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Banking Crisis

Absolute Corruption Is the Rule in America

David A. Love | Posted 11.09.2009 | Politics

Read More: Treasury Department, Capitalism, Wall Street, Blue Dogs, Health Care Reform, Max Baucus, Bernard Madoff, Joe Lieberman, Health Care, Healthcare, Blue Dog Democrats, Corruption, Citibank, Bank Bailout, Stock Market, Corporations, Banking Crisis, Sec, Corporate Greed, Citigroup, Regulation, Madoff Ponzi Scheme, Ponzi Scheme, Deregulation, New York, Criminal Justice System, Glass-Steagall, Politics News
David A. Love

Often, people will look at a high-profile example of corruption, and conclude that the egregious act is an exception to the rule. In reality, it might be the tip of the iceberg.

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A Systemic Risk Regulator and a Compensation Tsar? Larry Summers and Ben Bernanke Must Be Kidding

David Paul | Posted 11.03.2009 | Business

Read More: Tarp, Fdic, Wells Fargo, Bank of America, Larry Summers, Brooksley Born, Goldman Sachs, JP Morgan, Morgan Stanley, Bailout, Hedge Funds, CFTC Derivatives, Banking Crisis, Financial Crisis, Ben Bernanke, Timothy Geithner, Wall Street Bonuses, Citigroup, Glass-Steagall, Paul Volcker, Business News
David Paul

With the announcement of record Wall Street bonus pools and rising credit card fees, it is time to sit back and see where we go from here.

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Job Losses? Not in North Dakota. A Stimulus Plan That Really Works

Ellen Brown | Posted 11.02.2009 | Business

Read More: State Deficits, Banking Crisis, Fractional-Reserve-System, Job Loss, Unemployment, Farid Khavari, Bank of North Dakota, President Obama, North Dakota, Florida, Montana, State-Owned Banks, Job Creation, California, Business News
Ellen Brown

Why is North Dakota doing so well, when other states are suffering the ravages of a deepening credit crisis? Its secret may be that it has its own credit machine.

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While Larry Summers Dreams, You Can Act

Robert Lenzner | Posted 10.31.2009 | Business

Read More: Larry Summers, Wall Street, Stock Market, Equities, Banking Crisis, Financial Crisis, Executive Pay, Business News
Robert Lenzner

What can an investor do? For advice, I sat down with Marc Harris of RBC, one of the few large banks that maneuvered a clear course through the economic turmoil.

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Bust Up the Banks Before it's Too Late

Diane Francis | Posted 10.27.2009 | Business

Read More: Goldman Sachs, Goldman Sachs Bonuses, Banks, Banking Crisis, Bonuses, Bank Bailout, Bank Bonuses, Wall Street Bonuses, Glass-Steagall, Banking-Crisis, Business News
Diane Francis

The world's concentrated financial sector has been grabbing more than its fair share of wealth. We desperately needs Glass-Steagall on steroids.

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AIG's Misguided TARP-Funded Bonuses

Rep. Edolphus Towns | Posted 10.28.2009 | Business

Read More: Tarp, Aig, Banking Crisis, Financial Crisis, Bailout, Wall Street, Wall Street Bonuses, Aig Bonuses, Business News
Rep. Edolphus Towns

The American people have been eager to understand how the government failed to prevent bonus payments from going out the door -- payments that were paid out with their taxpayer dollars.

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FDIC New Frontier Report: Bank Was Warned Of Risky Practices As Early As 2004

The Fort Collins Coloradoan | Trevor Hughes | Posted 10.27.2009 | Denver

Read More: Fdic, Insolvency, Daiy Farmers, New Frontier Bank, Agricultural Bank, Banking Crisis, Colorado Bank Failure, Economy, Denver News

Federal bank regulators repeatedly warned the now-collapsed New Frontier Bank it was taking financial risks it could not cover and lacked the systems ...

