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May 27, 2012
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Tag: Banks


Photo by jpellgen

What We Learned About Wall Street and Big Business From Facebook’s IPO

In the span of less than a week, Facebook’s much-maligned initial public offering has led to billions in losses, multiple investigations and even lawsuits. The mess created from all this chaos, however, has led to some lessons about how Wall Street and big businesses play the system for their own economic advantages.

Posted on May 24, 2012 READ MORE



Todd Ehlers (CC BY-ND 2.0)

Banks Rake In Highest Quarterly Profits Since 2007

The American banking industry enjoyed profits of $35.3 billion in the first quarter of 2012, the industry’s best performance since 2007, according to the Federal Deposit Insurance Corp. But it did so largely because banks put aside less money to cover bad loans, while keeping a lid on new lending.

Posted on May 24, 2012 READ MORE



AP/Jae C. Hong

Do the Bain Hustle

President Obama is to be applauded for questioning Mitt Romney’s legacy, although his motives seem to be as opportunistic as those of Romney’s opponents in the Republican primaries who took the same tack.

Posted on May 23, 2012 READ MORE


That’s Our Boy

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Posted on May 20, 2012 READ MORE


Spotlight on Banks

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Mr. Fish's Cartoon

Posted on May 19, 2012 READ MORE


JPMorgan Chase Self-Destructs

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Mr. Fish's Cartoon

Posted on May 15, 2012 READ MORE  |  1 COMMENT


Goldman Sachs Pandora

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Posted on Mar 20, 2012 READ MORE


‘NOVA’: Mind Over Money

Groundbreaking research in behavioral economics may pose the greatest academic threat ever to free-market theory, suggesting that emotions linked to brain chemistry—not rational self-interest—play a deciding role in how we spend, save and invest.

Posted on Mar 17, 2012 READ MORE  |  14 COMMENTS



Jon Wade (CC-BY)

Citigroup and 3 Other Banks Can’t Take the Stress

Despite hefty bailouts and infinitesimal interest rates, Citi, Ally Financial, MetLife and SunTrust were not able to pass the latest round of stress tests designed and measured by the Federal Reserve.

Posted on Mar 13, 2012 READ MORE  |  3 COMMENTS



Gamma Man (CC-BY)

Public-Sector Banks: From Black Sheep to Global Leaders

Conventional wisdom holds that government bureaucrats are bad businesspeople. But around the world, the many countries with strong public banking sectors generally have strong, stable economies.

Posted on Mar 8, 2012 READ MORE  |  24 COMMENTS


Wirewalking

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Mr. Fish's Cartoon

Posted on Feb 26, 2012 READ MORE


A ‘Queer History’ of Rick Santorum and Proposition 8

Last week on Truthdig Radio: Robert Scheer on the mortgage settlement, MLK in his own words, and “A Queer History of the United States” author Michael Bronski on Rick Santorum, Proposition 8, Ellen DeGeneres and gay marriage in Washington state. (This is a pledge show.)

Posted on Feb 12, 2012 READ MORE  |  2 COMMENTS



Photo illustration from an image by Colin Grey (CC-BY)

A ‘Queer History’ of Rick Santorum and Proposition 8

Last week on Truthdig Radio in association with KPFK: Robert Scheer on the mortgage settlement, MLK in his own words, and “A Queer History of the United States” author Michael Bronski on Rick Santorum, Proposition 8, Ellen DeGeneres and gay marriage in Washington state. (This is a pledge show.)

Posted on Feb 12, 2012 READ MORE



Elliott Brown (CC-BY)

Bailout, Tune Out

The BBC reports that while the United States and the U.K. have made a habit of buying too-big-to-fail banks and then looking the other way, the safest banks in the world aren’t just owned but operated by civil governments.

Posted on Jan 30, 2012 READ MORE  |  1 COMMENT



Photo illustration from an image by Colin Grey (CC-BY)

Chris Hedges on His Lawsuit Against the President

This week on Truthdig Radio in association with KPFK: The great Internet switch-off; the ACLU vs. jailhouse abuse; S&P’s downgrade mania; Robert Scheer on the election, and Chris Hedges discusses his lawsuit against the president.

Posted on Jan 20, 2012 READ MORE  |  1 COMMENT


Chris Hedges on His Lawsuit Against the President

This week on Truthdig Radio in association with KPFK: The great Internet switch-off; the ACLU vs. jailhouse abuse; S&P’s downgrade mania; Robert Scheer on the election, and Chris Hedges discusses his lawsuit against the president.

Posted on Jan 20, 2012 READ MORE  |  17 COMMENTS


From Barack

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Posted on Dec 26, 2011 READ MORE



AP / Dan Steinberg

You Can Arrest an Idea

Count the liberal mayor of Los Angeles as one of those apologists for suppressing truth in the name of civic order.

