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Banking

Designing a Blueprint for Accountability

Eliot Spitzer | Posted 05.27.2012 | Politics
Eliot Spitzer

Simply passing a bill designed by the Chamber of Commerce and the banks is a cheap move to appease donors and those whose economic theories have been proven wrong at every turn over the past several decades. But that is, unfortunately, what we have come to expect.

Why Blodget Gets a Pass

Joshua M. Brown | Posted 05.26.2012 | Business
Joshua M. Brown

I take the position in my book that Henry Blodget was essentially scapegoated and made an example of. Why Henry, you ask? Here are the primary reasons:

Too Smart To Fail

Thomas Frank | Posted 05.26.2012 | Books
Thomas Frank

In the twelve hapless years of the present millennium, we have looked on as three great bubbles of consensus vanity have inflated and burst, each with consequences more dire than the last. But what rankles now is our failure to come to terms with how we were played.

Apple's Move Into Banking -- Welcome to iWallet

Simon Dixon | Posted 05.21.2012 | Business
Simon Dixon

We live in exciting times! I can't wait for Apple to enter the jungle.

The Housing Bottom Is In, Says Bank Of America

The Huffington Post | Mark Gongloff | Posted 03.22.2012 | Business

Bank of America probably hopes its economists have this one right. In a new research report on Thursday, Bank of America-Merrill Lynch mortgage str...

On Greg Smith, Goldman Sachs, and a Perp Walk Down Memory Lane

Omer Rosen | Posted 05.22.2012 | Business
Omer Rosen

A year ago I wrote about my shady derivatives dealings during my time at Citigroup. I spent some time in a counterpart of sorts to the Goldman Sachs group Greg Smith recently resigned from, equity derivatives.

Financial Statesmanship for a New Economy

John Fullerton | Posted 05.21.2012 | Business
John Fullerton

I wonder what happened to the belief that banking is a profession, as J.P. Morgan believed, rather than "just a business" as it is today.

Would You Stash Your Cash In An Apple iBank?

The Huffington Post | Catherine New | Posted 03.21.2012 | Money

Personal banking with Apple? It could happen. With the growing trend toward mobile banking, Apple is already serving as a digital "bank branch" fo...

Bernanke: These Are Not The Zombie Banks You're Looking For

The Huffington Post | Mark Gongloff | Posted 03.21.2012 | Business

When it comes to making the markets feel confident in banks, Ben Bernanke is a Jedi master. On Wednesday the Fed chairman, who shares facial-hair c...

The Incredible Shrinking Bank

The Huffington Post | D.M. Levine | Posted 03.21.2012 | Business

Bank of America just keeps on shrinking. The bank, once the biggest in the U.S. by assets and now second to JPMorgan Chase, will sell its Irish cre...

Trade Deals: Backdoor Financial Deregulation

Lori Wallach | Posted 05.20.2012 | Business
Lori Wallach

Wall Street has a new power tool to demolish financial stability policies, and it comes from a source many would not expect.

Banks Could Learn a Thing or Two

James Perry | Posted 05.20.2012 | Business
James Perry

The principled belief that a stronger local, state and national community results in a stronger more consistent bottom line for lending institutions is not just feel good chatter. In fact, their existence relies upon this business principle.

Why Credit Unions Matter

Gary Oakland | Posted 05.20.2012 | Business
Gary Oakland

Credit unions serve more than 90 million Americans and play a key role in supporting our economic recovery. Unfortunately, current law imposes requirements which unfairly penalize healthy credit unions for growing to meet the needs of their members.

Breaking the Code of Omertà at Goldman Sachs

Joseph A. Palermo | Posted 05.19.2012 | Business
Joseph A. Palermo

Greg Smith violated the ancient code of all mafia organizations: he spilled the game to the public. His former colleagues at Goldman Sachs no doubt now see him as a "rat."

What Do Customers Really Think About Goldman Sachs?

Janet Tavakoli | Posted 05.19.2012 | Business
Janet Tavakoli

Goldman Sachs writes the "vast majority of people at Goldman" -- people paid by them -- have a different view than Greg Smith. To 'support" an argument with this type of biased data is the statistical equivalent of cheating at cards.

The $7 Trillion Question That Haunts Banks

L. Randall Wray | Posted 05.16.2012 | Business
L. Randall Wray

The banksters have no legal claim on the homes they are foreclosing. Foreclosure is theft. Any bank that used MERS has no legal claim on property -- there are 65 million such mortgages to which no bank has a legal claim to foreclose.

Gullible Muppets and Goldman Sachs: What Does It Say to the 99%

Philip Jennings | Posted 05.16.2012 | Business
Philip Jennings

Congratulations Greg Smith for waking up. However, we already knew about the toxic state of the financial culture. We are living through its consequences. It's time for the rest of the bankers to be forced to look in the mirror and for us to take action against them.

Giving Up Your Bank for Lent

Michael Winship | Posted 05.15.2012 | Money
Michael Winship

On Ash Wednesday, churches in San Francisco announced they were removing $10 million from Wells Fargo and called on the bank "to put an immediate freeze on its foreclosures and repent for their misconduct." The effort is part of several national campaigns to get consumers and community groups to remove their money from the big banks and transfer accounts to credit unions and smaller financial institutions. We're told that the banks, desperate when thrown a lifeline by taxpayers in 2008, are now stronger and better able to weather a crisis than they were. And yet, they continue to scream in protest and lobby on Capitol Hill against the ignominy of reform. Simple greed -- hey banks, how about giving that up for Lent?

Secret Deals, Foreclosure Settlements, Stress Tests and Vampire Squid Whistleblowers

L. Randall Wray | Posted 05.15.2012 | Business
L. Randall Wray

A new report documents widespread abusive practices at the biggest banks. It shows the potentially illegal activities were not only known by top management, but also encouraged by management.

At Last, Some Decency on Wall Street

Robert Scheer | Posted 05.14.2012 | Politics
Robert Scheer

Clearly people comfortable in the Washington-Wall Street axis have no sense of shame. They know all too well what Goldman and the other financial swindlers have been up to, causing so much misery for tens of millions throughout the world.

Goldman Sachs Director Resigns in Bombshell New York Times Op-Ed

Sheldon Filger | Posted 05.14.2012 | Business
Sheldon Filger

People usually resign from a position through a private letter to the boss. Greg Smith, a Goldman Sachs executive director, chose a different method: a powerful opinion piece on the editorial pages of the New York Times entitled, "Why I Am Leaving Goldman Sachs."

So Long, Toasters: Cool Bank Gimmicks

The Huffington Post | Khadeeja Safdar | Posted 03.14.2012 | Money

Gone are the days of getting a free toaster in exchange for setting up a bank account. Now, banks feature posh lounges with hip furniture and offer a ...

LinkedIn -- The Gateway Drug to Social Media for Financial Services and Others

April Rudin | Posted 05.12.2012 | Business
April Rudin

There are many reports which support the idea that today's potential client will be intolerant of their wealth manager's reluctance to engage on social media platforms.

Newt's Latest Declaration of Independence From Reality

William K. Black | Posted 05.12.2012 | Politics
William K. Black

Gingrich's historical argument rests on a non-existent provision in the Declaration of Independence that he claims was designed to protect non-existent banks from regulation.

Using Microfinance to Bring Clean Water to India's Poor

Tom Murphy | Posted 06.11.2013 | Impact
Tom Murphy

Mumbai -- A unique public-private partnership involving private sector giants like Unilever and Heinz is improving the health of Indian children. Two ...