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Keyword: banking

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  • Schakowsky Ire as Phony as Kited Checks

    10/18/2016 9:57:45 PM PDT · by PBRCat · 13 replies
    Chicago Tribune ^ | April 7, 2006 | John Kass
    Every time Democratic U.S. Rep. Jan Schakowsky mentions "Republicans" and "scandal" and "accountability," she'll be sticking her husband's foot in her mouth. The foot I'm talking about belongs to her spousal unit, Robert Creamer, the noted champion of the poor and the downtrodden and Democratic political organizer. Creamer's judge was U.S. District Court Judge James Moran, the former Democratic state legislator from Evanston. Moran's son-in-law is Democratic political consultant Peter Giangreco, who has worked politics with Creamer and Schakowsky and had a seat on the board of one of Creamer's many organizations. Judge Moran says he thought about recusing himself...
  • Bank accounts of Russian state broadcaster Russia Today frozen in UK; All of RBS cut off to RT

    10/17/2016 8:46:42 AM PDT · by Enlightened1 · 26 replies
    RT ^ | 10/17/16
    RT UK’s bank accounts have been blocked, RT’s editor-in-chief reported. The National Westminster Bank has informed RT UK that it will no longer have the broadcaster among its clients. The bank provided no explanation for the decision. “We have recently undertaken a review of your banking arrangements with us and reached the conclusion that we will no longer provide these facilities,” NatWest said in a letter to RT’s London office. The bank said that the entire Royal Bank of Scotland Group, of which NatWest is part of, would refuse to service RT. More in link Bank accounts of Russian state...
  • US goes after more than $1B taken from Malaysian fund

    07/20/2016 5:49:59 PM PDT · by blueplum · 14 replies
    Associated Press ^ | 20 July 2014 6:24PM EDT | Eric Tucker with Eileen Ng
    WASHINGTON (AP) -- The United States moved Wednesday to recover more than $1 billion that federal officials say was stolen from a Malaysian economic development fund and that was used for high-end real estate, fancy artwork and production of the Hollywood film, "The Wolf of Wall Street." The diverted funds paid for luxury properties in New York and California, a $35 million private jet and expensive paintings by Vincent Van Gogh and Claude Monet, according to federal government complaints that demand the recovery and forfeiture of the ill-gotten assets. The complaints, filed in Los Angeles, allege a complex money laundering...
  • Terror suspect named as 'enemy combatant'

    06/23/2003 10:25:43 PM PDT · by JohnHuang2 · 20 replies · 1,665+ views
    Washington Times ^ | Tuesday, June 24, 2003 | Jerry Seper
    <p>A Qatar native held on charges of lying to the FBI in an investigation into the September 11 attacks was designated yesterday as an "enemy combatant" and could be tried before a military tribunal for helping al Qaeda operatives relocate in the United States. Ali Saleh Kahlah Al-Marri, 37, in Justice Department custody since late 2001, was given the new designation by President Bush and handed over to the Defense Department.</p>
  • Bank of America has a recession warning that's downright 'scary' (Wall St & MSM pivot on Hillary)

    10/10/2016 12:56:12 PM PDT · by MarchonDC09122009 · 57 replies
    Yahoo Finance ^ | 10/09/2016 | Stephanie Landsman
    <p>Bank of America has a recession warning that's downright 'scary'</p> <p>There's a chilling trend in the market, and it could wreak havoc on your portfolio, a top market watcher said.</p> <p>"We are seven years into a full-fledged, all out, central bankers doing everything they can to stimulate demand," Bank of America-Merrill Lynch's head of U.S. equity and quantitative strategy Savita Subramanian recently warned on CNBC's " Fast Money ."</p>
  • IMF says global debt tops $152 trillion, urges some to spend more

    10/06/2016 7:22:45 PM PDT · by Lorianne · 6 replies
    Reuters ^ | 05 October 2016 | David Lawder
    The world is swimming in a record $152 trillion in debt, the IMF said on Wednesday, even as the institution encourages some countries to spend more to boost flagging growth if they can afford it. Global debt, both public and private, reached 225 percent of global economic output last year, up from about 200 percent in 2002, the IMF said in its new Fiscal Monitor report. The IMF said about two thirds of the 2015 total, or about $100 billion, is owed by private sector borrowers, and noted that rapid increases in private debt often lead to financial crises. While...
  • IMF, global finance leaders fret over populist backlash