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A New Crossover Hit: "Break Up the Big Banks"

George Goehl | Posted 10.24.2009 | Business

Read More: Elizabeth Warren, Congress, Campaign Finance Reform, Wall Street, Showdown in Chicago, Michael Moore, Financial Reform, Too Big to Fail, Mortgage Crisis, Obama Administration, Financial Crisis, Alan Greenspan, Sheila Bair, Bankers, Banking Regulation, Banks, Banking Crisis, Business News
George Goehl

We've reached an incredible moment when Alan Greenspan, Michael Moore, FDIC head Sheila Bair and Elizabeth Warren are all singing the same tune: calling for breaking up the big banks.

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House Panel Says States Can Protect Consumers

AP | ANNE FLAHERTY | Posted 10.22.2009 | Politics

Read More: House of Representatives, Melvin Watt, Consumer Financial Protection Agency, Financial Services Committee, Barney Frank, Banking Crisis, Dennis-Moore, Melissa Bean, Banking Industry, Financial Regulation, House Financial Services Committee, Politics News

WASHINGTON — The House Financial Services Committee agreed Wednesday to ensure states can impose their own tough consumer protection laws agains...

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New Frontier Bank Auction Yields Fraction Of Former Value

AP | Posted 10.20.2009 | Denver

Read More: Mortgage Crisis, Agricultural Loans, Banking Crisis, Bank Auction, Greeley Colorado, New Frontier Bank, Colorado Farm Bureau, Cattle Consultants LLC, Denver News

DENVER — An auction last month of loans from the failed New Frontier Bank generated $157 million on a portfolio once valued at more than $500 mi...

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Will Obama Save America From Capitalism?

David A. Love | Posted 10.15.2009 | Politics

Read More: Wall Street Bailout, Capitalism: A Love Story, Wall Street Crisis, Capitalism, Michael Moore, Economic Stimulus Package, Economic Crisis, Business News, Financial Crisis, Timothy Geithner, Tarp, Elizabeth Warren, Joseph Stiglitz, Citibank, Paul Krugman, Simon Johnson, Plutonomy, Bill Moyers, Citigroup, Income Inequality, Larry Summers, Wealth, Consumer Protection, Banking Crisis, Banks, Bank Bailout, Foreclosure, Health Care, Mortgage Crisis, Politics News
David A. Love

American-style capitalism is the system that gives you pilots buying groceries with food stamps and sheriffs throwing families out of their homes. President Obama, it's time for a "new" New Deal.

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Wall Street Treasury Complex is the Problem

Diane Francis | Posted 10.15.2009 | Business

Read More: U.S. Economy, FInancial Markets, Trade, Economy, Stock Market, Banking Crisis, Banks, Free Trade, Protectionism, Capitalism, Barack Obama, Business News
Diane Francis

An examination of the causes of the financial meltdown and proposals for reform to prevent new catastrophic bubbles from forming and bursting.

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The Recovery: Can You Feel It Yet?

Dean Baker | Posted 10.05.2009 | Business

Read More: Banking Crisis, Bank Bailout, Stimulus, Economic Recession, Economic Recovery, Alan Greenspan, Business News
Dean Baker

We all know that the economy is recovering. The stock market is up by more than 50 percent from its March lows and banks are reporting strong profits. Everything is bright and sunny again, unless you have to work for a living.

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Beyond the Tobin Tax: End the Free Ride for the Financial Sector and Impose Fees to Revive the Economy

Kyle G. Brown | Posted 09.28.2009 | Business

Read More: G20 Summit, G20 Meeting, Trade, Money, Finance, Tobin Tax, Banking Crisis, Banks, Financial Crisis, Global Financial Crisis, g20, Pittsburgh, Business News
Kyle G. Brown

The most reliable way to expand tax revenues would be to impose a modest fee on every stock, every bond -- in short, every financial transaction.

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FDIC Stood Idly As Greeley's New Frontier Bank Took On Bad Assets

Bloomberg | James Sterngold | Posted 09.23.2009 | Denver

Read More: Fdic, Banking Crisis, Colorado, Greeley Colorado, New Frontier Bank, Bank Bailout, Financial Crisis, Denver News

Sept. 23 (Bloomberg) -- New Frontier Bank, the largest lender in northern Colorado, had a lot to be proud of in early 2007. Assets had grown by 66 pe...

