Holder Promises Action on Marijuana Banking

By: Friday January 24, 2014 8:30 am

State legal marijuana business might soon get some help establishing banking accounts. During an appearance at University of Virginia, Holder promised the administration would soon release new guidance for federal law enforcement regarding marijuana banking.

 

Occupy Money Cooperative Planning To Introduce Debit Cards

By: Tuesday October 1, 2013 11:05 am

Believe it or not an Occupy debit card might soon be hitting the marketplace. A group launched in the aftermath of the Occupy Wall Street demonstrations, the Occupy Money Cooperative, began raising money on September 17th – the two year anniversary of the launch of the protests – for a debit card described as a “low-cost, transparent, high-quality financial services to the 99 percent.” The card will be prepaid and is intended for those traditionally unable to use banks.

New York City Immigrants Test a New Economic ‘Bridge’

By: Saturday September 21, 2013 6:40 pm

For all the supposed potential of the “American Dream,” immigrants in New York City often have a terrible time redeeming its promise. Many arrive in the United States with no financial grounding or burdened by a heap of debt; others can spend years priced out of financial credit by poverty and discrimination. Now, however, the city is allocating a little seed capital toward the long-overlooked economic potential of poor immigrant communities.

NSA Successfully Figured Out How to Tap Into VISA’s ‘Complex Transaction Network’

By: Sunday September 15, 2013 12:00 pm

While The Guardian has published the most scoops from former NSA contractor and whistleblower Edward Snowden, the German newspaper, Der Spiegel, has posted its share of revelations from documents Snowden took with him from the NSA. The latest story shows the NSA managed to figure out how to infiltrate and search records of international VISA credit card customers.

FDL Book Salon Welcomes Charles Ferguson, Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America

By: Saturday June 23, 2012 1:59 pm

Charles Ferguson is a former Clinton Administration policy consultant and Brookings Institution senior fellow with a lifetime membership in the Council on Foreign Relations and a political science PhD from MIT. What enabled a guy with such impeccable establishment bona fides to make a documentary as comprehensively censorious of The System as Inside Job, the Academy Award-winning 2010 documentary about How It All Went To Hell is, I suspect in part, because he has also done considerable time in Silicon Valley, having founded the company that developed the web software Front Page before selling out to try his hand at filmmaking.

Bankers Are Still Wrecking Housing Market Fundamentals

By: Sunday April 29, 2012 5:20 pm

Regardless of the recent bullish stories on the housing market, housing market fundamentals are lousy. Demand in the last decade was wildly distorted by banker abandonment of underwriting and appraisals. Now bankers are worsening the crash they created. As a result, prices will just keep falling, and foreclosures cannot lead to clearing the market (regardless of what some say). Foreclosures can only make the problems worse.

Lakeside Diner

By: Friday February 3, 2012 4:45 am

A variety of links to articles/interviews on current topics that may be of interest.

Lakeside Diner

By: Friday January 13, 2012 4:45 am

A variety of links to articles/interviews on current topics that may be of interest.

The FDIC is Looking Forward to a Very Busy New Year

By: Saturday December 19, 2009 9:00 am

If you are looking for a job in the field of banking regulation and oversight, Uncle Sam wants you. They just announced they will be hiring 1600 new employees and are practically doubling their Receivership budget for next year.

It sure doesn’t look like Sheila Bair thinks things in the banking world have hit bottom yet. 2010 is going to be a very busy year for the FDIC.

The New SWIFT Data Sharing Agreement

By: Sunday December 6, 2009 4:00 pm

Last night I went to bed before I looked at the new SWIFT Agreement giving the US access to all of Europe’s finance data to track for terrorists. Here’s that agreement and here’s a Q&A document about what the agreement does. The agreement is instructive both for what it suggests about the negotiations between the US and EU, but also for what it suggests about the protections the US is willing to grant citizens of other countries that it is not extending to its own citizens.

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