    10/06/2016 7:26:01 PM PDT · by Lorianne · 7 replies
    Reuters ^ | 06 October 2016 | David Lawder
    World finance leaders on Thursday decried a growing populist backlash against globalization and pledged to take steps to ensure trade and economic integration benefited more people currently left behind. Their comments at the start of the International Monetary Fund and World Bank fall meetings signaled frustration with persistently low growth rates and the surge of public anger over free trade and other pillars of the global economic system. The meetings are the first since Britain voted in June to leave the European Union and U.S. billionaire Donald Trump secured the Republican presidential nomination with a campaign that attacked trade deals....
  • Deutsche Bank Is Probably Insolvent

    10/05/2016 10:32:51 AM PDT · by Lorianne · 20 replies
    GoldCore ^ | 04 October 2016 | Mark O'Byrne, Tim Price
    This is getting to be a habit. Previous late summer holidays by this correspondent coincided with the run on Northern Rock, and subsequently with the failure of Lehman Brothers. So the final crawl towards the probable nationalisation of Deutsche Bank came as no particular surprise this year, but it is tiresome to relate nevertheless. The 2015 annual report for Deutsche Bank runs to some 448 pages, so one rather doubts if even its CEO, John Cryan, has read it all, or has a complete grasp of, for example, its 42 trillion in total notional derivatives exposure. Is Deutsche Bank technically...
  • Germanys Deutsche Bank, Again in Trouble, Received a U.S. Bailout Twice as Big as Lehman Brothers

    10/05/2016 10:29:33 AM PDT · by Lorianne · 48 replies
    Wall Street on Parage ^ | 03 October 2016 | Pam Martens and Russ Martens
    The gyrations in Deutsche Banks shares last week together with a June report from the International Monetary Fund indicating that the bank was the most important net contributor to systemic risks has cast a trading pall over all of the global banks. Against that backdrop, most Americans would be stunned to learn that the German Deutsche Bank, which perpetually finds itself on the wrong side of the law, was bailed out in five separate U.S. emergency lending operations during the 2007-2010 financial crisis, receiving more than twice the emergency financial assistance as that received by Lehman Brothers, the failed U.S....
  • Heat Rises on Wells Fargo CEO After Lawmaker Grilling

    10/03/2016 5:51:51 AM PDT · by upchuck · 10 replies
    Newsmax ^ | Sep 21, 2016
    ... The white-haired, 63-year-old CEO repeatedly told a congressional panel that he had to check with staff, lacked information or was not an "expert" on a range of topics including executive compensation, credit scores and contracts that must be signed to open an account. Earlier this month, the lender agreed to pay $190 million in penalties and customer payouts to settle the case involving the creation of credit, savings and other accounts without customers' knowledge. About $5 million will directly go to customers, many of whom might have paid a small fee on the unwanted accounts. His responses gave plenty...
  • Stealth Bailout of 2 Franken-Banks Now Happening in Spain

    10/02/2016 7:39:51 PM PDT · by Lorianne · 2 replies
    Wolf Street ^ | October 1, 2016 | Don Quijones
    Obscured somewhat by the spectacular antics of Deutsche Bank, there appears to be another bailout of two of Spains franken-banks: mostly state-owned Bankia and wholly state-owned Banco Mare Nostrum (BMN). The news was released so quietly that even in Spain barely a living soul is aware its happening. For the moment, BMN is completely state-owned, after its four constituent state-owned parts Caja Murcia, Caixa Peneds, Caja Granada y Sa Nostra were rescued by Spains taxpayers and lumped together for the modest price of 1.6 billion in 2010. But by the end of this year all that was supposed...
  • Its not just Deutsche. European banking is utterly broken

    10/02/2016 7:43:28 PM PDT · by Lorianne · 25 replies
    Telegraph (UK) ^ | 01 October 2016 | Jeremy Warner
    Todays mayhem is not so much the result of reckless bankers and asleep at the wheel regulators, but rather of the public policy response to the last crisis itself that is to say, regulatory over-reach and central bank money printing. All eyes are naturally focused on the specific problems of Deutsche Bank, but Deutsche is in truth no more than the canary in the coal mine. As Tidjane Thiam, chief executive of Credit Suisse, observed last week, as an entire sector, European banks are still not really investable. Much the same disease as afflicts Continental banks also applies to...
  • Moodys downgrades French Banks -- SocGen, Credit Agricole (BNP Paribas Under Review)

