Tag: Banks
John Carney Adding the Koch Brothers to the Banking Interests He Represents
The House is currently working on a bill that would re-authorize the Commodity Futures Trading Commission, usually not a controversial event, but this year, those who are looking to unravel Dodd-Frank have wrapped into this bill a number of items that specifically work to give banks more freedom to bankrupt us again. John Carney is right in the middle of this effort to continue to destabilize Dodd-Frank, and in the process, give the Koch Brothers an assist. Here’s the earlier Huffington Post front page announcing how Democrats — even our Democrat — are working to help the Koch Brothers:
Carper and Coons Give a Big Thumbs Up to TBTF
And a big thumbs up to letting banks put the money in deposit accounts in the same kind of risky bets that their investment accounts are in. I can’t say that I’m too surprised at this — banks do own the road here — but I’m still appalled at this position. It is a position that is ONLY good for banks — the rest of us with deposit accounts (and who pay taxes) are definitely the losers here. Because the point of a Glass-Steagall 2 is to separate the deposit accounts (the only part of the banking business explicitly guaranteed by the feds), from the investment business (which is not insured). The point of Glass-Steagall 2 is to dismantle one more part of the TBTF scheme — specifically the part where banks get to privatize their profits and get to socialize their losses. Until taxpayers get a say in the risks (and get a cut of the benefits) of the TBTF business, taxpayers should not backstop what the banks do here.
Biden Joins NY Investigation into Validity of Mortgage Paperwork
Attorney General Beau Biden is joining the investigation started by NY AG Eric Schneiderman in looking at mortgage Trustee Banks Bank of New York Mellon and Deutsche Bank.
Ungrateful
They got an extraordinary bailout funded and guaranteed by the taxpayers of the United States of America — they still are — and yet Jamie Dimon of Citibank Chase is whining about regulations from Dodd-Frank:
Time To Make A Call – 5 Reasons To Call Your AG Tomorrow
Tomorrow is the day where you and thousands of people will call our Attorneys General to demand a strong settlement against the big banks. Why is your phone call so important?
Banking Reform Legislation Background
So now that we’re done (for the moment) with the HCR, it is on to Banking Reform. This work has been ongoing in the House (who passed a bill already) and Chris Dodd’s Banking Committee. The Congress is in recess now, but it is worth taking some time to get up to speed on the coming issues and the bill itself.
Obama To Deal With “Too Big Too Fail”
This is a good move. I feel a lot of resentment against these banks that put our economy on the brink of collapse and then reward their executives for getting taxpayer money. The president, for the first time, will throw his weight behind an approach long championed by Paul A. Volcker, former chairman of the […]
What Sort Of Scum Would Profit Off The Haiti Disaster?
If you answered credit card companies you’d be correct. As a massive human tragedy unfolds in Haiti, relief organizations are soliciting credit-card donations through their hotlines and websites. About 97 percent of these donations will actually make it to the designated organizations — but the other 3 percent will be skimmed off by banks and […]
Socialists Stealing Paychecks!
Kenneth Feinberg of the Treasury Department has been watching the sycophant banks and trading companies very closely and he’s a little pissed that many of decided to give themselves bonuses, pay increases and other perks. Not anymore, reports The New York Times. . . . The seven companies that received the most assistance will have […]
Liberalgeek’s Revenge
I was listening to some news this morning and someone commented that the banking stocks are back up to almost pre-crash prices. I immediately remembered that I had been lambasted by Jason330 about my investment advice to him to buy Bank of America stock. that was on February 20th when BofA was trading at $3.79. […]
Chart of the Day
An excellent depiction of the current state of the Too Big to Fail showing their bonus payouts vs TARP holdings and current earnings or losses:
Carper Does It Again: Chooses Banks Over People
Sen. Bernie Sanders’ attempt to cap usurous interest rates on credit cards fell far short of passage today. The deliberative body that Sen. Richard Durbin referred to as ‘controlled by bankers’ easily beat back Sanders’ attempt to restore sanity to the credit card industry: The effort by Senator Bernie Sanders, the Vermont independent, drew only […]
Switzerland to Loosen Bank Secrecy Laws
That collective gasp emanating from the Vicmead Hunt Club can now be explained. According to the BBC, Switzerland has agreed to loosen its bank secrecy laws after facing pressure from Washington and other international capitals. The Swiss government confirmed that in line with OECD rules, it would now respond to overseas requests for information in […]
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