Skip

75 posts tagged with bank.
Displaying 1 through 50 of 75. Subscribe:

Re-Thinking the Game of Monopoly

K. Mike Merrill at BigThink has some ideas on how to modernize Monopoly while helping players better understand the nature of our financial system.
posted by reenum on May 17, 2014 - 39 comments

Chase declares war on porn

Various outlets are reporting that, over the past month, Chase Bank has sent out letters to American porn actors that their Chase accounts will be closed as of May 11. One actress describes discovering her account had been closed without notice. Chase Bank has remained quiet about their actions (other than to tell the customers that their accounts were considered "high risk"), leaving many to wonder why this has happened, seemingly out-of-the-blue. There are indications that the DOJ may be involved.
posted by Thorzdad on Apr 30, 2014 - 149 comments

Man creates own credit card, sues bank for not respecting its terms

Banks usually reserve the right to change the rules or rates for credit cards they issue at any time, and the only notice given is buried in a long legal document. Russian Dmitry Argarkov turned this on its head: After he received a junk-mail credit card offer, he modified the document to include terms ridiculously in his favor and sent it back. The bank signed and certified it without looking at it, and sent him a credit card. [more inside]
posted by Sleeper on Aug 10, 2013 - 62 comments

Burgess Meredith sold separately

Building conversions can be a tricky business, but it's especially so when there is a fifty ton steel vault built into the structure. So what can you do with that old bank? Well, restaurants are popular. So are nightclubs and bars. Really big banks seem to be a natural for a hotel conversion (here's one in progress). And if all that sounds too fancy, well, how about a Walgreens? [more inside]
posted by AlonzoMosleyFBI on Jun 22, 2013 - 52 comments

The alchemists of Wall Street are at it again.

Wall Street begins playing again with the same matches that burned the economy in 2008 From the New York Times: "The banks that created risky amalgams of mortgages and loans during the boom — the kind that went so wrong during the bust — are busily reviving the same types of investments that many thought were gone for good. Once more, arcane-sounding financial products like collateralized debt obligations are being minted on Wall Street. " (View article on a single page) [more inside]
posted by Sleeper on Apr 20, 2013 - 57 comments

Virginia man robs bank, claims Feds recruited him for secret operation

“If I tell you, you’re not going to believe me,” Torres said. He was crying as he told them an incredible story about being recruited by the Defense Intelligence Agency to participate in a secret operation testing the security of Washington-area banks. He said he’d been assigned to rob a half-dozen banks over four days. And he told them about Theo, the man who hired him and gave all the orders—even though Torres had never met him.
posted by pravit on Apr 19, 2013 - 32 comments

There's a lot of bullshit coming from America

"Of the top 100 Swiss companies, 49 give shareholders a consulting vote on the pay of executives. A few other countries, including the United States and Germany, have introduced advisory "say on pay" votes in response to the anger over inequality and corporate excess that drove the Occupy Wall Street movement. Britain is also planning to implement rules in late 2013 that will give shareholders a binding vote on pay and "exit payments" at least every three years. Minder's initiative goes further, forcing all listed companies to have binding votes on compensation for company managers and directors, and ban golden handshakes and parachutes. It would also ban bonus payments to managers if their companies are taken over, and impose severe penalties — including possible jail sentences and fines — for breaches of these new rules."
posted by vidur on Jan 21, 2013 - 32 comments

Level 2 is more worrisome. Level 3 is hair-raising.

"We decided to go on an adventure through the financial statements of one bank [Wells Fargo], to explore exactly what they do and do not show, and to gauge whether it is possible to make informed judgments about the risks the bank may be carrying. We chose a bank that is thought to be a conservative financial institution, and an exemplar of what a large modern bank should be."
posted by vidur on Jan 14, 2013 - 14 comments

Japan

What's Going On In Japan? "Really Japan is quite a remarkable case, since neither fiscal nor monetary policy seems to be working to achieve the anticipated results. This year Japan will have a fiscal deficit of around 10% of GDP and gross government debt will hit 235% of GDP, yet the country is still struggling to find growth. Instead of reiterating old dogmas (whether they come from Keynes or from Hayek) more people should be asking themselves what is happening here. This is not a simple repetition of something which was first time tragedy and is now second time tragedy, it is something new, and could well be a harbinger for more that is to come, elsewhere. Oh, why oh why are economists not more curious?" [more inside]
posted by kliuless on Dec 27, 2012 - 82 comments

"how we learned to stop worrying and embrace the abstraction"

A Brief History Of Money [more inside]
posted by the man of twists and turns on Dec 16, 2012 - 53 comments

