Topic: Wells Fargo & Company

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  • Richard Eggers arrested for fake dime in 1963. Fired in 2012.

    Richard Eggers's fake dime crime 49 years ago has caused Wells Fargo to fire him in the wake of tightened federal rules on hiring. Richard Eggers says his use of a fake dime in a laundromat was a 'stupid stunt.' 

  • Federal Deposit Insurance Corporation: Bank profits up from 2011

    Federal Deposit Insurance Corporation (FDIC) said Tuesday that the banking industry earned $34.5 billion in the second quarter, up from $28.5 billion in the second quarter of 2011. Banks were also less cautious about lending, though earnings growth remained 'sluggish' according to the Federal Deposit Insurance Corporation.

  • As Standard Chartered plunges, taint for London banks spreads

    Standard Chartered loses a fifth of its value in early trading a day after allegations of money laundering for Iran. It's the latest of a long string of scandals for London banks.

  • Haunted by Europe, US market can't get ahead

    While The Street was able to ignore Europe's struggles for the past few days, the struggles of Spain on Friday proved too much for the market to bear. As Spain's stock market plunged 6 percent, the Dow Jones dropped 120 points to close at 12,822.

  • Morgan Stanley earnings fall sharply

    Morgan Stanley misses Wall Street expectations as revenue for its investment banking unit falls 37 percent. Morgan Stanley stock drops.

  • Jump in housing starts, earnings send stocks up

    New signs of recovery in the housing market and strong corporate earnings sent stocks higher for a second straight day. The Dow Jones rose 103 points, to close at 12,908. The positive showing comes on the heels of an otherwise dismal start to July trading.

  • The Daily Reckoning Did the Feds rig the system?

    Bill Bonner and the analysts over at The Daily Reckoning are feeling fairly vindicated this week. They have been investigating how the federal government may have rigged the system over the past 30 years, directing funds to help the rich get richer.

  • Happy Friday! JPMorgan launches stock market rally

    Showing a vote of confidence in JPMorgan Chase Friday, relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month, to close at 12,777.

  • US stocks plunge after weak June jobs report

    Despite preparing for a poor showing, the Dow Jones average plunged 124 points to close at 12,772. The US government reported that only 80,000 jobs were created in June, the third straight month of sluggish growth and weak hiring.

  • Stocks rise as oil prices, factory orders also climb

    In an abbreviated holiday trading session energy stocks rose due to increased tension over Iran. The major stock indexes moved higher after the government reported that factory orders rose in May. The Dow Jones rose 72 points to close at 12,943.