How should the west and in particular my country, the United States of America, comport itself diplomatically in these times. What beacons should we present to help inspire the 21st century to be better? Are we credible inspirations?
In December 2009, my friend Arianna Huffington called with this idea to educate "ordinary" people about the financial system. We called that project "Move Your Money" and the tool has been running ever since.
The FDIC closed another bank in Georgia this week bringing the total to three so far in 2012. Global Commerce Bank in Doraville became the latest casualty of the bank clean up's march through the South.
The general pattern of the FDIC closing banks with weak operating characteristics and deepening asset quality troubles continues. The FDIC shuttered four additional banks today bringing the 2012 count to seven.
Come April Fool's Day, the free ride is over. The "base assessment amount" changes to a new formula. From now on it's the bank's total assets minus its tangible common equity (TCE) that determines the base amount.
Next time you interact with your bank, ask them to tell you more about they are doing about expanding loan production. Some will balk, but others will gladly wax on about how they'll make things better.
The U.S. is a big country and D.C. isn't the only place exploring ways to find economic recovery formulae. Across the country, cities and states are beginning to chart independent paths to creating their own "islands of recovery".
Richard Alarcon and his colleagues on the L.A. City Council drafted an ordinance calling for the city to favor financial contracts with banks that demonstrate "responsible banking practices" benefiting the economy and people of L.A.
The ensuing aimless frustration and fury in politics are the cards that excite the media as the pursuit of ratings turns everything into reality television. But where are the voices of the American center?
Six months after 9/11 on March 11, 2002 the created the color code threat system was created. Life in the United States has been Yellow ever since; we have altered our infrastructure to accept constant threat as normal.
These hearings that could improve the Community Reinvestment Act, the 1977 law designed to ensure banks remain connected to communities. Regulators decided it may be time to update how this law is enforced.