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Big Banks

After Rogue Trader, UBS Profit Plunges

AP | By JOHN HEILPRIN | Posted 12.25.2011 | Business

GENEVA -- Scandal-hit Swiss bank UBS AG reported Tuesday a 39 percent drop in third-quarter profit, slightly less than feared, due to a rogue trading ...

Volcker Rule So Complex Even Volcker Says He Doesn't Like It

The New York Times | James B. Stewart | Posted 12.22.2011 | Business

When Paul Volcker called for new rules in 2009 to curb risk-taking by banks, and thus avoid making taxpayers liable in the future for the kind of reck...

Big Banks Still Raking In Billions From Overdraft Fees

Posted 12.21.2011 | Business

Despite bank officials wailing about how financial reforms may hurt their bottom line, banks will rake in billions this year thanks to fees they're ch...

Why Big Banks Are Still Reporting Huge Profits (and What You Can Do)

Tim Chen | Posted 12.20.2011 | Business
Tim Chen

Revenue doesn't just materialize out of thin air: people provide it. So, if you don't like the way a bank does business, don't do business with them at all, and don't limit your message to your checking account.

Report: California AG Subpoenas Bank Of America

Posted 12.20.2011 | Business

The California state attorney general's office subpoenaed Bank of America Corp this week regarding the sale and marketing of troubled mortgage-bac...

Poll: One-Third Of Customers Would Switch Banks Over Debit Card Fees

The Huffington Post | Jillian Berman | Posted 12.19.2011 | Business

For many, debit card fees could be enough to push customers to go through the hassle of switching banks. About one-third of consumers say they'd l...

Morgan Stanley Nets Billions In Profit, After Loss Last Year

Posted 12.19.2011 | Business

Morgan Stanley swung to a $2.15 billion profit in the third quarter, helped by a large accounting gain, even as core revenue in trading, banking a...

Goldman Sachs Loses $428 Million In Its Second Quarterly Loss Ever

The Huffington Post | Bonnie Kavoussi | Posted 12.18.2011 | Business

Goldman Sachs posted its second quarterly loss as a public company on Tuesday, according to Bloomberg News, in the latest indication that Wall Street ...

Dan Froomkin

Who Are The Big Banks Banking On In 2012 | Dan Froomkin | Posted 12.17.2011 | Politics

The bankers love Mitt Romney, but their affair with President Barack Obama hasn't gone completely cold. A new analysis by the Center for Responsive...

Reuters Analysis: Boost In Big Bank Fees Could Push Consumers To Turn To Alternative Lenders

Posted 12.17.2011 | Business

Alternative finance firms, from credit unions to online and pawn lenders, are gaining traction as banks turn off the tap for easy cash and start c...

Protesters To Occupy London, Rome, Madrid Saturday

Posted 12.14.2011 | Business

LONDON, Oct 14(Reuters) - For an October revolution, dress warm. That's the word going out - politely - on the Web to rally street protests on ...

Occupy Wall St.-Capitalism Meets Distributive Justice

Doug Noll | Posted 12.13.2011 | Politics
Doug Noll

Wise political leaders who value their positions should be taking note and not ignoring the demands of distributive justice.

Three Big Banks On Review For Possible Downgrade

Posted 12.13.2011 | Business

Fitch Ratings placed Bank of America Corp , Morgan Stanley and Goldman Sachs Group Inc on review for possible downgrades on Thursday. The ratin...

Community Bank To Pay Customers To Open Accounts In Response To BofA's Fees

Posted 10.14.2011 | Business

While many banking giants are starting to charge fees for debit card use and other once-free services on checking accounts, one regional bank is doing...

Report: Goldman Tells Staffers To Stay Away From Protests

The Huffington Post | Jillian Berman | Posted 12.13.2011 | Business

Goldman Sachs employees better not think of grabbing lunch or taking in the scenery at Zucotti Park. "The firm” as it’s known among its workers ha...

JPMorgan Chase To Lay Off 1,000 Over 18 Months

Posted 10.13.2011 | Business

(Reuters) - JPMorgan Chase & Co's quarterly earnings fell 25 percent, excluding an accounting gain, as European financial turmoil reduced demand f...

Citigroup CEO: Occupy Wall Street's Sentiments Are 'Completely Understandable'

Posted 12.12.2011 | Business

Vikram Pandit, CEO of one of the most visible Wall Street institutions in Citigroup, said he thinks the sentiments of the Occupy Wall Street protester...

After Fee Announcements, Banks Offer Best Customers Cheap Cash

The Huffington Post | Jillian Berman | Posted 12.12.2011 | Business

As big banks ratchet up fees on once-free checking accounts, they’re looking to entice some of their most credit-worthy customers to take on more de...

Chicago to Wall Street: Pay Us Back!

Mary Bottari | Posted 12.12.2011 | Business
Mary Bottari

Chicagoans took to the streets this week to hold the big banks accountable for crashing the economy and to demand city, state and federal policies that work for working families.

After Debit Card Fee, BofA Aims To Revamp Image With Ads

Posted 12.12.2011 | Business

Bank of America Corp, (BAC.N) under fire for everything from improper foreclosures to hiking debit card fees, is fighting back with advertising. ...

A Leaderless Movement Full of Leaders

George Goehl | Posted 12.11.2011 | Chicago
George Goehl

Every movement worth its salt has had countless nameless heroes who made tough sacrifices and took incredible risks to make things right. That is exactly what thousands of Chicagoans did yesterday.

Whose Side Are You On: The Moral Clarity of Occupy Wall Street

Robert L. Borosage | Posted 12.07.2011 | Politics
Robert L. Borosage

No one is confused about the message. Wall Street got bailed out; Main Street was abandoned. The top 1% rigs the rules and pockets the rewards. And 99% get sent the bill for the party they weren't even invited to.

Lehmen Sued Goldman Unit For Canceling Sale

Posted 12.07.2011 | Business

A unit of Lehman Brothers Holdings Inc (LEHMQ.PK) sued an affiliate of Goldman Sachs Group Inc (GS.N), saying it used pretextual excuses to avoid ...

Occupy Utah?

Jake Rush | Posted 12.06.2011 | Home
Jake Rush

It's ironic that I have a laundry list of grievances with Chase, yet nonetheless bank with them. I need to cancel my accounts.

Demanding Accountability for Wall Street's "Greedapalooza"

Bennet Kelley | Posted 12.06.2011 | Politics
Bennet Kelley

September '11 is the moment the lobster said the water is getting too hot; it is the moment the people said the U.S. does not belong to those with the most money, but to working Americans whose voices have been ignored for too long.