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Editorial: Will European Banking Regulators Soon Be Running American Banks?
The recent proposal by the Federal Reserve to assign itself powers to continue to interfere in the free markets provides another reason they seriously need to be reined in, and why, as Ron Paul says, we must “End the Fed.” Even... More of this article »
Credit Unions Look to Move to Private Insurance as NCUA Charges New Insurance Fees
Several boards of directors in credit unions across the nation have been voting to convert their credit union’s share insurance provide from the federally-backed National Credit Union Association (NCUA) to the privately backed American... More of this article »
SEC To Increase Oversight Of Credit Rating Agencies
The Securities and Exchange Commission voted unanimously to adopt rules that will increase oversight of credit rating agencies and improve transparency. The rules will require greater disclosure, address conflicts of interest and... 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 »
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 »
Federal Reserve To Oversee Subprime Lenders Under New Policy
Under a new policy, the Federal Reserve announced Tuesday that it will begin a consumer compliance supervision program that will perform checks on non-bank subsidiaries of bank holding companies, such as home-equity loan businesses. ... 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 »
Obama Expected To Push Regulatory Reform On Wall Street Monday
President Barack Obama will speak in New York on Monday, addressing the government’s role in the financial markets and pushing for regulatory reform on Wall Street. Since the near financial collapse last fall financial regulations... More of this article »
Money Market Guarantee Program To Expire Next Week
The U.S. Treasury Department announced last week that it will end a program which provided a temporary guarantee for money market funds. The program was installed about a year ago when the nation’s financial crisis was near its... More of this article »
Federal Reserve Failed to Stop Banks’ Flawed Loans, Says Inspector
The Federal Reserve’s inspector general stated that the Fed had failed to curb practices that lead to significant loan losses from excessive real estate landings at two banks in California and Florida that later went under. In a... More of this article »
Banks Reduce Borrowing from Federal Reserve’s Emergency Lending Facility
Over the last week, Banks decreased their borrowing from the Federal Reserve’s emergency lending facility and decreased their participation in other programs intended to ease the financial crisis, leading some to believe that the... More of this article »
Federal Reserve President Sees “Lackluster” Recovery in U.S.
The economic recovery in the United States will be “lackluster” because of weak consumer spending and strains in the financial market, Federal Reserve Bank of Atlanta President Dennis Lockhart said. In a speech yesterday in Jacksonville,... More of this article »
U.S. House to Hold Hearings on Federal Reserve Audit
Congressman Ron Paul informed the Campaign for Liberty that the House Financial Services Committee will hold hearings on Paul’s bill to audit the Federal Reserve (H.R. 1207). The hearings are currently tentatively set for Friday,... More of this article »
Congress Loses Faith in the Federal Reserve—Strips Additional Authority from New Financial Regulation
The Federal Reserve was to play a major role in the Obama Administration’s proposed regulatory overhaul of the financial system, but Congress may stand in the way. Many Senators have lost confidence in the Federal Reserve and are... 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 »
Proposed Debit Card Regulations Could Cause 1,000 Banks and 2,000 Credit Unions to Fail
New regulations that offer consumers additional rights and protections when using credit card have become law and are going into effect and now Congress will very likely focus on adding additional protections for users of checking... 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 »
How to Maximize your FDIC Insurance
If you have a significant amount of assets, you are going to want to make sure that your wealth is protected if the financial institutions that you work with go under. Here’s how to maximize the coverage your FDIC insurance offers... 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 »