George Soros sells all shares of Citigroup, Bank of America and JP Morgan


George Soros dumped his stakes in banks and went for tech and gold miners in the first quarter

Well if we go back to this story I am following

List of Dead bankers, a sign “Something” is coming, I say the US dollar is close to total collapse!
http://shaunynews.com/2014/04/07/another-banker-found-dead-along-with-wife-and-daughter/

Russia and China dropped the Dollar earlier this week
http://shaunynews.com/2014/05/21/russia-and-china-dumped-the-us-dollar-petro-dollar-and-dow-drops/

WASHINGTON (INTELLIHUB) — Just over 2 decades ago banker George Soros made his most famous investment by shorting the British pound and pocketing a billion dollars in the process. Since then he has become famous for betting on stock market crashes and in some cases even rigging markets to fail for his own gain.

Just months ago, Soros made headlines by making a billion dollar stock bet against the S&P 500. At the time this was said to be a sign of trouble ahead for the US economy, as Soros has seemed to have had advance knowledge of market crashes in the past. As a result of this reputation, investors have begun to keep a close eye on his holdings. This week investors took notice again when Soros sold his shares of three major American banks, including Bank of America, JP Morgan and Citigroup.

The Wall Street Journal reported that “George Soros dumped his stakes in banks and went for tech and gold miners in the first quarter, according to a filing with the Securities and Exchange Commission Thursday. Soros sold his holdings in Citigroup (NYSE:C) , J.P. Morgan (NYSE:JPM) and Bank of America (NYSE:BAC)”

In February 2009, Soros said the world financial system had effectively disintegrated, adding that there was no prospect of a near-term resolution to the crisis. “We witnessed the collapse of the financial system … It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”

#bank-of-america, #banking, #ceos, #citigroup, #corporate-greed, #george-soros, #jp-morgan, #lies, #the-wall-street-journal, #wealth

US:”Banks Have Set Aside Extra Money to pay for `Potential Legal Costs in Part Due To JP Morgan Chase & Co’ Bad Mortgage Business”

#AceFinanceNews says according (Reuters) – Several large U.S. banks have set aside extra money to pay for potential legal costs in part because of JPMorgan Chase & Co’s massive $13 billion settlement with U.S. authorities over bad mortgages, according to two sources familiar with the situation.

The size of the JPMorgan settlement, which the government called the largest in U.S. history, led many banks to realize that the cost of resolving some of their own legal problems was likely to be higher than they had initially believed, the sources said.

Justice Department officials have said in public statements they want to use the JPMorgan settlement as a template for deals with other banks.

Bank of America, Citigroup, Goldman Sachs and Morgan Stanley all added hundreds of millions of dollars to funds they have set aside to pay for the cost of litigation, including legal fees, fines and settlements. All four banks are facing mortgage-related investigations by federal prosecutors located in different parts of the country.

The increase in such funds impacted the fourth quarter results of the banks published this week, surprising many analysts.

#banks, #chase-co, #citigroup, #federal-prosecutors, #goldman-sachs, #jpmorgan, #justice-department, #litigation, #morgan-stanley, #reuters, #us