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Does the FDIC Have 99 Years to Pay Insured Deposits?
In these uncertain times, many are questioning the safety of their money in the banking system and question whether or not the Federal Deposit Insurance Corporation can provide adequate protection to consumers of failed banks. The... More of this article »
Why did the Federal Reserve Devalue the U.S. Dollar to 5 Cents?
The Federal Reserve took control over the United States money supply in 1913. Since then, the buying power of a dollar has decreased by 95% according to data from the Consumer Price Index (CPI). The Federal Reserve’s laissez faire... More of this article »
Kansas City Fed Bank President Says Cut Debt, Be Firm On Interest Rates
President of the Kansas City Federal Reserve, Thomas Hoening said in a speech given at the annual meeting of the Kansas Banking Association that actions need to be taken in reducing the nation’s debt, both federal and consumer. The... More of this article »
Will Rand Paul Take up the Federal Reserve Fight in the Senate?
Over the last few months, there has been a growing movement to bring transparency and new levels of accountability to the US Federal Reserve. Congressman Ron Paul has been leading the fight in the House of Representatives. There’s... More of this article »
Bank of America: Federal Oversight Still Needed
Bank of America (NYSE: BAC) has lost $5.7 billion in 2009 and is not expecting a strong second half of the year. Bank of America is hoping to get out of the eyes of the US Treasury by repaying their TARP loans, but BofA’s financials... 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 »
U.S. Committed to Implement Basel II Banking Rules, Geithner Says
U.S. Treasury Department officials stated on Saturday that the United States is committed to implementing Basel II capital rules for banks in order to ensure the financial stability of U.S. banks. Some differences have emerged in London... 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 »
InBank, Platinum Community Bank, Vantus Bank and Others Fail
Like clockwork, Federal regulators took over five banks spanning across Arizona, Illinois, Iowa and Missouri today, bringing the total number of bank failures to 89 amid the worst financial crisis since the Great Depression. The two... More of this article »
How Kennedy’s Death Will Impact Congress’s Wall Street Reform Efforts
President Obama’s effort to reboot how the Federal Government regulates wall street could face major problems if Senator Tim Johnson, whose home state of South Dakota is a major hub for Credit Card companies, takes over the chairmanship... More of this article »
Private Currencies: What if the US Dollar Went Away?
There’s a growing movement to privatize the banking industry. Many are calling for reform. Some want to audit the Federal Reserve, others, such as Representative Ron Paul from Texas want to end the Federal Reserve all together. Others... 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 »
Senator Schumer Pushes Change In SEC Funding Following Madoff Failures
New York Senator Charles Schumer, Democrat, released a statement on Thursday listing his intent to push a proposal that would change the Securities and Exchange Commission’s method of funding, providing the agency access to millions... 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 »
What Would the United States Look Like Without the FDIC?
There’s a small but growing movement of concerned citizens that are hoping to turn the financial world on it head and eliminate the Federal Reserve. We recently looked at what the United States might look like without the Federal... More of this article »
Bank of America, Wells Fargo and Citibank to Accept California IOUs as Deposits
Bank of America (NYSE: BAC), CitiBank (NYSE:C), Wells Fargo (NYSE: WFC) have announced they will start accepting state-issued IOUs from customers as deposit. Wells Fargo will begin accepting California’s state-issued IOUs on September... More of this article »
What Would the United States Look Like Without the Federal Reserve?
Since H.R. 1207 was introduced by Dr. Ron Paul in Congress this February, there has been a growing movement questions whether the Fed should continue to operate without more oversight and some question whether or not the Federal Reserve... More of this article »
Wells Fargo (WFC) Announces Plans to Repay TARP Loans
Wells Fargo (NYSE: WFC) announced on Tuesday that it has developed plans to repay the funds it received under the Troubled Asset Relief Program (TARP) without diluting its existing shareholders. In October of 2008, the federal government... More of this article »
The Financial Insanity of Government, Banking, and Moral Hazard
While the mainstream press falls all over itself to continue the mantra of the banks and other huge businesses having to been bailed out by the government, the reality is we’ve been placed in a much worse position now than before... More of this article »
NY Federal Reserve President Says US Can Avoid Coming Inflation
Bank president of the New York Federal Reserve, William Dudley, said that the Federal Reserve has the tools it needs to prevent inflation from accelerating and doesn’t need to begin shrinking its balance sheet. The central bank has... More of this article »
US Government Collects $4 Billion in Profit from TARP Participants
The United States Federal Government has collected profits of about $4 billion from eight of the nation’s largest banks that have repaid fully their loans from the Troubled Asset Relief Program (TARP) in addition to the repayment... More of this article »
Federal Reserve Audit May be Part of Financial Regulation Overhaul
Barney Frank, Chairman of the House Financial Service Committee, announced that a Federal Reserve audit will be part of the Congress’s regulatory overhaul on the financial services industry. In February of this year, Congressman... More of this article »
Will Business and Banking Bailouts Kill the American Economy?
While most in the mainstream media have been presenting Ben Bernanke as a hero who has saved the American economy, the reality is he may have done the greatest damage to it of any single man in American economic history. Usually he’s... More of this article »