JP Morgan To Pay $13 Billion For Causing 2008 Financial Crisis

By: Monday October 21, 2013 9:50 am

The previous fines Wall Street banks have paid have been laughable. But a $13 billion fine would be more than half of JPMorgan’s profit last year. Serious money. Though apparently JPMorgan thinks it might have to pay even more for its wrongdoing.

 

Let bygones be bygones…or else

By: Friday October 11, 2013 1:30 am

Hard to believe big banksters feel immune from little things…like the law and ethics.

When the Mafia Has Better Customer Service Than You Do, You’ve Got a Problem

By: Saturday October 5, 2013 9:00 am

If the banks ran their operations more like the Mafia, the world might be a nicer place. As it is, though, the banks seem to have no problem with their foreclosure subcontractors breaking into the wrong home, or making a little extra on the side while they’re there.

But imagine how the Mafia would handle a situation like this . . .

Lloyd Blankfein Thanks You for Being Unemployed

By: Sunday September 29, 2013 10:45 am

I’d forgotten what a loathsome human Lloyd Blankfein is, but he opened his yap and reminded me.

It’s “Talk like a Pirate Day” — but which set of Pirates?

By: Thursday September 19, 2013 5:42 pm

The days of pirates sailing the Spanish Main are long in the past. No more sacking of Cartagena. No, today’s “pirates” wear business suits and do their sailing on Wall St. Just today, we have reports that JPMorgan Chase is paying a $920M fine for the “London Whale Fail” trading losses. Amazingly enough, JP Morgan is even admitting “fault”.

Oh the Oppression! Oh the Tyranny! Oh the doG-awful Whining With No Reason!

By: Sunday September 15, 2013 4:00 pm

Oh those oppressed Titans of Wall St and Masters of the Universe! They are so oppressed, just like the Fundamentalist Christians and straight white men, they never get things their way. Why, they just might have to go on Food Stamps after they pay their taxes in a DiBlasio administration.

FDL Book Salon Welcomes Ellen Brown, The Public Bank Solution: From Austerity to Prosperity

By: Saturday September 14, 2013 1:59 pm

Here’s the core of her argument. Because banks create most of our money, they control the very essence of the economy. To regain control of our economic well-being we need public banks that make investments in the public goods, services and jobs that we all need. Public banks can do all that without running up the national debt or raising taxes. Public banks, like private banks, fund investments. But, as Ellen writes:

“The difference is that a publicly-owned bank returns the interest to the government and the community, while a privately-owned bank siphons it into private accounts, progressively drawing money out of the productive economy.”

Bank Chairman Admits to Using Bailout Money to Buy Condo in Florida

By: Wednesday August 28, 2013 7:30 am

Originally devised to help finance public interest projects the corporate form of organization has become an excellent way for powerful interests to externalize their costs onto society while snatching tax benefits. In fact, over one-third of the nation’s highest-paid CEOs from the last twenty years led companies that were subsidized by American taxpayers. Another fact that blows away the meritocracy argument.

Barrett Brown, Glenn Greenwald, and the Mafia State

By: Tuesday August 20, 2013 1:55 pm

Many were shocked by the nastiness of the British government – with America’s approval – holding Glenn Greenwald’s partner under an anti-Terrorism law for nine hours during which time they interrogated him and stole his property.

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