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U.S. Sues Wells Fargo: Yet Another Bailed-Out Bank Accused of Fraud | Matt Taibbi | Rolling Stone

Earlier this year, Charlie Munger, who is billionaire Warren Buffet’s right hand at Berkshire Hathaway and a sort of self-proclaimed mad oracle of Wall Street, made some interesting comments. He bashed people who buy gold, delivering an all-time …

More via U.S. Sues Wells Fargo: Yet Another Bailed-Out Bank Accused of Fraud | Matt Taibbi | Rolling Stone.

Filed under: Banks, Blogosphere, Economic Recession, National Debt, News, ,

Bank of America: Too Crooked to Fail | Politics News | Rolling Stone

At least Bank of America got its name right. The ultimate Too Big to Fail bank really is America, a hypergluttonous ward of the state whose limitless fraud and …

MORE via Bank of America: Too Crooked to Fail | Politics News | Rolling Stone.

Filed under: Banks, Blogosphere, consumers, News, WeSeeReason, ,

Investment banking: Bonfire of the bankers | The Economist

“IT SUCKED,” says the head of investment banking at one of Europe’s biggest banks, reviewing the fourth quarter of 2011. That succinct assessment will take few by surprise. The sale and trading of bonds and shares slowed to a …

MORE via Investment banking: Bonfire of the bankers | The Economist.

Filed under: Banks, Blogosphere, consumers, Election 2012, Mortgages, News, , ,

Buttonwood: The war on finance | The Economist

THE man who the polls suggest will be the next French president, François Hollande, claims that finance is his “real adversary” in the coming election. Britain has just stripped the former chief executive of the Royal Bank of Scotland of his knighthood. Even Newt Gingrich is attacking the “vulture capitalists” in the private-equity industry. Perhaps the West is set for a “war on finance” along the lines of the “war on terror”, with similar uncertainty about how to …

MORE via Buttonwood: The war on finance | The Economist.

Filed under: Blogosphere, consumers, Crimes and Misdemeanors, Culture Think, ethics, Public Policy, waging war, WeSeeReason, , ,

One Last Note on Mike Bloomberg | Matt Taibbi | Rolling Stone

I’m getting a number of letters, mainly from conservatives and libertarians, who seem to think that my response to Mike Bloomberg’s “It’s not the banks’ fault” rant means I “don’t believe in personal …

MORE via One Last Note on Mike Bloomberg | Matt Taibbi | Rolling Stone.

Filed under: Banks, Blogosphere, consumers, Crimes and Misdemeanors, News, WeSeeReason, ,

End Bonuses for Bankers – NYTimes.com

I HAVE a solution for the problem of bankers who take risks that threaten the general public: Eliminate …

MORE via End Bonuses for Bankers – NYTimes.com.

Filed under: Banks, Blogosphere, consumers, Crimes and Misdemeanors, ethics, News, regulations, WeSeeReason, ,

In Retreat, Bank of America Cancels Debit Card Fee – NYTimes.com

Bank of America said Tuesday that it was abandoning its plan to charge its customers a $5 fee to use their debit cards, just a month after announcing the …

MORE via In Retreat, Bank of America Cancels Debit Card Fee – NYTimes.com.

Filed under: Banks, Blogosphere, consumers, News, WeSeeReason, , , , , ,

Big Banks Blink On Debit-Card Fees – WSJ.com

A month after Bank of America got pummeled by consumers and politicians for introducing plans for new debit-card fees, most other big U.S. banks are steering clear …

MORE via Big Banks Blink On Debit-Card Fees – WSJ.com.

Filed under: Banks, Blogosphere, consumers, News, WeSeeReason, , ,

Bank of America to add $5 monthly debit card fee as era of low-cost banking ebbs – The Washington Post

Bank of America will become the first major bank to charge customers across the country a monthly fee to shop with their debit cards, part of a wave of changes that are eroding the low-cost model of banking that consumers have long …

MORE via Bank of America to add $5 monthly debit card fee as era of low-cost banking ebbs – The Washington Post.

Filed under: Blogosphere, Election 2012, Mass Media and Public Opinion, News, Technology and You, WeSeeReason, , , ,

Banks Plan New Fees for Using Debit Cards – WSJ.com

The nation’s beleaguered banking industry, which has been raising fees and doing away with free services, has a new target: debit-card users.

Bank of America Corp. is laying plans to charge millions of customers a $5 monthly fee to use their debit cards, and other big banks are expected to …

MORE via Banks Plan New Fees for Using Debit Cards – WSJ.com.

Filed under: Blogosphere, Election 2012, Mass Media and Public Opinion, News, Technology and You, WeSeeReason, , ,

Banks to Make Customers Pay Debit Card Fee – NYTimes.com

Bank of America, the nation’s biggest bank, said on Thursday that it planned to start charging customers a $5 monthly fee when they used their debit cards for purchases. It was just one of several new charges expected to hit consumers as new regulations …

MORE via Banks to Make Customers Pay Debit Card Fee – NYTimes.com.

Filed under: Blogosphere, Election 2012, Mass Media and Public Opinion, News, Social Media, Technology and You, WeSeeReason, , , ,

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