Skip to content

Tag Archives: Banks

And Justice Wept

What happened to the American dream? The dream that anyone can make it if they work hard enough, and maybe have a little luck. That “you can make it if you try”. The dream that all men are created equal, and that nobody is above the law. As if it wasn’t bad enough that corporations [...]

Will we learn from Iceland?

Go read this interview with the President of Iceland, Ólafur Ragnar Grímsson. As you may recall, their economy cratered a few years ago, brought on by the collapse of their banks (sound familiar?). But instead of bailing out their financial institutions, they let them go broke. Then the country stood up to demands from world [...]

Foreclosure Review

If your house was foreclosed on in 2009 or 2010, you can ask for a free review and receive compensation if there were any errors made: The bottom line is there is a website you can visit to see your options. Try to ignore the fact that the website looks pretty cheesy — it is [...]

The Damage Done

Sanford Weill, the former CEO of Citigroup, has a change of heart: But is it too late?

The Manchurian Candidate

Lost in all the brouhaha about Mitt Romney’s gaffe-o-rama in England is the fact that one of the main things he did while in London is hold a fundraising dinner in a foreign city, where scandal-plagued international bankers paid $25,000 to $75,000 a plate to support his election campaign. That’s right. Romney is explicitly asking [...]

What Would Happen If We Threw Corrupt Bankers in Jail, Rather Than Throwing Billions of Dollars At Them?

(did I say billions? I meant trillions) Dubya threw money at the banksters. Obama threw even more money at the banksters. We were told we “had to do it” or our economy would collapse. And that all that money we threw at the banks would trickle down to us. Hah! We fell for that one [...]

One Bad Turn Deserves Another

© Tom Toles We know what the problem is, and we know how to fix it. Will we have the guts and political will? Or will the car wrecks continue?

A Fable For Our Time

It may not be a bedtime story, but it sure is a “good night” story.

How Big Banks Work

Once upon a time, the media thought of itself as a watchdog. Now they just work for the banks, like everyone else. Adam Savage of Mythbusters, with a myth he wasn’t allowed to bust:

Blaming the Volcker Rule Before it is Born

The Senate Banking committee started hearings on the recent problems at JP Morgan (which even Mornan’s chairman said were “sloppy” and “stupid” and would increase the pressure for additional regulation). But thanks to generous donations of campaign cash, the hearing got turned into a circus. Committee members weren’t about to actually, you know, investigate any [...]

Playing with Dynamite

Last week, the largest bank in the US admitted that it had made a very stupid and risky investment and had lost an incredible $2 billion. What makes this ironic is that JP Morgan has been one of the strongest voices arguing against regulations on banks. Indeed, Morgan had weathered the 2008 financial meltdown relatively [...]

The Wages of Greed

The financial world is in a tizzy about an editorial published yesterday in the NY Times written by an executive of Goldman Sachs (who simultaneously tendered his resignation). It doesn’t paint a very pretty picture of the company. Ironically, the reaction from both supporters and detractors of Goldman Sachs is pretty much the same — [...]

Run on the Banks?

© Jerry Holbert In the month since Bank of America announced it would start charging a monthly $5 for using debit cards, an amazing 650,000 Americans joined credit unions. That’s more (in one month) than the number of people who signed up for credit unions in all of 2010. According to the Credit Union National [...]

Zombie Jamboree

© Brian McFadden Who knew that This Song was really about the New York Banking Industry?

Foreclosing on Bank of America

A Florida couple bought a house in 2009 and paid for it with cash, so they were a bit surprised when Bank of America tried to foreclose on their house, even though they had no mortgage at all. Unfortunately, they had to hire a lawyer to straighten out the problem with Bank of America, and [...]