Your deposits are protected only up to the $250,000 insurance limit, and only to the extent that the FDIC has the money to cover deposit claims or can come up with it. The question then is, how secure is the FDIC?
The time has come for an intelligent, independently-governed, public infrastructure bank, ideally partnering with real banks that see their public purpose as a profession, focused on productive lending in the real economy.
WikiLeaks founder Julian Assange is promising to unleash a cache of secret documents from the hard drive of a U.S. megabank executive. In 2009, he told Computer World that the bank was Bank of America (BofA).
How many of you consider yourselves a philanthropist? The word conjures up super elite icons like Bill Gates, Oprah and Warren Buffet. However, the true definition of philanthropist is "lover of humanity."
The fallout of Paulson's two disastrous decisions (to let Lehman fail and reverse his position on foreclosure relief) prompted the former Treasury Secretary to abuse his powers, with some not-so-veiled threats.