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The Next Populist Flashpoint? State Budget Shortfalls Meet Big Bank Bonuses

George Goehl | Posted 05.25.2011 | Business
George Goehl

Don't be surprised if state budget shortfalls become the next populist flashpoint in the U.S. Rising foreclosures and unemployment coupled with service cuts and furloughs will only raise the tension level in an already tense environment.

Citizens United Reveals the Danger of Our Right Wing Supreme Court

Mitchell Bard | Posted 05.25.2011 | Politics
Mitchell Bard

Here is the dirty little secret the GOP doesn't want you to know: The four extreme right wing Supreme Court justices are as activist as any judges can get.

Shahien Nasiripour

Obama Announcement Revives Regulatory Push | Shahien Nasiripour | Posted 05.25.2011 | Business

President Barack Obama's new proposal to limit megabanks' trading activities wouldn't actually break up "too big to fail" institutions -- but it does ...

Wells Fargo Profits $394M In 4Q 2009

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — Wells Fargo & Co. on Wednesday took a more optimistic view than other banks about the outlook for the loan business and the economy a...

Obama To Propose New Limits On Banks, Revive 'Spirit Of Glass Steagall'

Wall Street Journal | DAMIAN PALETTA and JONATHAN WEISMAN | Posted 05.25.2011 | Business

WASHINGTON -- President Barack Obama on Thursday is expected to propose new limits on the size and risk taken by the country's biggest banks, marking ...

Banks' Small Business Lending Shrinks By $1 Billion

Jan. 18, 2010 | Catherine Clifford | Posted 05.25.2011 | Business

NEW YORK ( -- The nation's biggest banks cut their collective small business lending balance by another $1 billion in November, according...

PPIP: Banks 'Making A Killing' On Government Toxic Asset Program

Posted 05.25.2011 | Business

Remember the Public-Private Investment Program (PPIP)? The Treasury Department unveiled the program in March and intended it as a way to help banks un...

After TARP Exits, Obama Searching For New Ways To Boost Credit

BusinessWeek | Bradley Keoun | Posted 05.25.2011 | Business

It will take more than a guilt trip to boost credit. With Citigroup (C) and Wells Fargo (WFC) joining JPMorgan Chase (JPM) and Bank of America (BAC) i...

Bailout Payback: Wells Fargo, Citigroup Repay $45 Billion In TARP Funds

AP | Posted 05.25.2011 | Business

SAN FRANCISCO — Wells Fargo plans to sell $10.4 billion in new stock to help repay all $25 billion in bailout aid it received from the governmen...

Banks' 2008 Stock Options Turning Out To Be Most Lucrative Payouts Ever

The New York Times | LOUISE STORY | Posted 05.25.2011 | Business

Banks cut bonuses last year and shifted more pay into stock and options from cash, a tactic that lawmakers supported for its emphasis on long-term per...

Dodd's Bill Protects Customers From Abusive Overdraft Fees

Mary Ann West | Posted 05.25.2011 | Business
Mary Ann West

Ninety percent of bank overdraft fees happen to only ten percent of checking account holders, comprising those people who are also the most vulnerable.

Haiti Credit Card and Bank Donations: Companies Must Use Their Consciences

Rep. Betsy Markey | Posted 05.25.2011 | Denver
Rep. Betsy Markey

We await word from Citigroup, JP Morgan Chase, Wells Fargo, and Bank of America. My hope is that they will make sure that every dollar donated to earthquake relief gets directly to the people of Haiti.

And You Thought the Purpose of a Bank was to Make Loans?

Charles H. Green | Posted 05.25.2011 | Business
Charles H. Green

A real-life tale of woe suggests Wells Fargo has little interest in lending money to credit-worthy people borrowers.

Geithner: TARP Repayments Don't Hurt Bank Lending Ability

Bloomberg | Rebecca Christie | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner said U.S. banks aren't hurting their ability to lend as they repay the Troubled Asset Relief Program and back away...

Shahien Nasiripour

Nation's 4 Biggest Banks Cut Business Lending By $100 Billion Since April | Shahien Nasiripour | Posted 05.25.2011 | Business

While the administration and Congress work to increase bank lending, the nation's four biggest banks have collectively cut their loans to businesses b...

Fed Said to Ask Stress-Tested Banks to Submit TARP Repayment Plans

Bloomberg | By Scott Lanman and Craig Torres | Posted 05.25.2011 | Business

The Federal Reserve asked nine of the U.S. banks that were part of this year's stress tests to submit plans for repaying the government's capital inje...

Showdown in Chicago: Creating a "Which Side Are You On" Moment

George Goehl | Posted 05.25.2011 | Business
George Goehl

Until our elected officials know there is a price to pay for siding with big money over everyday people, the average American will continue be on the losing end.

Wells Fargo Credit-Card Rates Rise Ahead of Law | Peter Eichenbaum | Posted 05.25.2011 | Business

Oct. 7 (Bloomberg) -- Wells Fargo & Co. plans to raise interest rates on a majority of credit-card customers by 3 percentage points before new rules l...

Big Banks Repeatedly Bending Loan Modification Rules

ProPublica | Posted 05.25.2011 | Business

Nathan Reynolds is something of an expert on the government's foreclosure prevention program. A mortgage broker who's worked in the Chicago area since...

Wells Fargo: Cash Bonuses Withheld From Executives In 2009

AP | MARK JEWELL | Posted 05.25.2011 | Business

BOSTON — Wells Fargo & Co.'s four top executives won't get cash bonuses for 2009, but are receiving performance-based stock awards currently wor...

Banks Exit Wrath Of TARP | John Gapper | Posted 05.25.2011 | Business

As banks rush out of Tarp to avoid second-guessing from Congress and restrictions on executive pay, little has changed on Wall Street. Bear Stearns an...

Arthur Delaney

Credit Card Abuses Won't Stop After Reform Takes Effect: Report | Arthur Delaney | Posted 05.25.2011 | Business

Next February, the credit card reforms signed into law by President Obama earlier this year will finally take effect. Goodbye arbitrary rate hikes. He...

Felix Salmon: Goldman Sachs Thrives From Low Interest Rates, But Profits Are "Unsustainable"

Felix Salmon | Posted 05.25.2011 | Business

To put these numbers into perspective, a savings of 2.43 percentage points in one quarter amounts to $1.2 billion in saved interest costs on $203 bill...

Shahien Nasiripour

One Company Responsible For Nearly Half Of All Permanent Mortgage Modifications | Shahien Nasiripour | Posted 05.25.2011 | Business

Nearly half of the permanent home loan modifications under the government's plan to help troubled borrowers come from a single company that handles le...

Haiti Relief: Corporate Donations - See How Much Major Companies Are Donating

Posted 05.25.2011 | Business

HAITI RELIEF UPDATES: The Latest Corporation Donations In response to the crisis in Haiti, companies around the world are scrambling to donate to t...