Posted on Dec 1, 2011 READ MORE  |  201 COMMENTS


Turkeys

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Posted on Nov 27, 2011 READ MORE



Devin Smith (CC-BY)

Pulling Accounts From the Unaccountable

Occupy protesters decided to march on local branches of the too-big-to-fail banks, so participants could close their accounts, and others could hold “teach-ins” to discuss the problems created by these unaccountable institutions.

Posted on Nov 22, 2011 READ MORE  |  19 COMMENTS



WELS.net (CC-BY)

To Protest Foreclosures, San Jose Priest Divests $3 Million From Bank of America

Father Eduardo Samaniego, the Jesuit pastor of Most Holy Trinity Catholic Church in San Jose, Calif., protested foreclosures by Bank of America against those in his flock and beyond by moving $3 million of his parish’s funds to a local credit union. (more)

Posted on Nov 17, 2011 READ MORE  |  5 COMMENTS



DonkeyHotey (CC-BY)

Where Does Occupy Go From Here?

The program to oust the Occupy Wall Street movement from its sites of occupation is now under way. The Occupied, who own the police, have grown tired of the Occupation.

Posted on Nov 16, 2011 READ MORE  |  51 COMMENTS


What Cellphone Taxes Say About Republican Hypocrisy

This week on Truthdig Radio in association with KPFK: David Lazarus tracks the cash from phone and bank fees; good news for unions; moving money out of big banks; anarchy in the USA, and “digital parasites.”

Posted on Nov 11, 2011 READ MORE  |  3 COMMENTS



Photo illustration from an image by Colin Grey (CC-BY)

What Cellphone Taxes Say About Republican Hypocrisy

This week on Truthdig Radio in association with KPFK: David Lazarus tracks the cash from phone and bank fees; good news for unions; moving money out of big banks; anarchy in the USA, and “digital parasites.”

Posted on Nov 11, 2011 READ MORE



Richard Newton (CC-BY)

S&P Accidentally Downgrades France

The same ratings firm that held the United States hostage to its debt demands and gave the thumbs up to toxic mortgage assets is again in the news for bungling things. Standard & Poor’s accidentally announced a downgrade Thursday of France’s AAA credit rating.

Posted on Nov 10, 2011 READ MORE  |  10 COMMENTS



AP / Damian Dovarganes

California Refuses to Accept Obama’s Banking Sellout

There is no three-strikes law for crooked bankers, who usually get off with a fine and a promise not to do it again, and again and again.

Posted on Nov 10, 2011 READ MORE  |  136 COMMENTS



Sasha Y. Kimel (CC-BY)

Time to Move Your Money

Saturday is the day 80,000 people have pledged to punish “too big to fail” banks by moving their money to credit unions and local community institutions. How does it work? Will banks feel the hurt? How can it be done quickly and conveniently? Josh Harkinson at Mother Jones answers these questions and more.

Posted on Nov 5, 2011 READ MORE  |  3 COMMENTS



zoer (CC-BY)

Cover-Up at the Cathedral

Critics of the financial industry and some clergy members are upset over suppression by St. Paul’s Cathedral of a report that would appear to reveal a shared denial of responsibility for the financial crisis within the London banking community. (more)

Posted on Oct 30, 2011 READ MORE  |  1 COMMENT


Swipe Fees

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Mr. Fish's Cartoon

Posted on Oct 20, 2011 READ MORE


Preoccupied

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Posted on Oct 11, 2011 READ MORE  |  4 COMMENTS


Occupy Wall Street

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Mr. Fish's Cartoon

Posted on Oct 1, 2011 READ MORE


Wall Street Protests

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Mr. Fish's Cartoon

Posted on Sep 29, 2011 READ MORE



Flickr / epSos.de

Demanding More of the Wealthy

If you’re tuned into your social surroundings, you’re likely to hear people arguing over whether raising taxes on the rich would be a good thing or a bad thing for Americans. With election season on its way, the noise and volume are bound to rise. (more)

Posted on Sep 26, 2011 READ MORE  |  2 COMMENTS



AP / Charles Dharapak

One Betrayal Too Many

With a record 46.2 million Americans living in poverty, it’s getting too late to give President Obama a pass on the economy.

