banks
Michael Bloomberg: 'It Was Not the Banks That Created the Mortgage Crisis'
Jim Newell · 11/01/11 03:56PMMichael Bloomberg is yet again treating Wall Street protesters' gripes with his unique style of empathy, "utter dismissiveness." The billionaire, who can thank the robust growth of the financial services sector over the decades for his fortune, knows the truth! The banks did nothing wrong; it was all Fannie Mae, Freddie Mac and Congress forcing everyone else to give houses to poor people.
Jon Corzine's Spectacular Failure Just Got More Spectacular
John Cook · 11/01/11 11:43AMThere's no better argument against the privilege of wealth than Jon Corzine, the clownish former Goldman Sachs CEO who thought his facility for extracting money from a rigged financial game entitled him to run the state of New Jersey. After getting roundly rejected by voters after one term, he got a job from a friend running derivatives firm MF Global. Yesterday it went bankrupt. And today we learned that he's lost $700 million of his clients' money.
This Video of NYPD Arresting a Woman at Citibank Certainly Doesn't Look Good
Max Read · 10/16/11 08:48AMLet's not jump to conclusions about this video, which (at about a minute in) shows a woman dressed in a business suit, carrying her Citibank checkbook, trying to leave her bank only to be dragged back inside and arrested by a plainclothes NYPD officer.
Feel Like You Haven't Been Giving Enough Money to Citibank? You're in Luck!
John Cook · 10/05/11 02:07PMNot to be outdone by Bank of America's rank avarice, Citibank announced today that it's raising monthly fees for checking accounts—doubling them, in fact, for its mid-level option—and bumping up the minimum balances. They're basically looking at their customers, identifying the ones who have the least amount of money, and charging them more.
Everyone Loves Burning Banks
Hamilton Nolan · 09/13/11 10:10AMGoldman Sachs Hunts Down Its Elevator Tweeter
Maureen O'Connor · 08/26/11 01:54PMThe golden age of anonymous corporate elevator Twitter accounts is ending. It lasted about a week. After @CondeElevator closed down operations because "This got really crazy. Love my job," a series of knock-off elevator Twitter accounts launched. The only worthwhile one was @GSElevator, tweeting overheard conversations from Goldman Sachs branches the world around. According to Page Six, the company's notorious rigid management has "kicked off an internal probe" on the matter. After reportedly trying—and failing—to get Twitter to freeze the account, Goldman is now "investigating who is behind it. They believe it is an intern or a young gun, but there are enough facts on the feed for bosses to suspect it is someone with access inside the company."
All the Powerful People Really Hate New York AG Eric Schneiderman
Jim Newell · 08/24/11 04:27PMThings are going about as expected for New York Attorney General Eric Schneiderman when he decided to take on the full brunt of the White House and the largest megabanks in the country by trying to investigate the full load of their mortgage-related crimes over the past decade: Somewhat difficultly.
Citibank Accused of Murdering a Credit Card Deadbeat
Jeff Neumann · 08/17/11 05:33AMBank-Robbing Stripper and Brothers Caught After Car Chase, Gun Battle
Max Read · 08/10/11 06:26PMMeet 'Geovanni Kasanova,' the Bank Teller-Seducing Identity Thief
Max Read · 08/05/11 01:23AMWoman Robs Two Banks With Fake Beard, Fake Bomb
Max Read · 08/01/11 07:09PMMan's Skeleton Found in Chimney 27 Years After Disappearance
Max Read · 07/27/11 09:15PMBanks Still Casually Ruining Lives
Seth Abramovitch · 07/07/11 10:04PMPity of Pities: Goldman Sachs is Sending Jobs Overseas
Jim Newell · 06/28/11 03:32PMBe warned: You are going to be enraged when you hear this news, imbued with all the populist animalism you can muster and smashing crap all afternoon: Goldman Sachs is cutting some jobs in America and adding 1,000 people in Singapore. Are there even words to describe how much the average American will miss its favorite company?
Banks Lose in Washington's Most Heavily Lobbied Battle
Jim Newell · 06/08/11 02:43PMCouple Attempts to Seize Bank of America's Furniture, Computers
Max Read · 06/04/11 12:55PMFlorida homeowners Maurenn Nyergers and her husband paid for their home in cash, and never took out a mortgage, so when Bank of America filed foreclosure papers on the house, they took the bank to court, and won. And when Bank of America wouldn't pay their legal fees — as it was ordered to by the court — their attorney, Todd Allen, decided to seize its assets, in person, with movers and sheriff's deputies in tow.
How to Respond When a Congressman Calls You a Liar
Max Read · 05/24/11 08:22PMElizabeth Warren, the consumer advocate and Harvard professor who's heading up the brand-new Consumer Financial Protection Bureau in its infancy, stopped by the House of Representatives today for a hearing called — seriously — "Who's Watching the Watchmen?" It got kind of intense!
Beware of Barfly Banking Chaperones
Lauri Apple · 05/15/11 10:11AMGuess Who's Speaking Up on Behalf of the Poor Banking Industry?
Hamilton Nolan · 03/23/11 11:45AMYou may be aware that the banking industry is currently engaged in a furious lobbying campaign to avoid the frightening prospect of being forced to lower the fees it charges retailers every time you use your debit card to buy something. It would just put "unfair profits" into the pockets of retailers, while forcing banks to raise the fees they charge you, the consumer, for every last thing! (According to the banking industry.)