A wrap-up of stories and posts you might have missed or overlooked -- the ones below the fold.

Update: The Way in which the LIBOR benchmarks are calculated was simplified in this post, as pointed out by "BritishBankers" in the comments.

As stated on the BBA website:

Thomson Reuters is the designated calculation agent for BBA LIBOR. Data submitted by panel banks into the bbalibor process is received and processed by Thomson Reuters and the data is calculated using guidelines provided by the FX&MM Committee.****

It's been a bit surprising to witness the conspicuous lack of pitchforks and torches, what with all the hubbub about the Libor having been rigged. It's not as if it's headline news though. The media, if they mention it all, has given it a requisite plug between Tom and Katie's break up and the weather. If it makes it past the cutting room floor, it's being downplayed as inconsequential and unimportant. They're describing it as an inter-bank interest rate, rolling their eyes and sloughing it off as something that only affects those financial geniuses on Wall Street. True, the definition does lend itself to that assumption. From Wikipedia: The London Interbank Offered Rate is the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks. Move along, nothing to see here.

A wrap-up of stories and posts you might have missed or overlooked -- the ones below the fold.

For quite some time Wells Fargo managed to stay below the media’s radar and let the other guys like Bank of America and JPMorgan Chase, for example, bear the brunt of consumer and activist outrage. Lately, it seems, they’ve had to prove that they’re equally nasty and contemptible as the others. Foreclosing on churches and temples; closing bank accounts without apparent reason; promoting and profiting from private prisons; and ripping off towns, states and counties with mafia-style bid rigging that skimmed money slated for schools, hospitals, and nursing homes.

Wells Fargo can’t seem to get enough bad press these days. While working with the “any press is good press” theory may work for loud mouths like Rush Limbaugh and Glenn Beck, it’s not a strategy normally employed by most consumer based businesses.

A wrap-up of stories and posts you might have missed or overlooked -- the ones below the fold. For quite some time Wells Fargo managed to stay below the media's radar and let the other guys like Bank...

A wrap-up of stories and posts you might have missed or overlooked -- the ones below the fold.

Part 1: Wells Fargo Freezes Bank Account

Back in May I covered Martin Andelman's article on mandelmanmatters.com about a homeowner committing suicide as a result of Wells Fargo "mistakenly" foreclosing on his home. Andelman's breaking story went viral. It showed up on Facebook, Twitter and numerous media outlets - it's probably the most press Wells Fargo has received in a while.

A wrap-up of stories and posts you might have missed or overlooked -- the ones below the fold.

Much of the conversation around the activist, OWS, foreclosure defense community invariably gets to, "How do they sleep at night?" I'm pretty sure they sleep very well. Why wouldn't they?

The vast majority of our elected officials are well fed, insured, and will, unlike the rest of us, retire with dignity. They have done little to address foreclosure, unemployment, and the economic crisis, which have decimated families across the country. They prefer to concentrate on seemingly more important issues, such as Elizabeth Warren's ethnic background - an argument that has been refuted and that Massachusetts voters seemingly have no interest in. The argument still lingers however, despite Warren's proven track record of standing up for the working poor and disintegrating middle class.