    09/14/2011 6:39:23 AM PDT · by SeekAndFind · 2 replies
    Marketwatch ^ | 09/14/2011 | Simon Kennedy
    Moodys Investors Service on Wednesday downgraded French banks Credit Agricole SA and Societe Generale SA as the credit-rating company also said it has become increasingly concerned about the funding and liquidity needs of the lenders. Moodys had said in June that it was considering downgrading Frances top three listed banks because of their exposure to Greek debt and said Wednesday that it is still reviewing BNP Paribas. The announcements came after big swings for French-bank stocks in recent days amid reports that downgrades were imminent and as investors became increasingly nervous about the banks funding situation. Shares in Credit Agricole...
  • U.S.: Wells Fargo illegally repossessed 413 service members' cars

    09/29/2016 11:07:10 PM PDT · by Enterprise · 29 replies ^ | September 29, 2016 | Jackie Wattles
    Wells Fargo will pay $24 million to settle allegations that it mistreated members of the military -- including illegally repossessing their cars. The bank, already reeling from a scandal over fake accounts, will pay $4.1 million to settle Justice Department charges that it seized 413 cars owned by service members without a court order, a violation of federal law. The Justice Department said the illegal repossessions took place from 2008 to 2015. The first complaint came from an Army National Guardsman in North Carolina who said the bank seized his car while he was preparing to deploy to Afghanistan. Wells...
  • Hedge Funds Pull Business From Deutsche Bank

    09/29/2016 7:40:50 PM PDT · by drewh · 12 replies
    The Financial Times of London ^ | James Shotter in Berlin, Martin Arnold and Laura Noonan in London | 6 HOURS AGO by: James Shotter in Berlin, Martin Arnold and Laura Noonan in London
    Hedge funds have started to pull some of their business from Deutsche Bank, setting up a potential showdown with German authorities over the future of the countrys largest lender. As its shares fell sharply in New York trading, Deutsche recirculated a statement emphasising its strong financial position. European regulators and government officials have kept a low profile in public over Deutsches deepening woes. However, in private they have struck a sanguine tone, stressing that in extremis there is scope under European regulation to inject state funds to support the bank, provided it is done in line with market conditions. Marcel...
  • Pressure is building for Germany to show it's ready to rescue Deutsche Bank

    09/29/2016 3:56:36 PM PDT · by SkyPilot · 38 replies
    CNBC ^ | 29 Sep 16 | Jef Cox
    German officials could be about to find themselves in an uncomfortable position: Being called on to show they're ready to rescue a bank in a part of the world where such operations are considered taboo. Deutsche Bank came under intensified market fire Thursday, the latest salvo being a Bloomberg report that a small number of hedge funds are trimming their sails at the German bank. In a broad perspective, the move would represent a minor dent in Deutsche's derivatives clearing business. Barry Bausano, chairman of Deutsche's hedge fund business, told CNBC on Thursday that while there have been some outflows,...
  • PANIC As Margin Calls Begin: Deutsche Bank Has Financial System On The Cusp Of Collapse

    09/29/2016 4:35:35 PM PDT · by The Bat Ladys Husband · 99 replies
    Silver ^ | 09/29/2016 | The Bat Ladys Husband
    DB stock is now in a full panic sell-off as I write this. It just hit another new all-time NYSE low on by the heaviest volume ever in the stock since its 2001 NYSE listing. Its currently down almost 10%. No doubt the Central Banks will try to bounce it.
  • Deutsche Bank can only be saved by the German government, strategist says

    09/29/2016 9:28:44 AM PDT · by TigerLikesRooster · 33 replies
    CNBC ^ | 2016/09/29 | Matt Clinch
    Deutsche Bank can only be saved by the German government, strategist says Matt Clinch | @mattclinch81 Only a substantial intervention by the German government can stop the collapse of the country's largest lender, Deutsche Bank, according to Stefan Mller, the CEO of Frankfurt-based boutique research company DGAW. "Deutsche Bank doesn't realize that something serious needs to happen," he told CNBC via telephone on Thursday morning. "(CEO John) Cryan clearly showed that he has no idea how to survive." The embattled German lender saw a respite on Wednesday from hefty selling seen in previous sessions amid contradictory reports on whether the...
  • Dow sheds 200 points as bank stocks fall sharply ( Markets unhappy with Machado porn queen story)

