February 2012
3 posts
Let's stop blaming the victims of predatory...
squashed:
This is important.
The primary cause of the subprime collapse—which heralded in the Great Recession was bad loans not bad borrowers. At the peak of the subprime boom lenders structured loans in a way that virtually guaranteed that those loans would fail because it was profitable. Borrowers—particularly minority borrowers—were steered toward these designed-to-fail loans even when they...
Stevie NYC: Dear Fucker from Kansas that tried... →
stevienyc:
I WILL FUCKING DESTROY YOU.
I had my card declined today while trying to get lunch and was confused because for once in my life I actually have money in my account. I don’t carry cash with me because I’m a NYer and this is 2012, so I wasn’t able to get my lunch. Now I am hungry AND angry.
Did…
January 2012
3 posts
The siren call of austerity →
The United States government, which has a monopoly on its currency, is $15.2 trillion in debt, roughly the same as the entire output of the economy for a year.
That figure has been sung in a refrain about massive debt threatening to bring down the economy and cause inflation. Facts, however, show otherwise.
The country was much deeper in debt, relative to the size of the economy, in 1946 than...
“Some banks have gone in the seemingly wrong direction. For example, Bank of...”
– Banks on Facebook: Any Hope to Build Trust? | Pronet Advertising
December 2011
5 posts
“These material misstatements occurred during a time of acute investor interest...”
– Securities and Exchange Commission enforcement division director Robert Khuzami • Discussing the civil fraud charges that the SEC filed against six former top execs at Fannie Mae and Freddie Mac, charges that came about due to alleged misrepresentation of investors’ exposure to the subprime mortgage...
“The U.S. Treasury Department is investigating whether Bank of America, Wells...”
– Did banks illegally foreclose on active-duty troops? | McClatchy
November 2011
7 posts
Examining the big lie: How the facts of the... →
blissandzen:
Before you have to go face the Fox congregation again, go study up.
4 tags
Should We "End the Fed"? →
The U.S. Federal Reserve System [the Fed’s primary functions are carried out by a system of 12 regional Federal Reserve Banks] is a study in obfuscation. It appears in the organization chart of the U.S. government and presents itself to the world as an independent government body, but its highly complex governance structure assures its operations are in fact controlled by the big banks whose...
1 tag
An interfaith coalition of clergy in LA are... →
squashed:
Thoughts?
Your Next Credit Card Is Your Last →
infoneer-pulse:
You may remember when credit card machines weren’t so reliable, so stores sometimes used that little aluminum contraption with a roller over your card, and you had to sign the printed copy hard enough to ink onto the carbon paper. This is one of the reasons some cards still have those raised silver numbers on the front alongside your name and expiration date.
Even in spite of...
October 2011
11 posts
Joke
abloodymess:
An investment banker got hit by a car and killed the other day. When I first heard about it, I thought to myself, “That could have been me!” Then I remembered I can’t afford a car.
Watchshortformblog:
soupsoup:
enjen:
FOOTAGE. Woman arrested at Citibank 555 Laguardia (around West 3rd/Bleeker). She’s wearing a business suit, clearly not protesting, just there to close her account with the bank as part of a group action. NYPD surround her, scare the shit out of her, and arrest her. For closing her bank account.
THE WHOLE WORLD IS WATCHING.
If anyone has more information...
New Deal accomplishments: Do conservatives who... →
A good portion of Franklin Roosevelt’s immortality rests upon the New Deal’s physical works; but even more rests upon its transformation of the nation’s social and economic structures.
Here we must consider Americans’ relationship with what is, after all, their government. The New Dealers did not think about government in the limited terms of their predecessors, as an agency of national...
5 tags
11 tags
3 tags
$1 Of Lobbying Money Made Banks $500 in Bailout... →
govtoversight:
According to a new study, for every $1 banks spent lobbying they received about $500 bank in bailout funds through the Troubled Asset Relief Program. Banks who spent money on lobbying were 42% more likely to receive bailout funds.
We talked with one of the authors of the study about what this means for lobbying and the Super Committee and where they plan to go from here with...
1 tag
“Occupy Wall Street” and the History of Democratic... →
The difficulty in dealing with our founding battle for democratic economics arises in part because the movement was not against England but against the very American banking and trading elites who dominated the resistance to England. That complicates our founding myth, possibly unpleasantly. Also, it was a generally losing battle. With ratification of the Constitution, Hamiltonian finance...
3 tags
September 2011
5 posts
2 tags
2 tags
7 tags
August 2011
1 post
1 tag
bohemian slapfight: Anybody else weirded out that... →
littleorphanammo:
and that those ones and zeroes are digitally transferred to another place where they are also ones and zeroes? And people are like
YAY! Thank you for your phantom ones and zeroes to pay for your invisible waves that you receive with that device you hold!
YAY!
And nothing trades hands and…
July 2011
4 posts
How to Liberate America from Wall Street Rule →
eddyizm:
by David Korten
The dominant story of the current political debate is that the government is broke. We can’t afford to pay for public services, put people to work, or service the public debt. Yet as a nation, we are awash in money. A defective system of money, banking, and finance just puts it in the wrong places.(Image by Beverly & Pack)
Raising taxes on the rich and...
The US Treasury is running low on cash
shortformblog:
29 companies have more money than the United States Treasury
7 of those companies are based in America source
» The American companies include: Bank of America, JPMorgan Chase, Morgan Stanley, Goldman Sachs, and Freddie Mac. Two of the top three companies on the list are Chinese. On the upside, the Treasury has as much money as Google, so that’s kind of a nice consolation prize.
Kinda wish I was with Scotiabank instead.
pinstripe:
So I can just go downstairs and deal with banking. Don’t want to go all the way 49th and Fraser. D:
4 tags
Greek Reforms 'Like Putting a Band-Aid on a Mortal... →
June 2011
3 posts
2 tags
May 2011
4 posts
BankSimple | We have cards →
shaneguiter:
It’s humbling. We now have over 50,000 people who have requested an invitation to BankSimple. And today, we are one step closer to opening our doors. The first twenty BankSimple cards have been issued to our employees and we are testing them in New York, Portland, and San Francisco at some of our favorite places.
While we are thrilled to have our cards in-hand, we will be taking...
Federal Audits Find 4 Biggest Banks Guilty of...
liberalsarecool:
Bank of America: FRAUD
Citigroup: FRAUD
JPMorgan Chase: FRAUD
Wells Fargo: FRAUD
Ally Financial: FRAUD
It looks like they all violated the False Claims Act, which was a law passed during the Civil War to stop firms from swindling the Government.
April 2011
5 posts
Capitalism is failing the middle class →
soupsoup:
Globalization and the technology revolution are increasing productivity and prosperity. But those rewards are unevenly shared – they are going to the people at the top in the United States, and enriching emerging economies over all. But the American middle class is losing out.
