Other countries have more extensive postal banking systems that still exist. Israel's postal bank offers checking and saving accounts as well as bill-paying services for utility bills. Why can't we do the same in this country?
Commodity market manipulation is fundamentally different and far more dangerous than the garden-variety manipulation of financial markets such as in single stock pump and dump schemes, or even the brazen manipulation of LIBOR. Nobody eats LIBOR.
Quite dramatically, being the biggest bull in the China shop, JPMorgan Chase made the striking announcement this past week that it would quit trading in physical commodities.
It's a real-life disaster movie, one that's left neighborhoods in ruins all across the country, killed thousands of people, and ruined millions of lives. You might call it a "Banknado."
Could things get any worse for JP Morgan? Jamie Dimon thinks so. The chief executive of the nation's largest bank is bracing for as much as a year of regulatory headaches.
It is one of the grossest miscarriages of Wall Street power and government obeisance resulting in billions of consumer dollars going into the pockets of banks, hedge funds and traders producing and adding nothing to the economic wellbeing of the nation, other than lining their own pockets.
Goldman Sachs is doing to aluminum exactly what Enron did to energy in the late 1990s and early 2000s: create phony bottlenecks to restrict supply to rip off consumers and skew markets in their favor for things society vitally needs.
What, pray tell, is a bank doing in the oil, gas, power and electricity business? Is that why we have a Federal Reserve -- to fund their gambling addiction? Should the bank fail because of its gambling excess, we would be left holding the bill and mopping up the mess of Too Big to Fail.
For over a year now, I have been saying in this space that the CFPB and its director, Richard Cordray, were going to grab the consumer collection industry by the seat of their pants, turn it upside down, and give it a good shaking. No one believed me.
The pope points out that in ideologies that are grounded in the drive for power and for possessions a rejection of both God and others and an attitude that considers ethics as a nuisance.
When I first got into the finance industry, there weren't a lot of women, especially in senior roles, whom I could look to as a mentor. Now that I'm in that position, I can use my insights to help aspiring women bankers achieve their goals.
Did the London Whale revelations result in protections for bank customers -- and their federal insurers -- from this kind of gambling?
ur business is demanding and competitive, and necessitates you come to work every day ready to work hard, make mistakes and better yourself. No one is more competitive than I am, but I never take myself too seriously.
As the regulations created by Dodd-Frank are chipped away, many are asking why the federal government is unable to enforce banking reforms even after the worst financial crisis since the Great Depression.
Recent NSA revelations bring up some grave concerns about civil liberties. But they also raise other profound questions -- about the privatization of our military, our inflated expectations for digital technology, and the increasingly cozy relationship between Big Corporations (including Wall Street) and Big Defense.
Profit will out, whether in Wall Street boardrooms or in the ashes of a south Asian sweatshop. All of which makes for ever wealthier plutocrats, consumers kept content with cheap goods, and if we do nothing about it, lousy citizens.