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New York Community Bancorp sent its shares plummeting 26% on Friday after the regional lender said has discovered “material weaknesses” in the ways it tracks loan risks and that its CEO is leaving. The New York-based firm announced late Thursday that CEO Thomas Cangemi would be leaving NYCB — capping off a 27-year tenure at NYCB — and that Alessandro DiNello would take his place, effective immediately. DiNello, NYCB’s executive chairman, had been acting as the bank’s true boss since earlier this month ... One NYCB director, Hanif “Wally” Dahya, said in a Feb. 25 letter that he “did not...

QUEENS, NY (TND) — A shocking arrest was made in an apparent homegrown terrorism case involving two brothers in Queens, New York. Authorities said an arsenal of homemade weapons and a "hit list" listing "cops, judges, politicians, celebrities" and “banker scum” were found when the suspected anarchists were arrested at their home. New York police arrested 39-year-old Andrew and 51-year-old Angelo Hatziagelis. On January 17, a search warrant was served at their Astoria apartment that the brothers shared with their mother and another brother.

During yesterday’s Senate Homeland Security and Government Affairs Committee hearing, Kentucky Senator Rand Paul took the opportunity to confront the Dept of Homeland Security (DHS) and FBI with the recent history of their activity.As noted by Senator Paul, the past several years exhibits clear and irrefutable evidence of the DHS and FBI working collaboratively to conduct surveillance on American citizens, while simultaneously violating the first amendment by coordinating with big tech social media companies on censorship...For those who believe the bankers control everything, Jack Lew is a case study.President Obama’s first chief of staff was Rahm Emanuel, he sat on...

The ‘House Select Committee on the Chinese Communist Party’ was in session when a Code Pink activist disrupted it by holding up a sign reading, “China Is Not Our Enemy.” “The United States needs collaboration, not competition, with China,” she insisted. Collaboration was the correct term. While most people stopped paying attention to Code Pink in the aftermath of the Iraq War, the leftist anti-war group never went away, but beyond the backing for Venezuela, Iran and the other usual terror states, it’s become a vocal defender of China. The level of collaboration between Code Pink and China is unusual...

Treasury Secretary Janet Yellen said Tuesday that the period of turmoil in the financial sector following the failures of several large banks may be coming to an end. “The situation is stabilizing,” she said Tuesday at a conference of the American Bankers Association, the largest trade group for U.S. banks, in Washington, D.C. As evidence, Yellen cited increased lending to banks from the Federal Reserve, including from a new line of credit that was set up by the Fed and backstopped by taxpayer money. She also said that flights of deposits out of smaller banks to the banks that were...

After a tumultuous week of violent lurches higher (but mostly lower), the S&P 500 has ended April with its worst start to a year since the start of World War 2...Vacation bookings are soaring, car sales are booming and Americans continue to spend with abandon, thanks to higher wages and brisk hiring; and yet, the economy unexpectedly contracted in the first quarter, led by trade deficits and a drop in inventory purchases.“The market is worried about a very fragile economic outlook, as it should be," said Joe LaVorgna, chief Americas economist at Natixis and former Trump White House economic adviser.“The...

Another scandal for the "scandal-free" Obama administration. Not all ICE targets work construction or smuggle drugs. Some are key figures in the Dem machine. But the era of Obama corruption is over. There's a new sheriff in town. U.S. Immigration and Customs Enforcement (ICE) this week arrested two millionaire fugitives from Ecuador whose family donated heavily to American political campaigns. Roberto and William Isaías, 74 and 75, were detained Wednesday in Miami and taken to a detention facility for undocumented immigrants awaiting deportation, The New York Times reported Friday. ICE told the Times that the brothers were “unlawfully present” in...

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When reporters Will Fitzgibbon and Debbie Cenziper began digging into the Pandora Papers — nearly 12 million confidential files leaked to the International Consortium of Investigative Journalists whose contents would go on to reverberate across the world — they noticed something curious. In the trove of documents, which expose a secretive financial system that shields the deals and assets of some of the world’s richest and most powerful people, one U.S. state, South Dakota, stood out. “We early on found a document in the leaked records that showed that there were a number of trusts established in South Dakota, and...

Several senior executives of Chinese banks were put under investigation or arrested over recent weeks as China tightened the fight against corruption in the financial sector, according to the Central Commission for Discipline Inspection (CCDI), the highest internal disciplinary body of the Communist Party of China (CPC). Xie Hongru, former Party chief and former head of the Guangzhou branch of CITIC Bank, was put under investigation on Friday. The same day, Gao Youqing, former Party chief and former head of the Jiangsu branch of the Agricultural Bank of China, was expelled from the Party. On Thursday, He Xingxiang, deputy governor...