Prison of Debt Paralyzes West

Be it the United States or the European Union, most Western countries are so highly indebted today that the markets have a greater say in their policies than the people. Why are democratic countries so pathetic when it comes to managing their money sustainably? This clear, well-written essay in Der Speigel lays out the current debt crisis - along with current, proposed solutions - in an understandable manner. Not included among the so-far-proposed solutions is one other that has opened up a veritable financial market and debt Pandora's Box - i.e. a central bank debt jubilee.
posted by Vibrissae on Nov 19, 2012 - 118 comments

James Coyne, 1910-2012

James Coyne, the former Governor of the Bank of Canada, died October 12 at the age of 102. Coyne will be best-remembered for the Coyne Affair in 1961, a watershed moment in Canadian monetary policy that has been the subject of scholarly articles and at least one Master's thesis. Coyne and the Prime Minister, John Diefenbaker, disagreed on monetary policy. After Diefenbaker failed to get a bill vacating the office of Bank Governor through the Senate, Coyne resigned, setting the modern precedent that the government, not the Bank, sets the fundamental direction of monetary policy in Canada but that the Bank implements policy independently. His son, columnist Andrew Coyne, pays tribute (obliquely) to James Coyne's legacy of integrity in public office. (Andrew once complimented his father's parsimoniousness in purchasing cars.)
posted by Dasein on Oct 17, 2012 - 9 comments

Bank of Canada bans image of Asian-looking woman from new $100 bills over ethnicity criticism

The Bank of Canada has changed the design of its new $100 bill after receiving numerous comments from focus groups that the woman pictured looked like she was of Asian descent. [more inside]
posted by asnider on Aug 18, 2012 - 150 comments

Swiss Miss: Can poor people open a Swiss bank account?

Foreign Policy magazine asks, "Can poor people open a Swiss bank account?" (Bad news: You need more than a passport, some pocket change, and a healthy disdain for the IRS.)
posted by wensink on Jul 15, 2012 - 40 comments

A Big Boy Did It And Ran Away

Last year the CEO of Barclays Bank, Bob Diamond, told MPs that “There was a period of remorse and apology for banks. I think that period needs to be over.” Yesterday, Barclays was fined £290M by UK and US regulators for manipulating the key LIBOR lending rate. [more inside]
posted by Jakey on Jun 28, 2012 - 129 comments

Bank for America

And when the day comes that you, the American taxpayer, own this Bank, you will be ready to make it a Bank for America—one that brings benefits not to the privileged only, but to all of our customers, and to all of our stakeholders too.
posted by Surfin' Bird on Apr 20, 2012 - 15 comments

Spring Awakening

Mother Jones: The 10 'Occupy' candidates vying for seats in the US House Of Representatives and Senate and their prospects.
posted by The Whelk on Mar 14, 2012 - 27 comments

The Minds Behind the Meltdown

How a swashbuckling breed of mathematicians and computer scientists nearly destroyed Wall Street.
posted by veedubya on Feb 23, 2012 - 48 comments

Dancin' ladies don't come cheap, you know.

What's the true cost of Christmas? [more inside]
posted by empath on Dec 25, 2011 - 38 comments

The Israeli Bank Robber Who Can Record Your Dreams

"The moral of the story is: if someone asks you to rob a bank, say 'yes.'" (Via) [more inside]
posted by zarq on Dec 3, 2011 - 11 comments

Yesterday's Tomorrow Today!

The BBC broadcasted the science and technology showcase show Tomorrow's World (titles on piano) on 7 July 1965 on BBC1, it ran for 38 years until it was cancelled at the beginning of 2003. Unlike the boosterism of US science programs, Tomorrow's World was more famous for it's live stunts and wry outlook ( James Burke experiences the "convenient" office of the future and the future of home gardening and crushing ennui). The BBC has an archive of episodes and clips for UK visitors, everyone else will have to be content with clips concerning Home Computers, New Banking, Nellie The School Computer, The Elliot Light Pen, Mobile Phones, and Moog Synthesizers.
posted by The Whelk on Nov 26, 2011 - 17 comments

Why do we need a financial sector?

Economics blog VoxEU debates Why do we need a financial sector? Serious, important and very dull articles discuss the trade-offs and myths of innovation, and whether the sector is overrated, critical or a contributor to the wider economy.
posted by TheophileEscargot on Nov 22, 2011 - 35 comments

Borders. Security. Refugees. Jerusalem.

