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Big Banks

The Big Banks' Battle Against Consumers and Homeowners

Mike Lux | Posted 05.25.2011 | Business
Mike Lux

Trying to build a new agency whose actual mission is to act on behalf of consumers in times like these is a treacherous undertaking, and Elizabeth Warren is battling on two major fronts of her own.

Ryan Grim

Underwater Homeowners Gathering Tuesday Evening Across The Country

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

On Tuesday evening in Boynton Beach, Fla., underwater homeowners are gathering for happy hour at Ralph and Rosie's Restaurant, an independently owned ...

Obama's Chamber Speech: The Debates About Regulation and the Social Contract

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

The president didn't challenge the Chamber, or the American business community, enough in his speech. But it was good to see him make a strong case for the role of regulation, and for the importance of the social contract.

Entrepreneurial Populism

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

If we want to make any progress in the legislative or regulatory arena, progressives will need to frame their ideas in new ways and look for alliances that go beyond the usual suspects.

Simon Johnson: The Ruinous Fiscal Impact Of Big Banks

New York Times | SIMON JOHNSON | Posted 05.25.2011 | Business

The newly standard line from big global banks has two components -- as seen clearly in the statements of Jamie Dimon of JPMorgan Chase and Robert E. D...

Fraudclosure: Will State AGs Step Up to Their Moment in History?

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Rumor has it that the 50-state attorneys general investigation into the Fraudclosure scandal is wrapping up. It's time for a backbone check.

William Alden

Banks Ease Credit To Big Companies, But Leave Out Small Business

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

In a sign that life may be getting easier for big U.S. corporations, large banks are beginning to make loans more available. Citing increased competi...

Big Banks Have 'Already Seen Their Glory Days,' Analysts Say

washingtonpost.com | Jia Lynn Yang | Posted 05.25.2011 | Business

Revenues at big financial firms are down across the board and could continue stalling for years as new regulations kick in and consumers borrow vastly...

Shadow Elite: Move Your Money and Beyond -- Reforming Market Culture From the Bottom Up

Annelise Riles | Posted 05.25.2011 | Business
Annelise Riles

Like efforts by good citizens to clean up a decrepit park frequented by drug dealers, it's time to pick up the trash left by the financial destruction, and challenge each other to clean up our acts.

Stop the Big Bank Bonus Deja Vu

Lisa Gilbert | Posted 05.25.2011 | Business
Lisa Gilbert

Ordinary Americans continue to suffer from foreclosures, unemployment, and cuts in public services, as the largest banks take in the nation's wealth and prepare to use it to award massive bonuses to the bankers that crashed our financial system.

Anat Admati: Dividends Can Wait Until Banks Are Stronger

Financial Times (via Stanford GSB News) | Anat Admati | Posted 05.25.2011 | Business

American banks, encouraged by good earnings, are itching to "return capital" to shareholders. The US Federal Reserve is expected to allow dividend inc...

State AGs: Foreclosure Reform Deal With Banks Is A Long Way Off

New York Times | DAVID STREITFELD and NELSON D. SCHWARTZ | Posted 05.25.2011 | Business

Changing the face of foreclosure in America will take some time, several state attorneys general said Wednesday, cautioning that an agreement with maj...

Bank Dividends Are About To make A Comeback

The New York Times | Nelson D. Schwartz and Eric Dash | Posted 05.25.2011 | Business

Investors in bank stocks are about to get a big cut of the profits again. Financial analysts say the nation's largest banks are ready to begin rest...

Is Another Bank Bailout Coming?

Mike Lux | Posted 05.25.2011 | Business
Mike Lux

To once again bail out the bankers, this time by changing real estate law in a way that hasn't been done since the 1670s, would be a far bigger deal than even the trillions in bailout dollars the TARP and Fed gave these banks in 2008/9.

Obama, Daley, and Progressive Strategy Now

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Progressives cannot afford to take the attitude that with Bill Daley as White House Chief of Staff, all is lost and we should just give up on trying to influence policy and politics in regards to economics and other issue areas.

Big Banks To New Jersey: Stop Bugging Us About Foreclosure Documents

Daily Finance | Abigail Field | Posted 05.25.2011 | Business

When New Jersey tightened its rules for foreclosures in response to the crisis over false loan documents, it took the unprecedented step of ordering t...

Faced With Scrutiny, Banks Slowing Foreclosures

nytimes.com | David Streitfeld | Posted 05.25.2011 | Business

PHOENIX -- An array of federal and state investigations into the way banks foreclose on delinquent homeowners has contributed to a sharp slowdown in f...

FDIC Proposes Bigger Fees For Megabanks

AP | Posted 05.25.2011 | Business

WASHINGTON — Federal bank regulators have proposed a new system of fees paid by U.S. banks that would shift more of the burden to bigger institution...

Lenders Pass Costs Of New Rules Onto Big Borrowers

wsj.com | AARON LUCCHETTI | Posted 05.25.2011 | Business

Banks feeling squeezed by rising regulatory costs are trying to pass along the pain to big corporate borrowers. In the past several weeks, lenders ...

How The Financial Crisis Made Big Banks Bigger

The Atlantic | Daniel Indiviglio | Posted 05.25.2011 | Business

Banks are finally beginning to lend, the big ones that is. Commercial and industrial lending is up this quarter 0.2% from the third quarter, according...

The GOP and the Banks: Cutting the Garlic Budget as the Vampires Attack

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

Like vampires, America's banks are creatures who were brought back from the dead through the public's generosity. Now they're feasting on the rest of us again, while politicians work to rob us of the few tools we can use to defend ourselves.

CONFIRMED: Bank Of America Will Be Wikileaks' Next Target

Carly Schwartz | Posted 05.25.2011 | Business

UPDATE: Julian Assange did not confirm he has information pertaining to Bank of America. AFP misrepresented an interview with Assange in a Times of Lo...

Strategy Number One: Shift Money From the Big Banks

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Our best economic program right now is to shift money from the banks, and put it into the hands of consumers who might actually buy products and businesses who might actually hire more workers.

Ryan Grim

Half Of Bank Pay Could Modify Every Underwater Mortgage

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

Wall Street banks are on pace to pay out some $143 billion in compensation for 2010, just shy of their record year of 2007. But given the widespread l...

Small Business Saturday Makes Economic Sense

Katy Welter | Posted 05.25.2011 | Business
Katy Welter

This Saturday, November 27, is so-called Small Business Saturday, sponsored by American Express. Specifically, the credit card giant is offering card ...