As Deutsche Bank continues with the biggest blood-letting on Wall Street since the collapse of Lehman Brothers, managers are reportedly planning to move thousands of Manhattan-based associates, often those with the most important front-office-type jobs in sales and trading.Ever since DB moved to expand its presence in the Americas during the late 1990s-2000s, thousands of young employees, from interns to first-year analysts, have flocked to places like Murray Hill and other parts of Manhattan to work at the city's investment banks, and generally live the young banker lifestyle of late nights out at bars on the lower east side and...

Dan Alexander Forbes Staff Billionaires Senior editor at Forbes, covering Donald Trump's business. Donald Trump continued to shift money from his donors to his business last month, as his reelection campaign paid his private companies for rent, food, lodging and other expenses, according to a review of the latest Federal Election Commission filings. The richest president in American history, who has yet to donate to his 2020 campaign, has now moved $2.3 million of contributions from other people into his private companies. The most recent expenses look familiar. The president accepted $38,000 in rent last month through Trump Tower Commercial...

Cabinet Room3:39 P.M. EDTTHE PRESIDENT:  Well, thank you very much.  And we are having a meeting — a very important meeting — with the, I would say, the greatest bankers in the world, the most important banks in the world, financial centers, and having a good discussion.  We’re discussing the economy.  We’re discussing how it relates to jobs and all of the things that are happening right now with the virus that we’ve become so familiar with.I’ll be making some decisions.  I’ve already made some decisions actually today, but I’ll be making some other ones that are very important. ...

JPMorgan CEO Jamie Dimon is recovering from emergency heart surgery the company disclosed Thursday evening. Co-Presidents and Chief Operating Officers Daniel Pinto and Gordon Smith released a statement to employees and shareholders: "We want to let you know that Jamie experienced an acute aortic dissection this morning. He underwent successful emergency heart surgery to repair the dissection. The good news is that it was caught early and the surgery was successful. He is awake, alert and recovering well. Our Lead Director, Lee Raymond, said today, “Our Board has been fully briefed on these developments and has asked Daniel and Gordon...

MIAMI — The donations kept pouring in: hundreds of thousands of dollars in campaign contributions to President Obama and more than a dozen members of Congress, carefully routed through the families of two wealthy brothers in Florida. They had good reason to be generous. The two men, Roberto and William Isaias, are fugitives from Ecuador, which has angrily pressed Washington to turn them over, to no avail. A year after their relatives gave $90,000 to help re-elect Mr. Obama, the administration rejected Ecuador’s extradition request for the men, fueling accusations that such donations were helping to keep the brothers and...

New York Senator Charles Schumer was instrumental in getting Bharara appointed to that position and in return was asked from time to time to do favors for the senator and his allies. Up until recently, President Trump had no idea what was really going on. Once President Trump’s staff understood the quid pro quo, they had no choice but to ask for Bharara’s resignation. In 2015, Puerto Rico defaulted on $70 billion in municipal bonds. Those involved panicked. There was ample evidence that the issuing agencies were technically bankrupt when they issued the bonds and that they purchased fraudulent credit...

I recently had the opportunity to read "The Creature from Jekyll Island" by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions. America joined World War I largely to help a few bankers profit off the war (despite a long-standing Monroe doctrine that prohibited our involvement in European affairs) The Bolshevik Revolution of 1917 was supported by international financial interests in order to destabilize Russia and steal the wealth of the Russian people; and So-called "foreign aid" is merely a...

wo American sisters found unresponsive in their resort in the Seychelles died of excess fluid in their lungs, according to authorities in the island nation off Africa’s east coast. Autopsies performed Wednesday showed Robin Korkki, 42, of Chicago, and Anne Korkki, 37, of Denver, died from acute pulmonary edema, or fluid in the lungs, police told the Seychelles News Agency. Cerebral edema, or excess fluid in the brain, also contributed to Anne Korkki’s death, the news agency reported. No explanation was offered for the fluid buildup in the women’s lungs. Experts are conducting a toxicology analysis in a forensic laboratory...

“Too often,” Obama lectured Wall Street in March 2008, “we’ve excused and even embraced an ethic of greed, corner cutting and inside dealing that has always threatened the long-term stability of our economic system. Too often, we’ve lost that common stake in each other’s prosperity.” If by “quick” you mean 3 months, chauffeured from one exotic island paradise to another by multi-billionaires. Not that there’s anything wrong with that. Think of it as just another way to find “that common stake in each other’s prosperity.”So when Barry told us back in 2009 that he didn’t run to help a...

While Jamie Dimon tried to maintain his traditionally optimistic outlook in his annual letter to shareholders, there was a distinct undertone of pessimism in the latest 45 page letter released earlier today, in which he writes that while the U.S. is "truly an exceptional country," probably stronger than ever before, he cautions that "something is wrong - and it's holding us back."Here are the highlights from the gloomy passage reposted below in its entirety.Dimon's letter notes that the economy has been growing much more slowly in last decade or two than in the 50 years before then, with real...