Browsing All Posts filed under »BANKING INDUSTRY«

Big Government Battles Big Banks: Obama and Congressional Dems Speak Out

October 26, 2011

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For those of us for whom big government is anathema, there is a sense that only a big government can battle a big bank these days.  Bank of America’s abuses have been well-documented in their mortgage practices among others. Most recently the Bank has overstepped its role in a free enterprise system in their determination […]

Study of Businesses and Their Connectivity Raises Concern for Global Economic Stability

October 20, 2011

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Here’s a scary bedtime story I found at midnight tonight: ‘One super-corporation runs the global economy’… and it could be terrifyingly unstable Well, now, we of a suspicious nature who believe in conspiracies will almost feel justified.  And then to learn that Banks are the largest players…. A University of Zurich study ‘proves’ that a […]

Bank of America in Trouble – Excuse Me While I Dance and Sing

September 30, 2011

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This morning the following arrived from Huff Post Hill: BANK OF AMERICA JUST BEGGING TO GO DOWN – Bank of America today announced that it would begin charging $5 per month for debit card usage, because defrauding homeowners and cashing taxpayer checks was no longer a winning business model. Well, they announced that first part, […]

Foreclosure Primer: Winners are Banks, Investors, and Losers are Homeowners, Taxpayers

May 27, 2011

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The sad fact is this:  Big Banks that helped in large part to bring the economy of this nation down have not suffered but prospered in the wake of the debacle.  One key area of profit: mortgages.  Consider the latest moves of two of them to reduce or shift fines for their mortgage practices (Bank […]

BANK OF AMERICA Rolls Out New Credit Card Fees

April 25, 2011

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The CEO of Bank of America promised it and now it has come to pass.  He promised that if the Bank rules and regs were changed and threatened profits, that banks would begin raising fees. Saturday an announcement of new terms for my BAC VISA credit card hit my mailbox.  What a shock.  One late […]

Barack’s Fiscal Plan Would “Change” America With the Sucking Sound of Personal and Corporate Wealth Leaving the Country

April 13, 2011

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“Warren Buffet doesn’t need another tax cut” [Barack Obama, Georgetown University Lecture, April 13, 2011]  Surprise, Barack.  Warren is one of the few that would expect to pay it. “We need to revise the corporate tax code to make us more competitive.” [about what Professor Obama said same lecture, same day as above – my […]

Bank Regulation Fails As JP Morgan Shows 67% Profit Gain On Fees

April 13, 2011

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At the time Congress introduced new measures to regulate banks and their loan mechanisms – including credit cards, BAC thumbed its nose at the efforts and vowed that it would have to raise fees to make up for the lost income.  Indeed at least one large bank has done that to a remarkable extent and […]

ACORN Convinces Largest NY Village to Leave Chase Bank – Part of Bring Down Big Banks Plan

April 10, 2011

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As part  of their “Destroy Chase” campaign,  ACORN has convinced the Largest NY Village, Hempstead, to withdraw its funds from JP Morgan Chase due to their predatory loan practices.  Acorn announced their campaign which was dubbed “mortgage terrorism” at the Lonely Conservative.  Hempstead is a minority-run municipality and they are leading the state-wide movement to begin […]

Ireland Considers Huge EU Loan

November 18, 2010

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The EU has offered Ireland the bailout it needs but does not want – at least right now.  It tells the EU that it will not need the money until next year. Issues of saving face and sovereignty surround the EU’s action and Ireland’s inaction. “It’ll be a large loan because the purpose of the […]

Obama to India Hat-In-Hand

November 8, 2010

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The President who has done the most to muddy the waters of co-operation and understanding in foreign affairs is now in Asia, hat in hand, cruising for crumbs, The economic agreement that will bring jobs to Boeing and others related to aircraft manufacture is neither new nor surprising.  There were no joint ventures announced or […]

Big, Bad Bank of America Back in the News Over Mortgages

October 2, 2010

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Bank of America, having had a class action lawsuit involving its home mortgage unit filed against it, is in the news again this time on the side of the borrower.  Read SamHenry post at https://samandimp.wordpress.com/2010/06/25/bank-reform-and-big-bad-bank-of-america/. Here’s hoping that congress and the banks can reach some kind of an agreement on revised procedures to follow relative […]

Cyber-Criminals Drain $3 Million from US Bank Accounts Using Trojan Malware

October 1, 2010

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It is a sad fact that the economies and the convenience that computerized banking has brought to us has opened up a Pandora’s box.  The expensive war being waged against cyber-crime and attack by foreign governments is endless.  This week, law officials got lucky. NEW YORK (CNNMoney.com) — An international cybercrime ring was broken up […]

US ECONOMIC OUTLOOK: PROL0NGED AND PROTRACTED PAIN WITH LOSS OF INTERNATIONAL POWER

June 26, 2010

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This week Vice-President Biden eulogized the American job market: “there’s no possibility to restore 8 million jobs lost in the Great Recession.” He then went on to the litany: “We inherited a godawful mess,” he said, adding there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.” [CBS News] The story […]

BANK REFORM AND BIG BAD BANK OF AMERICA

June 25, 2010

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Bank reform according to Barney Frank has been finalized by the House and Senate. It will be up for a vote next week in time for the President’s signature on another Obama-tailored for maximum effect day – the fourth of July.  No matter, banks like Bank of America didn’t lose all of their playing cards […]

In the Headlines: Obama’s Failure as International Leader and Mediator

May 19, 2010

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For someone who campaigned on putting the US back in a good light, Obama may wonder where the spotlight has gone.  It shifted early on in his administration when he did not take decisive action on fiscal matters.  A  stinging criticism of the new President as a leader and  grim forecast because of his lack […]