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Democrats Continue to Push Fascist Banking Regulation Agenda
Democrats continue their controversial slide away from liberty and freedom, as they move toward a fascist government, which they seek to embed in the economic system of America. Fascism, as Paxton wrote, deals with a “form of... More of this article »
Will Citibank (NYSE:C), JPMorgan (NYSE:JPM), Others, Regret Connections to Corrupt ACORN Organization?
In an attempt to hide its activities from the investigation of California Attorney General Jerry Brown, ACORN dumped thousands of documents into a dumpster which could result in class action lawsuits against banks working with the... More of this article »
Canadian Finance Minister Jim Flaherty Says ‘No’ to Proposed International Tax on Bank Bonuses
The Finance Minister of Canada, Jim Flaherty, is rightly rejecting proposals from some leaders of the G8 for an international tax on bank bonuses, as he’s not interested in ‘punishing’ those who work in a highly profitable... More of this article »
U.S. Federal Judge Declares Swiss Banker, Lawyer Fugitives From Justice
In its ongoing attack on the Swiss banking system, the U.S. continues to pursue alleged cases of Swiss bankers helping Americans hide assets in Swiss banks. The most recent has U.S. District Judge Daniel T.K. Hurley declaring Swiss... More of this article »
Jim Rogers: “The Fed is making our lives miserable … Audit It, Then Abolish It”
Saying the Federal Reserve is the only institution in the world he knows of that isn’t audited, famed investor and author Jim Rogers said in an interview, “It’s incomprehensible to me these people are saying they... More of this article »
Citigroup’s (NYSE:C) Pandit Pushing Hard for TARP Repayment Agreement
With public sentiment strong against the companies that have received TARP funds, the stigma associated with it, and the government interference that accompanies it, Citigroup Inc. (NYSE:C) CEO Vikram Pandit has been pushing hard to... More of this article »
Troubled Asset Relief Program (TARP) to be Extended by Obama Administration
The use of taxpayer dollars to bail out Wall Street will continue, as Treasury Secretary Timothy Geithner, talking to a watchdog panel on Thursday said the Obama Administration will extend the highly controversial and unpopular bailout... More of this article »
PNC Financial Services Group (NYSE: PNC) Ready to Pay Back TARP Funds in 2010
PNC Financial Services Group (NYSE: PNC) CEO James Rohr said the company has plans to pay back the $7.6 billion in TARP funds it received from the federal government sometime in 2010. Rohr added the company hopes to do it without diluting... More of this article »
UK Treasury Head Alistar Darling’s Tax on Bank Bonuses a Complete Waste Time and Resources
The move by UK Treasury head Alistar Darling to install a 50 percent tax on the bonuses awarded to bankers is largely a politically motivated decision, and in the long run will do absolutely nothing but add some pounds to the British... More of this article »
Obama Administration Clueless on Banking Issues, Sending Mixed Messages to the Industry
Again we can see why government shouldn’t ever interfere in the markets, as revealed by the confusion and cluelessness of the Obama administration in navigating the banking waters. Obama is now pushing for banks to start lending... More of this article »
TARP a Disaster Says Congressional Oversight Panel
Most people know that the TARP was and is a disaster, as it has done nothing but allow the terrible banking and business practices of the large financial institutions to be rewarded by keeping them going by throwing taxpayer dollars... More of this article »
JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon Admits Home Mortgage Losses Still Ahead for the Company
At the Goldman Sachs U.S. Financial Services conference in New York, JPMorgan Chase & Co.’s (NYSE:JPM) CEO Jamie Dimon stated there will be more losses at the bank next year in its residential mortgage business. While Dimon... More of this article »
Morgan Stanley (NYSE:MS) Fires Mitch Petrick as Head of Trading
After major rivals outperformed the institutional security division of Morgan Stanley (NYSE:MS), head of trading Mitch Petrick was shown the door. The institutional securities unit of Morgan Stanley is the largest one in the company,... More of this article »
Judge Approves Reorganization Plan for CIT Group (OTC:CITGQ.PK) to Come Out of Bankruptcy Protection
Cit Group Inc. (OTC:CITGQ.PK) has received approval from a judge to exit its bankruptcy protection and implement its reorganization plan. Formerly of the the largest lenders to small and medium-sized lenders in America, Cit Group filed... More of this article »
Keynesian College Economist Weenies Come to Aid of Their Hero Ben Bernanke in Opposition to Ron Paul’s Audit the Fed Bill
Evidently reading a script that was probably written by Ben Bernanke himself, a small number of college economists wrote a letter to the Senate Banking Committee and House Financial Services Committee saying the tired, worn out old... More of this article »
Will Ron Paul Vote Against His Own Bill to Audit the Federal Reserve?
Washington has been so out of touch with principles and reality for so long, that they probably think voting for the bill initiated by Ron Paul to edit the Federal Reserve would be political feather in the cap of Ron Paul. But it looks... More of this article »
Kuwait Sovereign Wealth Fund Rakes in $1.1 Billion in Profit After
Named the Kuwait Investment Authority (KIA), which is the sovereign wealth fund of the country, the entity, which helped Citibank (NYSE:C) with bailout funds, profited wildly when it recently sold its share in the company for $4.1... More of this article »
Citigroup (NYSE:C) Follows in Bank of America’s (NYSE:BAC) Footsteps: Seeking Permission to Pay Back TARP Funds
When Bank of America (NYSE:BAC) initiated action toward paying back the TARP funds it received, it was expected that some banks would follow behind them quickly, and that’s the case, as Citigroup (NYSE:C) is pushing the U.S government... More of this article »
UBS (NYSE: UBS) Again Allowing its Private Bankers to Visit Foreign Clients after Temporary Ban
After pressure from the U.S. government the Swiss banking regulator forced UBS AG (NYSE: UBS) and other private bankers to cease from visiting potential and existing clients across borders. Those temporary orders have now been rescinded... More of this article »
Consumer Credit Falls by $3.51 Billion in October as Spending Remains Down
A report from the Federal Reserve on Consumer credit revealed that consumers continue to focus on paying off debt and tightening up their pocket books as the recession continues to linger on. While there are those which have attempted... More of this article »
RBS (LSE: RBS) Loses More Than 1,000 Investment Bankers Over Government Interference in Bonuses
Proving that government interference in the market always has a negative impact, over 1,000 investment bankers have left the Royal Bank of Scotland (LSE: RBS.L) since the British government gave bailout funds to the bank and assumed... More of this article »
Federal Reserve Forcing Bank of America (NYSE:BAC) To Sell Some Businesses to Pay Back TARP Funds
As part of their deal to pay back TARP funds, the Federal Reserve has given Bank of America (NYSE:BAC) till the summer to name businesses in can sell in order to raise $4 billion in common equity. Last week the banking giant raised... More of this article »
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein Looking to Pay Out More Executive Compensation in Equity
With the news media, and consequently, politicians, focusing on the pay of banking executives, Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein is looking at weighting their pay with more equity in order to calm the negative perceptions... More of this article »