Posted on Sep 14, 2011 READ MORE  |  161 COMMENTS



Flickr / I-5 Design & Manufacture

BofA Confirms Plan to Lay Off 30,000 Employees

Bank of America has confirmed a plan to eliminate 30,000 jobs “over the next few years,” 10,000 fewer than what The Wall Street Journal reported Friday. The layoffs will amount to about 10 percent of the bank’s workforce. Update (more)

Posted on Sep 11, 2011 READ MORE  |  2 COMMENTS



Flickr / Chris Devers

Quicksand of Debt for U.S. College Students

According to the Project on Student Debt, the average arrears for graduating U.S. students is $24,000, but that figure is low for many who are entering a state of sustained debt peonage during the wonder years of young adulthood. (more)

Posted on Sep 7, 2011 READ MORE  |  9 COMMENTS



Flickr / woodleywonderworks (CC-BY)

Government Lawsuits Against Big Banks Are a Go

Federal regulators filed lawsuits against 17 financial institutions Friday afternoon for allegedly misrepresenting the poor quality of mortgage securities they sold to Fannie Mae and Freddie Mac at the height of the housing bubble. (more)

Posted on Sep 3, 2011 READ MORE  |  7 COMMENTS



White House / Pete Souza

Amnesty for the Indefensible

The administration has rushed to the aid of the banks once again and is attempting to intimidate the few state attorneys general who have the gumption to protect the public interest they are sworn to serve.

Posted on Aug 23, 2011 READ MORE  |  82 COMMENTS



Flickr / stevendamron

A Look at the ‘Bush-Obama’ Presidency

Essayist, Yale English professor and TomDispatch contributor David Bromwich takes a careful accounting of the “sacked” and “saved” members of the Obama administration in an attempt to reveal the similarities between his presidency and George W. Bush’s. (more)

Posted on Aug 22, 2011 READ MORE  |  7 COMMENTS



how will i ever (CC-BY-SA)

Naomi Klein on Riots and Resistance

Britain’s riots were not political, we are assured, and looting is simply un-British, but “Shock Doctrine” author Naomi Klein takes a different view: From Iraq to Argentina, when corrupt elites pass the bill to the struggling masses, civil unrest is to be expected.

Posted on Aug 16, 2011 READ MORE  |  14 COMMENTS


Barbarians at the Gate

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Mr. Fish's Cartoon

Posted on Aug 14, 2011 READ MORE



AP / Carolyn Kaster

Debt Madness Was Always About Killing Social Security

Republican hypocrites are out to settle ideological scores that have nothing to do with the debt they themselves ran up.

Posted on Jul 27, 2011 READ MORE  |  86 COMMENTS



AP / Pablo Martinez Monsivais

Sorry Elizabeth, Wall Street Said No

Obama’s gutless decision to abandon Elizabeth Warren comes after the president populated his administration with the very people who created the financial meltdown.

Posted on Jul 19, 2011 READ MORE  |  233 COMMENTS



Robert Scoble (CC-BY)

Elizabeth Warren Out, Another Bank Critic to Lead Consumer Agency

Fearing a tough confirmation fight, the Obama administration has decided that Elizabeth Warren will not head the new Consumer Financial Protection Bureau. Instead, the White House will nominate Richard Cordray, who was already selected to be the agency’s top enforcer and who, in his previous gig as Ohio’s attorney general, had put himself on the map by suing big banks. (more)

Posted on Jul 17, 2011 READ MORE  |  8 COMMENTS


WikiLeaks Has a New Commercial

The biggest threat to WikiLeaks isn’t the house arrest of Julian Assange or the militaries of frustrated world governments—it’s the financial blockade by PayPal, Bank of America, Visa and other institutions that has cut off $15 million in donations (by WikiLeaks’ estimate).

Posted on Jun 28, 2011 READ MORE  |  4 COMMENTS



AP / Frank Franklin II

Truthdigger of the Week: Eric Schneiderman

This week we celebrate New York’s attorney general for refusing to let Wall Street off the hook. (More, including honorable mentions, after the jump).

Posted on May 20, 2011 READ MORE  |  3 COMMENTS



Oisin Prendiville (CC-BY-SA)

Throw Out the Money Changers

These are remarks Chris Hedges made in Union Square in New York City last Friday during a protest outside a branch office of the Bank of America.

Posted on Apr 18, 2011 READ MORE  |  150 COMMENTS


State Crises Mean New Language of Deceit

For most of history, we had undebatable definitions of words such as bailout and bankruptcy. Sadly, that’s not the case during a deficit crisis that is seeing language redefined in ideological terms.

Posted on Mar 3, 2011 READ MORE  |  26 COMMENTS


Two Public Pay Standards, One Statement of Values

Decisions by bought-off elected officials highlight a larger corporatist ideology—one that says attracting the best and brightest to the “greed is good” financial industry is more important than attracting that work force to common-good endeavors.

Posted on Feb 25, 2011 READ MORE  |  52 COMMENTS



How the Democrats Killed Roosevelt’s Dream of the Affordable Home

The following excerpt from Robert Scheer’s book “The Great American Stickup” details the perversion of Fannie Mae and Freddie Mac.

Posted on Feb 18, 2011 READ MORE  |  22 COMMENTS


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A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
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