    09/29/2016 11:08:59 AM PDT · by GilGil · 43 replies
    CNBC ^ | 9/29/2016 | Fred Imbert
    Full title: Dow sheds 200 points as bank stocks fall sharply; Deutsche Bank tumbles 8% U.S. stocks traded sharply lower on Thursday after banking stocks fell sharply. The three major indexes hit session lows shortly after Bloomberg reported that approximately 10 hedge funds were reducing their exposure to embattled European bank Deutsche Bank. Deutsche shares fell 8 percent in afternoon trade.
  • Commerzbank set to cut 9,000 jobs, dividend in revamp [Germany]

    09/28/2016 9:29:16 PM PDT · by Lorianne · 1 replies
    RTE ^ | 27 September 2016
    Commerzbank aims to cut around 9,000 jobs in the next few years and will scrap its 2016 dividend as part of efforts to reduce costs in the face of negative interest rates. This is according to a source close to the bank's supervisory board. The job cuts will be spread over the next few years up to 2020, but the size of the cull, representing nearly a fifth of the workforce at Germany's second biggest bank, implies that compulsory layoffs cannot be ruled out, the person said. "This is much more radical than previous measures," the person said. The revamp...
  • "Deutsche Bank May Ultimately Need A State Bailout" - Handelsblatt

    09/23/2016 10:20:22 AM PDT · by Lorianne · 4 replies
    Zero Hedge ^ | 21 September 2016 | Tyler Durden
    While the most recent set of troubles plaguing Deutsche Bank have been duly documented here, most recently yesterday when the stock price tumbled once again just shy of all time lows over fears the bank's multi-billion DOJ settlement could severely impact its liquidity and/or solvency, this may be the first time we have heard the "n"-word tossed around in an official German publication: as Germany's top financial newspaper, Handelsblatt said, "German financial officials reacted with shock and dismay to the leaking of a U.S. government demand for a $14 billion fine against Deutsche Bank, which may ultimately need a state...

    09/21/2016 9:05:33 AM PDT · by Sean_Anthony · 52 replies
    Canada Free Press ^ | 09/21/16 | Jeffrey A. Friedberg
    Can you say, George Soros? Does this remind anyone of Soros breaking the Bank of England? Jeffrey A. Friedberg image By Jeffrey A. Friedberg Bio and Archives September 21, 2016 1 Comment | Print Friendly | Subscribe | Email Us At the last Mixer of the International Jewish Conspiracy, I was asked, Heywho the hell are the Rothschilds? They are a dynastic, secretive, influential, world-wide, business family of interbred Jews. As a conglomerate with hidden assets, they are said to be worth as much as $1 TRILLION, and major players in global finance and intrigue. For centuries they have...
  • Warren Buffett buys more Wells Fargo stock on a dip [Hillary supporter is its largest stockholder!]

    09/20/2016 11:29:45 AM PDT · by SoFloFreeper · 10 replies
    Market Watch ^ | 3.29.2016
    Warren Buffett showed that the selloff in Wells Fargo & Co.s stock this year has just made him love the banking giant even more, as he boosted his stake in the company to 504.3 million shares, according to regulatory filings. Buffetts investment vehicle Berkshire Hathaway Inc. BRK.B, +0.01% now owns 10% of Wells Fargos common stock outstanding, making him by far the largest shareholder. That is up from 479.7 million shares, or a 9.45% stake, as of Dec. 31, filings show.
  • Elizabeth Warren's epic takedown of Wells Fargo CEO

    09/20/2016 11:07:57 AM PDT · by um1990 · 82 replies
    CNN Money ^ | 09/20/2016 | Matt Egan
    Elizabeth Warren unleashed a verbal barrage at Wells Fargo CEO John Stumpf on Tuesday, calling the embattled bank boss "gutless" and demanding he step down. "You should resign...You should be criminally investigated," Warren told Stumpf during a fiery one-sided exchange at the Senate Banking Committee's Wells Fargo hearing. Warren, a vocal critic of big banks like Wells Fargo, demanded both the Department of Justice and SEC criminally investigate Stumpf for his "gutless leadership." Last week, a U.S. official told CNN that the DOJ has issued subpoenas to Wells Fargo.
  • China facing full-blown banking crisis, world's top financial watchdog warns

