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Banking

Special Prosecutor of Iceland Bank Crash: "The Idea Most People Have of Banking Has No Basis In Reality"

Iris Erlingsdottir | Posted 05.25.2011 | World
Iris Erlingsdottir

"Perhaps things weren't illegal, but when do you cross the line from a framework of standard marketing practices and into bribery?"

Stuff the Bankers, Starve the Kids

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

Bail out the banks, but not the 500,000 poor families with children served by the CalWorks program, which will be dismantled, or the 928,000 children covered by the Healthy Families program, slated for oblivion.

Community Banks Lumped In With Big Players, Forced To Pay High Premiums

washingtonpost.com | Steven Pearlstein | Posted 05.25.2011 | Business

We're hearing a lot these days from well-run regional and community banks that feel that they are being punished for the mistakes of the Citigroups an...

Implications of the Bank Stress Tests

Douglas J. Elliott | Posted 05.25.2011 | Business
Douglas J. Elliott

The financial "stress tests" on the big banks gave us good news: they "only" need $75 billion of new capital. That's a lot of money, but much less than many of us feared.

Toward Nonprofit Financial Services

Shawn Bayern | Posted 05.25.2011 | Business
Shawn Bayern

Bankers are not popular right now. I have friends who have taken to calling them "banksters," a term that apparently dates back to the Great Depression and now gets 300,000 Google hits.

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

There was much to celebrate this week, as we marked the remarkable achievements of Obama's first 100 days. A high point: Michelle Obama sending a resounding message about making service a regular part of our lives by volunteering at a food bank, even though we are months away from Thanksgiving. On the other hand, there was the depressing, banking-industry-led Senate defeat of a measure offering relief to America's struggling homeowners. Coming up: Thursday's announcement of the results of the bank stress tests. Early indications are that at least some of the banks are going to need another infusion of capital. With apologies to Justice Scalia, "Fleeting expletive" no! It's time for Americans to draw the line in the sand and say that if bankers are not going to side with us when we need help, we're not going to side with them when they do.

Trust Is the Answer: Yunus and the Future of Everything

Vivian Norris | Posted 05.25.2011 | Business
Vivian Norris

If you give up on trusting your fellow human beings, then the Bastards win. They make you mistrustful like they are.

An Open Letter to Magic Johnson

Don McNay | Posted 05.25.2011 | Business
Don McNay

Who is the real Magic Johnson? The friendly guy who raises money for charities or the guy who encourages people to get high interest loans they don't need?

Third Screen: Can Banks End Poverty?

Vickie Karp | Posted 05.25.2011 | Business
Vickie Karp

Grameen, whose slogan is "banking for the unbanked," now operates in 38 countries providing collateral-free loans to over 7.5 million borrowers.

Bad Banker

Rabbi Alan Lurie | Posted 11.17.2011 | Healthy Living
Rabbi Alan Lurie

True abundance, though, is a two-way flow of giving and receiving -- not only material wealth, but attention, concern, and love.

Magic Johnson and the Tax Refund Rip-off

Don McNay | Posted 05.25.2011 | Business
Don McNay

Because of Johnson, the tax refund business might stick around, luring in more millions of Americans.

When the Next Banking Scandal Hits...

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

The way Tim Geithner has structured the banking plan, the Obama administration will, sooner or later, almost certainly be facing another AIG bonuses-type of outrage.

G-20 Thugs Attack Financial Injustice

Diane Francis | Posted 05.25.2011 | Business
Diane Francis

I'm not condoning street violence but it will be helpful if political leaders understand that economic ruination by others is also a violent act.

Make Banking Boring, Again

Paul Abrams | Posted 05.25.2011 | Business
Paul Abrams

Banking should be boring for the very same reason that driving on I-5 or down Main Street should be boring.

A Tax Lawyer Explains Tax Havens

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business
Hale

The banking secrecy issue is incredibly important to the G-20 nations. What they need is a way to obtain compliance with their domestic anti-avoidance laws -- laws meant to prevent tax evasion.

Banking System Overhaul Coming: WSJ

Huffington Post via WSJ | Julie Satow | Posted 05.25.2011 | Business

As outrage over bonuses paid to top AIG executives and other executive pay scandals mount, the Obama administration has created a plan to revamp finan...

Where Are the Credit Unions?

Andy Sernovitz | Posted 05.25.2011 | Business
Andy Sernovitz

If credit unions were doing a decent job of marketing, they could grab a massive percentage of the market from banks. But I haven't been asked to switch. I haven't seen an ad.

Banking Is In Critical Condition

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business
Hale

It's been 17 years since we've seen the banking industry this sick. Return on assets hasn't been this low in 20 years. What caused the last set of problems? The savings and loan crisis.

Citibank Hates Old People

Mena Trott | Posted 05.25.2011 | Business
Mena Trott

During the election there was a lot of talk of not using a hatchet when a scalpel is needed. It seems as if Citibank just brought out their hacksaw and blunt hatchet.

Citigroup Nationalization: Market Reacts To Talks Of 40% Gov Stake

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Wall Street has turned the clock back to 1997. Investors unable to extinguish their worries about a recession that has no end in sigh...

Credit Suisse Posts Record $7.1 Billion Loss

Reuters | Lisa Jucca and Emma Thomasson | Posted 05.25.2011 | Business

ZURICH (Reuters) - Credit Suisse Group AG (CSGN.VX) posted its biggest-ever annual loss after a poor fourth quarter hit by trading losses and restruct...

Sam Stein

Obama On Banking Crisis: We Can't "Prolong The Agony"

HuffingtonPost.com | Sam Stein | Posted 05.25.2011 | Politics

Barack Obama is taking a rip-off-the-bandaid approach when it comes to dealing with the banking crisis, telling ABC Nightline that the process of rest...

Banking System to Rely on Nation's Birthday Checks

John Marshall | Posted 05.25.2011 | Comedy
John Marshall

Grandmas are best known as the world's leading purchasers of hard candies. But financial experts know that grandmas are also the world's leading distributor of $25 birthday funds.

Companies, Like Countries, Need to Know What They Stand For

Margaret Heffernan | Posted 05.25.2011 | Business
Margaret Heffernan

Companies that think about what their business means to employees, customers and citizens, attract a different quality of person with that level of commitment.

UBS Shells Out Big Bonus Bucks for Brokers

Bloomberg | Elena Logutenkova | Posted 05.25.2011 | Business

UBS hired a team of five in Dallas from Goldman Sachs Group Inc. with $4 billion under management, and a group of the same number from Morgan Stanley ...