bankdecay
Reblogged from brooklynmutt
BBC Speechless As Trader Tells Truth: “The Collapse Is Coming…And Goldman Rules The World” (by fal2grace)
Well then.
Reblogged from blogthoven
U.S. to sue banks over mortgages: This oughta be fun. The list includes a over a dozen names, such as Bank of America, Goldman Sachs and JPMorgan Chase. “The suits will argue the banks, which assembled the mortgages and marketed them as securities to investors,” the article says, “failed to perform the due diligence required under securities law and missed evidence that borrowers’ incomes were inflated or falsified. When many borrowers were unable to pay their mortgages, the securities backed by the mortgages quickly lost value.”
Big freaking news.
bohemian slapfight: Anybody else weirded out that most 'money' is now just a series of phantom ones and zeroes in some random place
Reblogged from 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…
How to Liberate America from Wall Street Rule
Reblogged from ryking
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 implementing financial reforms are essential elements of the solution to our seemingly intractable fiscal and economic crisis. Yet proposals currently on the table fall far short of the need.
A newly released report of the New Economy Working Group, coordinated by the Institute for Policy Studies in Washington, DC, goes beyond the current debate to call for a deep restructuring of the institutions to which we as a society give the power to create and allocate money. How to Liberate America from Wall Street Rule spells out the steps required to rebuild a system of community-based and accountable institutions devoted to financing productive activities that create good jobs for Americans and generate real community wealth.
The US Treasury is running low on cash
Reblogged from 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.
Reblogged from pinstripe
So I can just go downstairs and deal with banking. Don’t want to go all the way 49th and Fraser. D:
Greek Reforms 'Like Putting a Band-Aid on a Mortal Wound'
Reblogged from ryking
(Source: ryking)