    09/19/2016 5:34:29 AM PDT · by drop 50 and fire for effect · 12 replies
    The Telegraph (UK) ^ | 19 September 2016 | Ambrose Evans-Pritchard
    China has failed to curb excesses in its credit system and faces mounting risks of a full-blown banking crisis, according to early warning indicators released by the worlds top financial watchdog. A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate, despite pledges by Chinese premier Li Keqiang to wean the economy off debt-driven growth before it is too late. The Bank for International Settlements warned in its quarterly report that Chinas "credit to GDP gap" has reached 30.1, the highest to date and in a different league altogether from any...
  • Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million

    09/14/2016 11:16:39 AM PDT · by Wolfie · 15 replies
    Fortune ^ | Sept. 12, 2016
    Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million Wells Fargo & Cos sandbagger-in-chief is leaving the giant bank with an enormous pay day$124.6 million. In fact, despite beefed-up clawback provisions instituted by the bank shortly after the financial crisis, and the recent revelations of massive misconduct, it does not appear that Wells Fargo is requiring its former consumer banking chief Carrie Tolstedt to give back any of her nine-figure pay. Until recently, Tolstedt was in charge of the unit where Wells Fargo employees opened more than 2 million largely unauthorized customer accountsa seemingly routine practice that employees...
  • 5,300 Wells Fargo employees fired for creating over 2 million phony accounts

    09/08/2016 1:14:35 PM PDT · by Red Badger · 136 replies ^ | September 8, 2016: 3:52 PM ET | by Matt Egan
    <p>Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn't even sign up for.</p> <p>That's exactly what happened to Wells Fargo customers nationwide.</p> <p>On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts -- without their customers knowing it -- since 2011.</p>
  • The Fed may be preparing for the unthinkable negative interest rates in America

    09/04/2016 12:30:58 AM PDT · by SaveFerris · 194 replies
    Yahooooo ^ | 12 hours ago | John Mauldin, Yahoo Finance Contributor
    Negative interest rates are spreading like a virus. Central banks in the Eurozone, Switzerland, Sweden, and Japan all have below-zero policy rates. NIRP, as economists call a negative interest rate policy, is a desperation movebut the only move those central banks have. The Federal Reserve hasnt followedyet. When the next recession strikes, I believe Janet Yellen will choose to break the zero lower bound. The rationale was laid out in Jackson Hole. Look behind the headlines and youll see the Fed already preparing for NIRP. In theory, negative rates should encourage consumers and businesses to spend more freely and stimulate...
  • ECB Board Member Lashes Out At Central Banking: Ignore "Mathematical Models", Focus On Reality

    09/04/2016 10:18:32 AM PDT · by amorphous · 7 replies
    Zero Hedge ^ | 4 Sep 2016 | Tyler Durden
    At first (literally the day the Fed announced QE1) it was just "tinfoil fringe blogs" who predicted the failure of the central bank's attempt to boost the economy by printing money, instead warning that all the Fed would do is unleash an unprecedented income and wealth divide that may culminate in civil war and hyperinflation. Then, gradually, analysts, pundits and even the mainstream press admitted the truth, i.e., that tin-foilers were right all along, until recently even the Fed's own mouthpiece, Jon Hilsenrath, one day before the Jackson Hole meeting wrote that "Years of Fed Missteps Fueled Disillusion With the...
  • VISA to Test Blockchain Payments among Banks; a SWIFT Rival?

    09/01/2016 8:51:37 AM PDT · by amorphous · 1 replies
    Cryptocoin News ^ | 1 Sept 2016 | Samburaj Das
    VISA and blockchain-technology partner BTL will invite a select group of European banks to participate in a blockchain project that will see inter-bank payments made via transfers over the ledger. Hot on the heels of the likes of R3, Visa will experiment its own blockchain-based payments platform with a select group of banks who will send money over a blockchain. The proof-of-concept project will use Interbit, a cross-border blockchain remittance and settlement platform developed by industry startup BTL. Launched earlier this year, the Interbit platform is seen by Visa as the solution to reduce cost, settlement time, credit risk, and...
  • Banks are preparing for an economic nuclear winter

