Too Big to Fail, Except Online
JPMorgan Chase is America's second biggest bank, further fattened from gobbling up the carcasses of Bear Stearns and Washington Mutual, so it stands to reason that millions of Americans have been inconvenienced by the inexplicable meltdown of the company's website.
JPMorgan Chase is America’s second biggest bank, further fattened from gobbling up the carcasses of Bear Stearns and Washington Mutual, so it stands to reason that millions of Americans have been inconvenienced by the inexplicable meltdown of the company’s website.
Online banking has been kaput since Monday night, leaving bill payers stranded and forcing others to schlep to an actual building.
Rock Solid JournalismAP via Yahoo:
Chase’s online banking service was down for much of the day on Tuesday. The bank said it stemmed from a technical problem and that it was working to resolve it.
The service went down Monday night, potentially affecting its 16.5 million customers who bank online. Chase spokesman Thomas Kelly couldn’t specify the exact time service was disrupted.
In 2026, amid chaos and the nonstop flurry of headlines, Truthdig remains independent, fact-based and focused on exposing what power tries to hide.
Support Independent Journalism.
Environment
As the country moves to intensify mining and oil operations, environmental and Indigenous leaders’ bank accounts are being frozen or closed.
Economic Justice
Elizabeth Warren (D-Massachusetts) and J.D. Vance (R-Ohio) have joined forces in a rare bipartisan effort to make top executives pay for their mistakes.
Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
Because our banks aren't nationalized, its inability to work with Congress has resulted in another botched attempt at crisis management.
Its forced choice to bankroll hedge funds and other speculative ventures in repo market comes at a price to the middle class.
The Massachusetts senator and Democratic presidential contender wants to make it harder for big banks to prey on consumers.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.