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« D.C. Judge OKs $12m Class Settlement Against National City Bank | Main | The Morning Wrap »

January 11, 2011


Matthew Elvey

whooper wrote:"hefty fine"
Article says: "During the credit crisis of 2007–2008, the fund’s assets fell from $13.5 billion to $1.8 billion."
Schwab paid a "$119 million settlement" and "In April, Schwab settled a class action related to the fund for $200 million.". The settlements seem less than hefty, in comparison to the losses. (Or did the fund later bounce back?)


Was there a whistleblower in this matter?

Joe Jefferis

It is unfortunate that the moderator removed the link to the website where the less fortunate have itemized and documented their history of grievances against Schwab and the US government's inaction.


Charles Schwab was dead on point when they expressed their concern that the Wall Street lenders have seeminly gone unscatched, when everyone knows that they are the real crooks behind this fraud! These fruadalunt loan products were at best illegal at conception! Now it appears that everyone else is paying for their greedy actions by going to jail or having to pay a hefty fine. It seems that the feds are "quarterbacking on Monday, when the game was played on Sunday". Attorney Susan Brune comments were true when when said the the SEC were using "hindsight bias" when trying to find persons to blame. I pray the courts will see though this scheme and do the right thing by quickly dismissing these charges.

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