    08/30/2016 7:47:57 AM PDT · by Lorianne · 59 replies
    CNBC ^ | 29 August 2016 | Spriha Srivastava
    The first half of 2016 has been a roller-coaster for financial markets. A combination of uncertainties surrounding the U.K.'s vote to leave the European Union and weaker-than-expected corporate earnings results across the region means a tough second half looms. European banks, in particular, have had a very tough six months as the shock and volatility around Brexit sent banking stocks south. Major European banks like Deutsche Bank and Credit Suisse saw their shares in free-fall after the referendum's results were announced. In the U.K., RBS was the worst-hit, with its shares plunging by more than 30 percent since June 24....
  • German Savers Lose Faith in Banks, Stash Cash at Home

    08/29/2016 4:47:59 PM PDT · by ameribbean expat · 25 replies
    HAMBURGGerman savers are leaving the security of savings banks for what many now consider an even safer place to park their cash: home safes.
  • Vice Chairman Of Lotte Hangs Himself Hours Before Criminal Probe

    08/26/2016 9:37:23 AM PDT · by Nachum · 16 replies
    Zero Hedge ^ | 8/26/16 | Tyler Durden
    The past several years have seen a surprising spike in professional suicides, mostly confined to the banking sector in general and Deutsche Bank in particular. Overnight this tragic group expanded into multinational corporation sector, after one the top executives at South Korea's multinational conglomerate Lotte Group was found dead on Friday, in what is a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the country's fifth-largest conglomerate. Lee, who was 69, had been scheduled to appear before prosecutors on Friday morning, a Lotte official said. Lotte Group confirmed the death of Vice...
  • Frankfurt attempts to charm banks away from London

    08/24/2016 12:43:44 AM PDT · by Olog-hai · 4 replies ^ | 24 Aug 2016 08:54 GMT+02:00 | AFP
    The marketing team of Frankfurt never expected its English-language dummy website to attract new businesses would actually go live after Britains European Union referendum. We hadnt really assumed that we would need the site at all, spokeswoman Michaela Kahle told AFP, as the team thought Britons would surely vote Remain. But as it turned out, the Welcome to FrankfurtRheinMain site was not only put to good use, but has become a hit, with 27,000 views since Britain stunned the world by deciding to leave the bloc. Quickly recovering from the shock, Kahle and her colleagues kicked into action, fielding inquiries...
  • Central Banks Now Selling US Debt at Record Pace

    08/18/2016 11:12:36 AM PDT · by milton23 · 16 replies
    Daily Signal ^ | 8/18/16 | William T. Wilson
    In the first six months of 2016, foreign central banks sold a net $192 billion of U.S. Treasury bills, notes, and bonds. This is more than double the pace from the same time last year. China, Japan, and Brazil were the leaders in selling U.S. debt. With the U.S. debt running at approximately $19.4 trillion, this could be problematic. A large selloff of U.S. bonds would decrease their price, or in other worlds, increase domestic interest rates in general (bond prices and interest rates always move in the opposite direction).
  • Wells Fargo Tells Knives Dealer It Doesnt Provide Service to Businesses That Sell Weapons Online

    08/10/2016 4:12:09 PM PDT · by bkopto · 61 replies
    Daily Signal ^ | Aug 10, 2016 | Kelsey Harkness
    A major knives manufacturer from central California says his company was denied access to an internet payment processing service because they sell weapons online, raising questions about whether an anti-fraud program called Operation Choke Point is continuing to block legal businesses in the firearms and weapons industries from accessing basic banking services. It was pretty simple and straightforward, Aaron Hogue, co-owner of Hogue Inc., said of the situation he faced with Wells Fargo bank. They called my controller, and said, Sorry, but were not going to be able to process any credit card transactions for the sale of weapons online....
  • We should nationalise German banks' Warning Deutsche Bank teetering on edge of CRISIS

    08/09/2016 7:06:46 PM PDT · by MarchonDC09122009 · 17 replies
    UK Express ^ | 08/09/2016 | SIMON OSBORNE 'We should nationalise German banks' Warning Deutsche Bank teetering on edge ofCRISIS A TOP economist has warned that Germany's biggest bank is teetering on the edge of crisis and they only way to protect it against future shocks is to nationalise it. By SIMON OSBORNE 20:03, Tue, Aug 9, 2016 | UPDATED: 21:00, Tue, Aug 9, 2016 Germany central bank, the Deutsche Bank, would be hit hard in a new financial crisis Martin Hellwig said stress tests carried out by the European Central Bank revealed the Deutsche Bank would be left in a precarious position in the event of...
  • No clean bill of health for EU banks in stress test

