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Banking

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 ...

"Too Big To Fail": A Bailout Hoax

Ismael Hossein-zadeh | Posted 05.25.2011 | Politics
Ismael Hossein-zadeh

If "illiquidity is the core economic problem," as policy makers argue, why is then the government's injection of enormous amounts of liquidity failing to unfreeze the credit market?

Dialing for Derivatives

New York Times | Rick Moranis | Posted 05.25.2011 | Comedy

THANK you for calling BadBank, otherwise known as "Slumdog Billionaire." This call will not be monitored for quality control. One of our customer se...

Loosen Mortgage Lending Standards

Mike Garibaldi-Frick | Posted 05.25.2011 | Business
Mike Garibaldi-Frick

We can continue bailing out the banks and Wall Street or, we can take a more reasonable approach by helping out the middle class in a real tangible way.

Rush, Right Misguided on "Nationalization"

Andrew Belonsky | Posted 05.25.2011 | Politics
Andrew Belonsky

The right and Republicans have found an enemy far more terrifying than terrorism. It's insidious. It's dangerous. It's un-American. It's, it's nationalization! Oh, the horror!

Transform Banks into Credit Unions

Mike Garibaldi-Frick | Posted 05.25.2011 | Business
Mike Garibaldi-Frick

Banks have been ripping-off the middle class for years. In addition to user fees, the middle class pays banks large spreads on mortgages, credit cards and other types of debt.

Obama and Volcker: Economic Solutions, Good; Summers and Geithner: Financial Solutions, Not Good.

Saskia Sassen | Posted 05.25.2011 | Business
Saskia Sassen

The shadow banking system is not illegal or clandestine. It is in the open, but it has thrived on the opaqueness of the investment instruments, facilitated by their complexity.

From Big-name Fashion to Banking, A Green Headquarters is Now a Must

Mairi Beautyman | Posted 05.25.2011 | Green
Mairi Beautyman

Somewhere, there's a little black book that contains everything you need to know to create a successful business: In the 21st century, that book says green headquarters.

Obama Administration Begins WIth No Quick Fix For Banks

New York Times | EDMUND L. ANDREWS | Posted 05.25.2011 | Business

WASHINGTON --Even before they have settled into their new jobs, President Obama's economic team faces an acute crisis in the nation's banking system t...

Mortgage Mayhem Misses Main Street Lenders -- How Come?

Bill Donius | Posted 05.25.2011 | Business
Bill Donius

As a banker this news cycle has been depressing to witness. However, as depressing as it is for me, I can only wonder how dismaying it must be for the average, hard working taxpayer.

Bank Stocks Plunge: Bank Of America, Citi Take Dive

AP | STEVENSON JACOBS and DANIEL WAGNER | Posted 05.25.2011 | Business

NEW YORK — The banks may need a bigger bailout. The government is mulling another multibillion-dollar aid package for Bank of America Corp., ra...

The Last Story About a Failed Financial Institution You'll Ever Have to Read

Tom McNichol | Posted 05.25.2011 | Business
Tom McNichol

Why did federal regulators look the other way while The Firm made thousands of risky investments that eventually brought the company to its knees?

Madoff Just the Start of Post-Bubble Scandals

Diane Francis | Posted 05.25.2011 | Business
Diane Francis

The $50-billion fraud, allegedly perpetrated by New York's Bernie Madoff, is a predictable outcome following the collapse of a speculative bubble. Big bubbles attract bigger crooks.