Business

Published — December 28, 2014 Updated — December 29, 2014 at 9:23 am ET

Finance findings you may have missed

The Center for Public Integrity’s best financial reporting from 2014

Introduction

Financial reporting led to some of the Center for Public Integrity’s most interesting stories of 2014, including our first news documentary, all with the same theme: How big financial institutions profit off homeowners, investors and consumers.

We expect more stories will share that theme in 2015, but this week we’re highlighting our major investigations from 2014 in handy, easy-to-read format. Don’t want to miss out? Sign up and receive them via email.

Here are the key findings from a year’s worth of financial investigations:

1. Who carries Wall Street’s water?

The financial services industry has made good friends with a handful of members of the House of Representatives, to the tune of $149 million in political contributions. In return, Wall Street wields influence as lawmakers draft legislation and roll back parts of Dodd-Frank. One of the so-called “banking caucus”, Shelley Moore Capito, will head to the Senate in 2015.
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2. Florida’s foreclosure fallout

Barely recovering from the financial crisis of 2008, Florida has established a separate legal system for foreclosure procedures. The system, the Center found, includes practices that a Florida Supreme Court judge labeled “improper” and often leaves homeowners stuck with debt and responsibility for homes they haven’t occupied for years.
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3. How $120 becomes $94.40

The Center’s investigation into the prison banking system tracked how money sent from families of inmates disappeared into a web of fees, fines and kickbacks. It also led people in power to take a deeper look at the prison finance system. In the wake of the Center’s investigation, the no-bid contracts Bank of America and JPMorgan enjoy in federal prisons have been questioned by senators and Treasury. In addition, fees for money transfers in three states have been removed.
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install itunes on windows 7Bob FrankstonLinda GordonET69Jello Beyonce Recent comment authors
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sam fetters
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sam fetters

What do AT&T, Verizon and Crown Castle International Corp have in common? The largest institutional shareholders of each includes firms like: Vanguard, BlackRock, State Street (the “Big Three”), Invesco, Fidelity (FMR), JP Morgan, Wellington Management, Geode, T Rowe Price, Bank of America, and other of the largest money-management and investment firms, whom operate collaboratively (even comprising the largest shareholders of each other), forming virtual monopolies amongst the largest “competing” corporations, in most every single industry, via large share holdings. (source = http://investors.morningstar.com/ownership/shareholders-major.html?t=CCI) These are the same firms whom also largely own the third largest telecom, T-Mobile. The own the largest… Read more »

Jello Beyonce
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Jello Beyonce

I’ve a theory that the supposed “Trade Wars” and “sanctions” and political/military strife going on between the U.S., China, Russia, etc. are merely distractions, serving to divert attention away from the growing authoritarianism and Oligarchic control spreading across the globe. “Nationalism” is being used as a propagandist covert means of continued increasing Globalism. As this article states: “A Russian woman stood up to speak at one of these public meetings, and she said that when she lived in Russia, the government slam dunked her and she had no say,” King said. “Now she lives in the United States of America,… Read more »

ET69
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ET69

Marx was right about capitalism . Capital gets more and more concentrated in fewer and fewer hands. There is no way out of this greed. We need socialism!

Linda Gordon
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Linda Gordon

5g is a kill grid. The depployment of this weapon is an act of terroism genocide and ecocide. The marketers need to be jailed as terrorists.

Bob Frankston
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The real issue with 5G is that it’s an attempt to roll back the Internet and return to the telecom of the 1970s when the phone company controlled all.

install itunes on windows 7
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I have read the post and it is really helpful as I have got to know about the 5G wireless cities which are accepting the technology and other cities which are rejecting it.