Vatican Bank boss fired over alleged mismanagement (Catholic Caucus)
Posted by admin / Under Bank Alfalah
Ettore Gotti Tedeschi, former president of the Vatican Bank. Vatican City, May 25, 2012 / 10:17 am (CNA/EWTN News).- The President of the Vatican Bank, Ettore Gotti Tedeschi, has been fired from his post following a vote of no-confidence by the bank's supervisory board. “Over time this area had generated increasing worries among the members of the board and, despite repeated efforts to communicate these concerns to Professor Gotti Tedeschi, President of the Works of Religion, the situation deteriorated further,” read a communiqué issued by the Vatican May 25. “Following discussion of the issues, the board members voted unanimously in...
Published on Sunday 27th of May 2012 10:23:15 AM
Bankia SA : Spain's Bankia shares suspended: regulator (Spain's Largest Bank!)
Posted by admin / Under Bank Alfalah
Trading in the securities of Spanish lender Bankia has been suspended "due to circumstances that may affect the normal share trading," stock market regulator CNMV said on Friday. Bankia will ask the state for more than 15 billion euros ($19 billion) to bail it out when its new management team presents a restructuring plan on Friday, a financial sector source said late on Thursday.
Published on Sunday 27th of May 2012 10:23:15 AM
JPM Crashing After It Convenes Emergency Call To Advise Of "Significant Mark-To-Market" Losses
Posted by admin / Under Bank Alfalah
Out of nowehere, JPM announced 40 minutes ago that it would hold an unscheduled 5pm call to coincide with the release of its 10-Q. Rumors were swirling as to why. The reason is as follows: JPMORGAN SAYS CIO UNIT HAS SIGNIFICANT MARK-TO-MARKET LOSSES - "Fortress balance sheet" at least until Bruno Iskil gets done with it. JPMORGAN SAYS LOSSES ARE IN SYNTHETIC CREDIT PORTFOLIO - but, but, net is NEVER, EVER Gross. JPM WOULD NEED $971M ADDED COLLATERAL IF RATINGS CUT ONE-NOTCH JPM WOULD NEED $1.7B ADDED COLLATERAL IF RATINGS CUT 2 NOTCHES - how about three notches? JPMORGAN: MAY...
Published on Sunday 27th of May 2012 10:23:15 AM
Does YOUR financial institution support your Second Amendment rights?
Posted by admin / Under Bank Alfalah
Two recent pieces of news drive home the importance of making sure that your bank respects your Second Amendment rights. Earlier this month, McMillan Group International, LLC announced that Bank Of America had severed ties with their company specifically because, in the years since they'd opened their accounts, McMillan had transitioned into a firearms manufacturing role. From a statement released by McMillan on April 19: McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group International have been collectively banking with Bank of America for 12 years. Today Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking, Global Commercial Banking came...
Published on Sunday 27th of May 2012 10:23:15 AM
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