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Wells Fargo Under Increasing Scrutiny Over its Assessment of its Loan Portfolio
Wells Fargo’s (NYSE:WFC) leadership is coming under increased scrutiny as its interpretation of its loan situation in contrast to its shareholders, analysts and outside examiners brought in to go over their books is diametrically... More of this article »
JP Morgan Chase Launches its Chase Blueprints to Help with Financial Management
JP Morgan Chase (NYSE:JPM) has released it Chase Blueprint initiative via its Chase Card Services unit, which is built to help consumers better manage their personal finances. What Chase Blueprint empowers a Chase customer to do is... More of this article »
Editorial: Entangling Alliances: Another Reason the Federal Reserve Needs to be Abolished
There are many reasons why the Federal Reserve, at minimum, needs to be audited, and eventually, needs to be shut down. One of those reasons is the secret dealings it has with foreign nations’ central banks, which are done completely... More of this article »
Commercial and Alt-A Loans Next Major Bank Problems
While the subprime and prime home mortgage loan problem is still far from being solved, there is the continual loan failures coming from commercial and Alt-A loans that will continue to put tremendous pressure on the banking industry... More of this article »
Fallout from Rejection of SEC/BofA Settlement
The rejection of the proposed $33 million settlement between the SEC and Bank of America (NYSE: BAC) has created a number of interesting scenarios and potential fallout from the decision. Included with that fallout will be the bringing... More of this article »
Jim Rogers Says Bank Regulators Should be in Jail For Not Allowing Banks to Fail
There is a lot to say on the consequences of the policies of the regulators and the Federal Reserve from outrageous and irresponsible bailouts of big banks and some big businesses, and we’ll continue to talk about and expose... More of this article »
Nobel Prize-winning Economist Says Government Not Fixing Right Banking Problems
According to Nobel Prize- winning economist Joseph Stiglitz, the problems connected to the banking and financial industry are now worse than they were before the U.S. government intervened to prop up the poorly run banks. In an interview... More of this article »
Judge Denies $33 Million Settlement between SEC and BofA
In what is a surprise move to me, Federal District Judge Jed S. Rakoff set a trial date of February 1 after denying a proposed settlement between the SEC and Bank of America (NYSE:BAC) of $33 million, in which both parties agreed to.... More of this article »
Editorial: Illusory Economic and Banking Recovery Continues – Right?
Many people are either scratching their heads in consternation or celebrating over the assertions by the government and its court economists that the economy in the U.S., and by extension – the world – is in a state of... More of this article »
Mobile Banking ‘Report Card’ Shows it’s Rolling Out Slowly
Mobile banking has been touted as the future of banking, and for the last couple of years some banks have been slowly rolling out mobile banking programs to test the waters. According to a mobile banking report card from ABI Research... More of this article »
Defiant Bank of America Lawsuit Could Bring Transparency We’ve Been Looking For
Bank of America Corp. (NYSE:BAC) is refusing to cave in to threats and allegations from New York Atty. Gen. Andrew M. Cuomo, and is ready to go to legal battle if the $33 million settlement agreed upon with the Securities and Exchange... More of this article »
Pressure to Regulate Bank Debit Cards Increasing
It’s somewhat puzzling to me the big deal being made about the overdraft fees being charged for the use of debit cards. The reason is that the vast majority of consumers don’t overdraft their bank accounts, and those that... More of this article »
Editorial: Alan Greenspan Blames Human Nature, Not Himself, for Financial Crisis
Alan Greenspan thought when he stepped down as Chairman of the Federal Reserve that his place and name in economic history had been preserved, as he presumably had overseen the longest uninterrupted period of economic growth in the... More of this article »
Editorial: Will Our Money Ever Feel Safe Again?
For those of us who understand the underlying weaknesses and vulnerability of fractional reserve banking, and by extension the Federal Reserve and the FDIC, among other elements of the banking system, it wasn’t a surprise when... More of this article »
Editorial: The Nonsense of “Reining in Bankers’ Pay” and Why Central Planning Never Works
As I mentioned in my last article about the attempt at instituting a bunch global rules on the banking industry not being workable, as the issue is a systemic one, and not one of being underregulated. As long as fractional reserve... More of this article »
Reasoning of FDIC Behind New Supervisory Procedures of Newly Insured Banks
The reasoning behind the FDIC’s decision to increase the supervisory period over new banks from three to seven years is faulty to me, although it won’t hurt the banks in general. What the FDIC drew their conclusion from... More of this article »
Statement from G20 on How They’re Going to Strengthen Financial System
Over the last couple of days financial leaders from the G20 countries and Central Bank Governors got together to talk about what they should do going forward in strengthening the global financial system, which has broke down in the... More of this article »
Editorial: Is Focus on Bank CEO Pay a Smokescreen for Federal Reserve?
There are a lot of ignorant and clueless writers who attempt to make it sound like the pay structure of Wall Street CEOs could have been behind the failure of the banking system: fractional reserve banking and the Federal Reserve. Now... More of this article »
Bank of Kentucky Acquires Three Branches of Integra Bank Corp.
Struggling Integra Bank (NASDAQ: IBNK) will sell three of its bank branches based in northern Kentucky to Bank of Kentucky, and sell off assets of two other branches to the bank, which it will close down. “This divestiture will enhance... More of this article »
Editorial: Fractional Reserve Banking and the Federal Reserve
I was reading the other day that the idea of getting rid of the Federal Reserve was based on faulty assertions that the booms and busts we’ve experienced since its inception in 1914, also happened during the 1800s, largely undermining... More of this article »
Bank of America Still Largest U.S. Bank
Measured by overall assets, Bank of America (NYSE: BAC) still retains its status as the largest bank in America, but unfortunately it does so because of the use of taxpayer funds to bail them out, which they still owe us. The data... More of this article »
Citigroup Continues to Shed Toxic Assets, Adds Commodity Traders
Although Citigroup (NYSE: C) should have been allowed to fail, since that wasn’t allowed to happen, it is at least instructive to follow what they’re doing in attempts to survive and strengthen itself. When measured by... More of this article »
New York Judge: Banks Must Prove Ownership or No Foreclosure
An amazing story has emerged in New York where Judge Arthur M. Schack has shaken up the banking industry, having the gall to actually check the paperwork presented to him in numerous cases of banks seeking to foreclose on homeowners. Before... More of this article »