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Bankers Versus Bankers

Pablo Triana | Posted 09.19.2009 | Business

Read More: Banking Crisis, Financial Crisis, Subprime Mortgages, Lehman Brothers Bankruptcy, Lehman Brothers, Business News
Pablo Triana

A (large) group of bankers has been mauled by the mayhem-igniting actions of another (small) group of bankers.

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Top Canadian Banker Explains Green Strategy

Diane Francis | Posted 09.15.2009 | Green

Read More: Investment Banks, Canadian Broadcasting Corp., Oil Sands, Canadian Oil Sands, Environment, Green, Financial Crisis, Banking Crisis, Environmental Sustainability, David Suzuki, Financial Post, Green News
Diane Francis

Canada's banking system is one of the best regulated, and modulated, in the world, which is why no Canadian financial institution went bust during the 1930s Depression.

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Cheronda Guyton: Wells Fargo Exec Fired For Using Reclaimed Malibu Home

AP | Posted 09.15.2009 | Business

Read More: Banking Crisis, Foreclosure Crisis, Foreclosure, Wells Fargo, Cheronda Guyton, Cheronda Guyton Picture, Cheronda Guyton Wells Fargo, Cheronda Guyton Photos, Cheronda, Charonda Guyton, Wells Fargo Cheronda Guyton, Wells Fargo Exec Fired, Cheronda Guyton Photo, Business News

UPDATED: Check out PHOTOS of the $12 million Malibu beach home that Cheronda Guyton partied in. MALIBU, Calif. — Wells Fargo & Co. has fired a...

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The Financial Identity Crisis

Schuyler Brown | Posted 11.08.2009 | Business

Read More: Banking, Branding, Banking Crisis, JPMorgan Chase, Banks, Money, Finance, Business News
Schuyler Brown

People are just not loyal to banks anymore, and why should they be? Banks leveled the first blow to the relationship by becoming estranged, unfamiliar and impersonal.

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Consumer Protection Should Work for Consumers

Tom Donohue | Posted 11.08.2009 | Business

Read More: Cfpa, Consumer Protection, Tom Donohue, Banking Crisis, Chamber of Commerce, Business News
Tom Donohue

Creating the Consumer Financial Protection Agency to deal with consumer finance issues makes about as much sense as dictating the sizes, flavors, and temperature of coffee because a few consumers spilled their beverages and were burned.

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Wall Street Rules: The Bernanke Reappointment

Robert L. Borosage | Posted 09.26.2009 | Politics

Read More: Federal Reserve, Banking Crisis, Ben Bernanke, Ben-Bernanke-Reappointment, Politics News
Robert L. Borosage

Ben Bernanke has performed valiantly in an unprecedented crisis. But save the laurels for later; the Senate should grill him, not deify him.

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Banking on Failure: FDIC Shutting Down Insolvent Banks at a Record Pace

Sheldon Filger | Posted 09.18.2009 | Business

Read More: Banking Crisis, Colonial-Bank, Timothy Geithner, Colonial Bank Failure, Fdic, Bank Failures, Federal Deposit Insurance Corporation, Eurozone, Stress Tests, Former-Soviet-Bloc, Geithner Banks, Obama Bank Stress Tests, FDIC Banks, Banks, Western Europe, Eastern Europe Economy, Bank Bailout, Geithner Bank Bailout, Business News
Sheldon Filger

It is preposterous to conclude that the U.S. banking sector is well capitalized and strong enough to endure a severe economic recession.

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Banking: Transfer Toxic Assets to a New RTC

Jerry Chautin | Posted 09.17.2009 | Business

Read More: Fdic, Politicians, S&L Crisis, Rtc, President Obama, Banking Crisis, Economic Recovery, Resolution Trust Corporation, Toxic Assets Plan, Financial Institutions, Business News
Jerry Chautin

These banks are not able to resume normal lending operations because they are not willing to dispose of their toxic assets at the current market values.

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China's Miracle Economy: Have the Chinese Become the World's Greatest Capitalists?

Ellen Brown | Posted 09.17.2009 | World

Read More: Monopoly, Banking Crisis, Communism, Wall Street Bailout, Capitalism, China Economy, World News
Ellen Brown

To the extent that China's stimulus plan is working better than in the U.S. and the U.K., this seems to be because the government is using the banks for public ends, rather than allowing the banks to use the government for private ends.

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