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Big Banks

What's the Difference?

Daron Acemoglu | Posted 11.06.2012 | Politics
Daron Acemoglu

2012-08-28-scblog2.png Though the policies advocated by Republicans and Democrats are diametrically opposed on the surface, their implications and their constituencies may be much more similar.

Running for President? Better Know a Big Bank Bundler (or Several Hundred)

Dan Petegorsky | Posted 10.28.2012 | Politics
Dan Petegorsky

As Republicans gather in Tampa this week, they've got a bit of a problem: figuring out how to wine, dine, and celebrate their sugar daddies in style without ripping back the veil of secrecy they've drawn over their super-wealthy backers.

America's Next Top Model Contestant Now Trying For Top Banker

Posted 08.24.2012 | Business

A former America’s Next Top Model contestant is now one step closer to becoming America’s next top banker. Citigroup is hiring season 5 contest...

Banker Bill Harrison's Bogus Brief for (Broken) Big Banks

Richard (RJ) Eskow | Posted 10.24.2012 | Business
Richard (RJ) Eskow

Every day we rise and tell ourselves this will be a good day, free of that unique combination of predation, self-pity, mediocrity and disingenousness which characterizes the modern bank executive. And every day somebody proves us wrong.

Why I Still Do Business With Bank Of America

The New York Times | Posted 10.22.2012 | Money

Okay, I've admitted it: I bank with a big, money-center bank. Specifically, Bank of America. It's not the sole institution with which I bank. But I...

High Finance Tales

Christopher Brauchli | Posted 10.17.2012 | Politics
Christopher Brauchli

It's time for an update on activities occurring in the world of high finance. Several newsworthy events have occurred.

Consumers Fight Big Banks for a Day in Court

Rep. Dennis Kucinich | Posted 10.17.2012 | Business
Rep. Dennis Kucinich

The public at large is finally learning about abuses in the credit card banking industry. Over time, the banks may change their policies. But as a consumer, you must learn your rights, and you must insist that your rights are upheld.

Jamie Dimon's Great New Slogan for Romney-Ryan

Mike Lux | Posted 10.14.2012 | Politics
Mike Lux

Given the massive bailouts the industry scored in 2008-9, and how easy policy-makers have been on them, the arrogance and hubris of talking about Soviet style government is pretty amazing. But then that fits quite well with Romney and Ryan, too.

Catherine New

How To Get Free Gas This Week

HuffingtonPost.com | Catherine New | Posted 08.14.2012 | Money

Next to offering an open bar night, free gas may be the next best way to soften up potential new customers. That is the strategy community banks and c...

Bank Off The Hook On Subprime Mortgages Probe

Reuters | Posted 10.09.2012 | Business

* Lifts estimate of "reasonably possible" legal losses * Firm says lost money on six trading days in 2nd qtr * Cuts mark...

Bank To Pay $4.8 Million To Settle Charges That Cost Customers $300 Million

Reuters | Posted 10.07.2012 | Business

* Morgan Stanley to pay $4.8 mln, no admission of wrongdoing * Electricity price-fixing said to cost consumers $300 mln ...

Shark Sightings from Cape Cod to Wall Street

Nancy Rubin Stuart | Posted 10.07.2012 | Business
Nancy Rubin Stuart

A new generation of finance shark pups have been growing in the muddy waters of big business since the 1980s.

Catherine New

Credit Unions Can Thank WaMu For Kicking Off Bank Exodus

HuffingtonPost.com | Catherine New | Posted 08.02.2012 | Money

Long before Occupy Wall Street protesters were doling out Big Bank Haterade, Main Street customers were steadily moving their money out of banks and i...

Jamie Dimon, Professional Skateboarder?

The Huffington Post | Harry Bradford | Posted 07.30.2012 | Business

The man President Barack Obama calls “one of the smartest bankers we’ve got,” is actually a professional X-Games skateboarder, according to some...

Senator Defends Controversial Move

The Huffington Post | Alexander Eichler | Posted 07.26.2012 | Business

Say this for Phil Gramm: the man sticks to his guns. Thirteen years after helping to repeal the Glass-Steagall Act and under widespread criticism, ...

Sandy Weill: Too Little, Too Late

Charles Gasparino | Posted 09.24.2012 | Business
Charles Gasparino

Sandy Weill's Citigroup engaged in fraud on a massive scale, unfettered risk taking and then needed a massive taxpayer bailout during the 2008 financial crisis because it was so big it couldn't be managed. Yet only now does Weill say it was all a mistake.

Bailed-Out Banks Using Government Money To Pay Back Taxpayers

Reuters | Posted 09.23.2012 | Business

* 137 banks used other government program to repay bailout money * More than 200 bailed-out banks have missed dividend payments ...

Good Luck Finding An American Who Trusts Wall Street

AP | The Associated Press | Posted 07.24.2012 | Business

-- A survey finds fewer than one in four Americans trust the financial system and that confidence in large banks is eroding. The latest quarterly su...

The Surprising Reason Big Banks Are Getting More Complex

The Huffington Post | Bonnie Kavoussi | Posted 07.23.2012 | Business

On Wall Street, there's a benefit to developing into something big and complex. America's seven biggest banks now have more than 14,500 subsidiari...

UBS Doesn't Exactly Have A Great Track Record When It Comes To Scandals

The New York Times | JAMES B. STEWART | Posted 07.21.2012 | Business

As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record ...

Break Up the Big Banks and Hold Their Managers Accountable for Their Misdeeds

Allan Brawley | Posted 09.19.2012 | Money
Allan Brawley

The behavior of the largest banks is not only rapacious and destructive to the social fabric, it is also stunts economic growth. They are not investing the huge resources they have accumulated in ways that would stimulate the economy.

Guys, It's Okay To Buy JPMorgan Stock Because Jamie Dimon Is Doing It Too

AP | Posted 09.19.2012 | Business

NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon is boosting his stake in the bank by 360,000 shares. A regulatory filing Friday says D...

BofA Sets Aside Least Money To Cover Bad Loans Since Before Crisis

AP | CHRISTINA REXRODE | Posted 09.17.2012 | Business

Bank of America can't shake its mortgage headache. In a reminder that the consequences from the financial crisis are far from over, the bank said Wed...

Bad News For Goldman

AP | PALLAVI GOGOI | Posted 09.16.2012 | Business

NEW YORK — Another tough quarter, another reminder for Goldman Sachs that it's not just its reputation that's under attack. The once-mighty inv...

JPMorgan Allegedly Pushed 'Inflated, Hypothetical Returns' Of In-House Funds

Reuters | Posted 09.15.2012 | Business

* NY lawsuit says funds overpriced, underperforming * Says brokers got incentives to sell JPM funds * Case seeks class a...