    07/30/2016 10:54:11 AM PDT · by Olog-hai · 8 replies
    Reuters ^ | Fri Jul 29, 2016 6:03pm EDT | Huw Jones and Andrew MacAskill
    Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the regions banking watchdog said on Friday showed there was still work to do in order to boost credit to the blocs economy. Eight years since the collapse of Lehman Brothers sparked a global banking meltdown, many of Europes banks are still saddled with billions of euros in poorly performing loans, crimping their ability to lend and putting off investors. While a number of individual banks have clearly fared badly, the overall finding of the European Banking Authority that Europes banks are...
  • Man Finds $32,000 CD, But Bank Won't Cash It

    07/27/2016 9:33:25 PM PDT · by nickcarraway · 66 replies
    NBC Bay Area ^ | 7/27/16 | Chrs Chmura, Christine Roher, Joe Rojas and Carrie McParland
    Craig Haskell says his grandmother saved everything. So, even though she died in 1998, he just recently found something of hers in a safe deposit box: a certificate of deposit from 1997. "I just took it out and I looked at it and said, 'Oh my god. Thats $32,000,'" he explained. The paper reads $32,308.97, to be exact, with Haskell's name on it. But when he tried to cash the CD, Wells Fargo denied him. "Shes gone now; I have the death certificate to prove it," Haskell said. "My names on the check. And Wells Fargo cant tell me what...
  • Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton's VP

    07/24/2016 6:58:21 AM PDT · by Zakeet · 16 replies
    Huffington Post ^ | July 20, 2016 | Zach Carter
    Sen. Tim Kaine (D-Va.) is on Hillary Clinton’s short list of potential vice presidential nominees. He’s also actively pushing bank deregulation this week as he campaigns for the job. Kaine signed two letters on Monday urging federal regulators to go easy on banks ― one to help big banks dodge risk management rules, and another to help small banks avoid consumer protection standards. Presumptive Democratic presidential nominee Hillary Clinton's ... pick is widely viewed in Washington as a sign of her governing intentions.
  • Hillary Clinton's Top VP Pick Lets Big Banks Know He's in Their Corner

    07/22/2016 5:54:23 AM PDT · by HomerBohn · 13 replies
    Leg Room ^ | 7/22/2016 | Dierdre Fulton
    (Sen. Tim Kaine is reportedly Bill Clinton's favorite for the VP slot. (Photo: US Department of Education/flickr/cc) Sounding another alarm for progressives wary of the Democratic establishment's support for Wall Street, the man said to be leading the pack of potential Hillary Clinton running mates—Virginia Sen. Tim Kaine—has just this week sent a clear message to big banks: He's in their corner. Kaine, who is reportedly Bill Clinton's favorite for the vice presidential slot, signed onto two letters on Monday pushing for financial deregulation—letters that show the Clinton camp "how Kaine could be an asset with banking interests on...
  • GOP Whiffs On Bank Reform, Big Time

    07/22/2016 4:07:28 AM PDT · by expat_panama · 70 replies
    Investors Business Daily ^ | July 21, 2016 | Editorial
    Financial Crisis: The Republican platform put forward in Cleveland is a lively and conservative document, full of great ideas to make America great again. But one thing stands out as a truly bad idea: reviving the partly-repealed Glass-Steagall Act. "We support reinstating the Glass-Steagall Act, which prohibits commercial banks from engaging in high risk activities," says the platform document. What? It was one of the Democrats' big talking points during the 2007-2008 financial crisis and after that a major cause of the panic was due to Bill Clinton in 1999 foolishly going along with the Republicans to get rid of...
  • 120 Years Ago Today: BANKS GIVE UP GOLD - Pledge to Contribute $15 Million to the Treasury