The Atlantic is in the middle of a four-part special report on the Israel / Palestinian peace process, called "Is Peace Possible?" which features multimedia presentations on and analyses of what they believe are the four core issues of the conflict: Borders, Security, Refugees, and Jerusalem. (The latter two will be released on Monday, November 7 and 14th, respectively) The report was put together in collaboration with the S. Daniel Abraham Center for Middle East Peace. [more inside]
posted by zarq on Nov 1, 2011 - 21 comments

Chext

Chext is a site that enables the user to enter transactions and track their bank balance via SMS. People sharing a bank account can also get updates when money is spent from the account by the other person. [more inside]
posted by reenum on Sep 19, 2011 - 30 comments

And Justice For All?

An image showing disparity in sentencing appears in a tweet by Electronic Frontier Foundation co-founder John Perry Barlow and raises questions of its validity. Paul R. Allen is clearly a real case and Roy Brown an actual criminal but what do the differences in their sentencing say about the state of justice in America? [more inside]
posted by geekyguy on Jun 25, 2011 - 28 comments

Now You See It, Now You Don't

Homeowners are using a little known loophole in the bankruptcy laws to shed their second mortgages.
posted by reenum on May 9, 2011 - 42 comments

Interchange reform is necessary and it is long overdue.

Open Letter TO JPMorgan Chase CEO Jamie Dimon. The Democrat from Springfield responds to the Chase CEO's letter to shareholders.
posted by boo_radley on Apr 13, 2011 - 39 comments

The Search for the Securitas Millions

In February 2006, a group of criminals pulled off the biggest cash heist in the history of the UK, making off with £53 million pounds. To date, only £23 million of the money has been recovered. Police are understandably upset about the dead ends in the case.
posted by reenum on Feb 16, 2011 - 12 comments

What's the problem?

Interview with Gary Gorton (pdf) - Fascinating look at private institutional bank money creation (really) and subsequent run on the shadow banking system that hearkens back to the late-19th century banking crises with securitization playing the role of checking before the advent of deposit insurance. "Gorton is a lucid narrator of a complex tale." (via via)
posted by kliuless on Jan 14, 2011 - 10 comments

Master criminal, or puppet on a dead man's string?

Back in 2003, MetaFilter noted a very strange bank robbery in which the robber was also a particularly desperate victim. Seven years later, the story has become even more gnarled and mysterious, despite the ultimate conviction of a 'mastermind'. The Incredible True Story of the Collar Bomb Heist. [more inside]
posted by dragstroke on Jan 11, 2011 - 45 comments

The 25-Year 'Foreclosure From Hell'

Patsy Campbell has been fighting her foreclosure in Florida courts for the past 25 years. She has not made a mortgage payment since 1985 while foiling the efforts of several banks to evict her from her home in Okeechobee, Florida.
posted by reenum on Dec 30, 2010 - 150 comments

Checks Without Banks: The Irish Banking Strike

The Irish Banking Crisis: A Parable - What happened when the Irish stood up to the bankers in the 1970s? cf. Why Wall Street won't get shrunk & The Inequality That Matters [more inside]
posted by kliuless on Dec 17, 2010 - 38 comments

got mny in yr pkt? kthxbai

M-Pesa, the mobile platform based money transfer system launched by Safaricom in Kenya, is changing the landscape of money in Africa, and around the world. Competition is heating up even while the service expands internationally allowing transactions to occur between Africa, UK and Asia. Bankers, regulators, startups and operators all want a piece of the pie as even the phone manufacturers themselves get into this potentially lucrative business.
posted by infini on Jun 12, 2010 - 12 comments

Hello, Dr. Evil here...

Good morning, ladies and gentlemen. In a few hours, I will destroy the Greek economy. Unless, that is, you give me the sum of...one trillion dollars! (SLNYT, but with this much money I can afford to look frumpy)
posted by anigbrowl on May 10, 2010 - 61 comments

Purchase risky debt on a massive scale and then place a bet that the debt will fail!

Betting Against the American Dream. In 2005, just as Wall Street started to get cold feet about the housing market, the Magnetar hedge fund helped create a new wave of billion-dollar mortgage-backed securities, pushed bankers to include riskier sub-prime mortgages, and then shorted the securities, making millions when the bubble finally burst. Traders on both sides of the deals pocketed enormous fees even if their banks went under when the securities failed. Pulitzer Prize-winning ProPublica, This American Life, and NPR's Planet Money track down some of the big winners in the housing/financial crisis. No time to read or listen? It seemed so much like a scheme from The Producers, they even recorded a show tune to explain it all. (Previously, 2, 3)
posted by straight on Apr 15, 2010 - 30 comments

The Chyron's Kuleshov

Culture, Relativism, and Bank Ads
posted by jtron on Mar 16, 2010 - 33 comments

Tanks for the memories...

His bank was threatening forclosure on his $350,000 home, so one Iowa man takes the next logical step: he bulldozes it to a pile of rubble. [embedded local news video]
posted by zardoz on Feb 20, 2010 - 99 comments

Is it safe?

