, Loans

Meeting sparsely attended thanks to weather

(Newser) - Less than 24 hours after jabbing at "fat cat bankers," Barack Obama rounded up every one of them he could find and prodded them to lend more, modify mortgages, and get behind financial reform methods. "America's banks received extraordinary assistance from American taxpayers to rebuild their industry,... More »

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