    07/21/2016 12:32:31 PM PDT · by NRx · 13 replies
    Library of Congress ^ | 07-21-2016 | New York Tribune
    A (mostly) daily posting for those interested in history and the day to day news, politics and culture of a bygone world. The full edition of the New York Tribune from Tuesday July 21, 1896 (digitized). Some other headlines from today's paper... VENEZUELA MAKES RELY: An Elaborate Brief Filed with the Boundary Commission| THREATS OF LYNCHING: A Brooklyn Prisoner Kept in Police Station for Protection| LOUD THREATS OF BOLTING - WAR CLOUDS OVER ST. LOUIS: Populists Divided Over Bryan Into Hostile Camps
  • In surprise, GOP looks to revive Depression-era banking law (Glass-Steagall)

    07/20/2016 4:23:23 PM PDT · by Olog-hai · 59 replies
    Associated Press ^ | Jul 20, 2016 3:59 PM EDT | Ken Sweet
    The Republican Party has taken a page straight out of the campaign books of Bernie Sanders and Elizabeth Warren. What? No, were not kidding. In the partys 2016 platform, the GOP advocates for reinstating the Glass-Steagall Act, a Depression-era law that regulated the U.S. banking industry until it was repealed in 1999. Bringing the law back would lead to the breakup of major U.S. banks like JPMorgan Chase in order to separate investment banking from commercial banking.
  • G.O.P. Joins Democrats Urging Glass-Steagalls Revival. (Dont Hold Your Breath.)

    07/20/2016 4:20:02 AM PDT · by expat_panama · 53 replies
    New York Times ^ | JULY 19, 2016 | JEFF SOMMER
    Attacking big banks is as American as apple pie. But its a new entry on this years Republican menu. In a convention surprise, the Republicans inserted a plank in the party platform calling for the restoration of a Depression-era law, the Glass-Steagall Act, that separated commercial and investment banking. The law was repealed in 1999 during the Clinton administration, with bipartisan support, at the behest of the big banks, which said they needed to combine their investment and commercial functions in order to compete on the global stage. It didnt turn out so well, of course... ...What the Republican Party...
  • Comey / Clonton HSBC Money (vanity)

    07/12/2016 10:18:01 AM PDT · by TigerClaws · 17 replies
    Comey was an HSBC board member. HSBC funneled $81 million to Clinton Foundation Close the donation page and read the hence links. Should Comey have recused himself?
  • FBI Director Comey is a board member of Clinton Foundation connected bank HSBC.

    07/12/2016 11:09:43 AM PDT · by blueyon · 132 replies ^ | 7/12/16 | IWB
    It seems that our beloved FBI Director is or until very recently was a director and board member of HSBC, which is tightly connected to the Clinton Foundation. Check out some of these links:
  • Citibank: Were Nearing A Bull Market For Oil

    07/12/2016 10:01:52 AM PDT · by bananaman22 · 8 replies ^ | 12-07-2016 | Citi
    Citigroup is especially bullish on commodities in 2017, the bank says. The oil market is treading water for now, but the oil price overshot to the downside earlier this year and this is clearly setting the stage for a bullish end to the decade, Citi analysts, led by Ed Morse, wrote in a research note published on July 11. There is a quite a bit of volatility in commodity markets, especially for oil, but global demand continues to grow at a steady pace. Prices have crashed on oversupply, but with oil production going offline, particularly in the U.S., the markets...
  • Surprise! Most Corrupt Bankster in U.S. Endorses Hillary Clinton

    06/27/2016 9:23:00 AM PDT · by all the best · 16 replies ^ | June 27, 2016 | Thomas DiLorenzo
    Its hard to imagine a better endorsement of Donald Trumps economic policies whatever they may be, whenever he finds the time to explain them than the recent endorsement of Hillary Clinton by former Goldman Sachs CEO and U.S. Treasury Secretary Hank Paulson. As the man in charge of the biggest explosion of corporate welfare in world history the TARP bailouts, he defined himself as a sworn enemy of capitalism and a socialist when it comes to the capital markets. Socializing billions of dollars in investment bank, insurance company, and automobile industry losses with taxpayer dollars qualifies Paulson...
  • Pound Plummets To New Lows; British Banks Halted After Crashing

    06/27/2016 4:22:34 AM PDT · by Helicondelta · 43 replies ^ | June 27, 2016
    After a modestly stronger open, which saw sterling rebound to just under 1.35, the British currency has taken another sharp leg lower in recent trading tumbling another 3%, to a low of 1.3224 - taking out Friday's post-vote lows when the currency plunged over 8% - and dropping to fresh 31 year lows, as it remains under heavy selling pressure as of this moment.