By: Matthew Arndt, CFA, CPA, CFP | February 5, 2010 | The Regulators, Wall Street Ethics

Just when you thought the ill stench wafting from Wall Street couldn’t get any worse. A recent U.S. report details how large American banks like Citigroup, Bank of America, and JP Morgan Chase facilitated the laundering of hundreds of millions of dollars on behalf of corrupt foreign officials who were subjects of criminal investigations into [...]

By: Matthew Arndt, CFA, CPA, CFP | August 6, 2009 | Investor Information, The Politicians, The Regulators, Wall Street Ethics

Everything appeared to be going as planned for Bank of America with its settlement to the SEC until a U.S. federal judge decided to put the brakes on. Bank of America was hoping it could sweep this “minor inconvenience” under the rug for a mere $33 million. In an attempt to unveil the truth, Judge [...]

By: Matthew Arndt, CFA, CPA, CFP | June 24, 2009 | The Politicians, The Regulators, Wall Street Ethics

In a story that has gone for the most part unnoticed, Citigroup and Bank of America, both of whom have received massive infusions of taxpayer money in the past year, are now scheming to get around the recent limits being placed on annual bonuses.  Both are expected to raise base salaries for investment bankers and [...]

By: Matthew Arndt, CFA, CPA, CFP | May 21, 2009 | Bad Financial Advice, Investment Performance, Wall Street Ethics, Who Can I Trust?

It is amazing that a bank can fail a stress test, be undercapitalized, and yet still impress shareholders. At least that is how it appears with the recent Bank of America (BAC) stock price rally. The share price of BAC has been on an upward tear following the announcement it will raise almost $13.5 billion [...]