Is it safe? While it looks that the banking system is in better shape than before, some companies still seem to want to hedge their bet. A German insurance company is suing the German central bank to force them open a checking account for them. "As an insurer, it’s our very own task to manage risks and regulators demand that from us,” Mallinckrodt said. “The Bundesbank is the only lender in Germany with no risk to become insolvent, so only an account there is risk free." [more inside]
posted by yoyo_nyc on Jan 21, 2010 - 11 comments

PayPal should not exist

Might the consumer banking revolution be coming? "Yodlee is the engine behind the online banking operations of most banks in America — and, for that matter, of mint.com... and it's now going to open up that database to software developers around the world." With mobile internet adoption soaring, the birth of iBanking may not be that far behind. An upgrade of payment and financial information systems could be closer than you think. [more inside]
posted by kliuless on Dec 11, 2009 - 33 comments

Banks are too big to fail (at social media)

A software engineer blogs about the inept and insecure way in which a bank asks customers to file a claim when they're the victim of fraudulent transactions. Dozens of customers chime in with similar experiences, over the course of months. The bank in question contributes nothing to the conversation, and the system remains both insecure and broken today [that last link is probably blocked by your browser or operating system, but don't worry - the form on the page doesn't work anyway].
posted by subpixel on Nov 25, 2009 - 28 comments

Bank Notes - a collection of bank robbery notes

Bank Notes - a collection of bank robbery notes, successful and otherwise.
posted by nthdegx on Nov 2, 2009 - 64 comments

From Switzerland With No Love

Swiss private bank Wegelin says goodbye and good riddance to America. Swiss private bank Wegelin announced two weeks ago that it is to stop doing business in the United States. The St Gallen-based bank, Switzerland's oldest, said the decision had been taken in response to stricter measures introduced in the US against tax dodgers and planned changes to estate tax, which would make some non-US citizens liable to tax if they inherited US securities. In a letter to investors it said Swiss banks were likely to find themselves in an untenable position, as they would be expected to know which clients were liable to pay US tax – "an impossible undertaking", given the lack of clear definitions in the matter.
posted by DreamerFi on Sep 2, 2009 - 88 comments

where it's 1973 forever

That's it. I am moving my all my money to Oakwood! The tiny town north of Houston has just three employees and not a single computer. It has no voice mail and no ATMs. This is the smallest bank in the USA. Still going strong.
posted by shockingbluamp on Jul 27, 2009 - 40 comments

Would you like to buy a bank?

Failed bank takeovers by the FDIC continue to increase at an alarming rate in 2009 (7 this past thursday, 52 so far in 2009) Here's an interview with a bank CEO who bought a failed bank for some insider info into how the process of buying failed banks works (this is the bank he bought). Via calculated risk. Previously
posted by jourman2 on Jul 4, 2009 - 8 comments

BankTracker

Curious about the health of your bank? You might find BankTracker helpful. This site crunches the FDIC's publicly available numbers on banks' deposits, loans, and nonperforming loans, and makes them available in a search interface for banks and credit unions. [more inside]
posted by A dead Quaker on Jun 13, 2009 - 15 comments

Accidental movement of large sums of money to the wrong people.

Couple flee after bank mistakenly gives them 10m $
posted by johannahdeschanel on May 21, 2009 - 112 comments

ATM card skimmer removed and examined

In the Netherlands somebody has removed an ATM card skimmer and examined it in detail. This site is in Dutch only, but appears to show high resolution photos of an ATM card skimmer with integrated PIN-capturing video camera.
posted by thewalrus on Apr 8, 2009 - 55 comments

"Most every Friday, now, the FDIC seizes several banks"

60 minutes goes along with the FDIC to take over a bank. Via calculated risk. [more inside]
posted by jourman2 on Mar 9, 2009 - 24 comments

For those of us who didn't take Econ in school.

Confused about the banking crisis? Confused by banks in general? This American Life's latest show Bad Bank (streaming, mp3) is a highly informative (and entertaining) overview of how banks work, and what problems they--and we all--face in this current crisis. Produced by another great NPR show, Planet Money.
posted by zardoz on Mar 2, 2009 - 23 comments

Treasury paid $100 for every $66 in assets in top-ten TARP deals

The Congressional Oversight Panel, headed by Harvard Law professor Elizabeth Warren, notes in its third monthly report that for every $100 Treasury spent on its ten largest TARP deals, it received back only $66 worth of assets -- significantly less than for roughly comparable private parties.
posted by shivohum on Feb 19, 2009 - 23 comments

Page: 1 2
Posts