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Credit Suisse is the first bank to use commercial debt to pay employee bonuses this year. Another take on bonuses this year
posted by jourman2 on Dec 18, 2008 - 26 comments

Politicians and citizens alike are struggling with the decision to bail out the under-performing American automakers. But what will happen to the cities and towns of the Midwest if the automakers fail? Flint, Michigan provides an interesting template. In the 1960s and 70s, Flint had a population of 200,000 and was home to some 80,000 autoworkers. Today, after many plant closures, relocations, and worker buyouts, only 8,000 autoworkers remain. So, what are we to do with cities like Flint? There have been lots of ideas, like demolishing dilapidated houses, renovating brownfield sites like Chevy-in-the-Hole [pdf], downtown business renovation, and increasing community participation by giving ownership of vacant lots to local homeowners. [more inside]
posted by billysumday on Dec 5, 2008 - 54 comments

Icelandic internet bank Icesave has closed its doors. The Icelandic government has told the UK chancellor that it cannot pay back the money of UK depositors. [more inside]
posted by Happy Dave on Oct 8, 2008 - 84 comments

Lehman Brothers files for liquidation. After an all weekend emergency meeting at the New York Fed, no rescue, and LEH is gone. AIG announcing restructuring tomorrow. Bank of America in merger talks with Merrill Lynch, offering to buy the firm outright at $29/share, which values the 94 year old firm at a paltry $40 billion. The futures market say that stocks are not happy.
posted by eriko on Sep 14, 2008 - 428 comments

The FDIC has taken control of IndyMac Bank This is being described as the second largest bank failure in US history. If you are a current customer with funds on deposit, here's what you need to do.
posted by Asherah on Jul 11, 2008 - 160 comments

Bringing Down Bear Stearns, from Vanity Fair's August issue.
posted by SeizeTheDay on Jul 1, 2008 - 17 comments

Remember the old days of the web, where insane collectors cataloged their manias for the world to see? Where terrible design, including "portals" belied neat things kept by amateurs?

I stumbled onto these bank logos via Ffffound and thought they were neat examples of two-color design. But the primary focus of the site is buttons like these.

Also collected: Maritime flyers, Ads for button suppliers, sample cards… All sorts of stuff.
posted by klangklangston on Mar 10, 2008 - 16 comments

Keep calm and lie down on the floor The John Dillinger Died for You Society has been commemorating the death of Public Enemy #1 every July 22 (last July Pope Michael Flores spoke) Their major spiritual teaching comes from the eminently quotable St. John Dillinger the Martyr who said: “Lie down on the floor and keep calm” during his bank robberies. (Considering his other quotes, it’s ironic that he was canonized) You can join just for the hell of it. Maybe check out a scrapbook of his greatest (ahem) hits. If you’re in Indiana some time you can check out his grave . And of course there’s Dillinger’s women (and everyone’s got a myspace page) But was he a hero for burning mortgages or a villian for robbing banks? Really, does it matter?
posted by Smedleyman on Nov 6, 2007 - 14 comments

The South Bank Show is the longest running arts show on television. Melvyn Bragg has presented an eclectic mix of televisual joy since 1978. SBS has presented in-depth portraits of many different types of artists during this time, covering a huge range of topics. From high art to low art, classical music to pop music, canonical literature to airport blockbusters it has offered some of the most insightful and enjoyable arts programming around. Much youtubery awaits inside [more inside]
posted by ClanvidHorse on Sep 27, 2007 - 16 comments

Zeitgeist, the movie [Google Video link embedded] - An interesthing, if bizarre, mix of buffed-up comparative mythology, 9/11 conspiracy theories and New world order rambling about banks, loans, debts and war. Is paranoia the spirit of our times?
posted by Baldons on Jul 26, 2007 - 32 comments

Erie bomb victim was the dupe in a greedy plan. This story has always freaked me out...and now it freaks me out in brand new ways.
posted by punkfloyd on Jul 11, 2007 - 100 comments

The Hamas-Fatah civil war seems to be winding down in Gaza. Meanwhile, Palestinian and Israeli bloggers discuss the idea that the West Bank will go into confederation with Jordan; leaving Gaza to the Egyptians.
posted by humanfont on Jun 14, 2007 - 30 comments

How often can a customer walk into a bank and take a whole till full of cash, till and all? Well, that's what Declan Purcell did (okay, actually bailiffs acting on his behalf) after the Royal Bank of Scotland failed to comply with a court order to refund him 3400 pounds in bank fees.
posted by louigi on Jan 25, 2007 - 64 comments

Bobby Fischer vs. the Union Bank of Switzerland: Chess master doesn't like his Swiss bank unilaterally closing his account. Letters go back and forth, lawyers get involved. Fischer posts all letters sent and received on his website. [Link goes to coral cache, original site is hosted at Geocities Japan. via namics weblog]
posted by slater on Nov 12, 2006 - 43 comments

Death for embezzling? The former chief of the state run Bank of China, Liu Jinbao, was given a suspended death sentence for embezzling 7.72M yuan (approximately 1M USD). His assets have been seized, and it is expected that his sentence will be commuted to life in prison. As China actively seeks to lure foreign investments, including banks, this is meant to send a strong signal about corruption in the financial sector.
posted by SirOmega on Aug 13, 2005 - 18 comments

Bush nominates Wolfowitz for World Bank post. "Willingness to accept a long-term American occupation force" is now set to become a condition for future bailouts.
posted by clevershark on Mar 16, 2005 - 84 comments

Who will be the next president of World Bank?
posted by hoder on Jan 20, 2005 - 4 comments

This was not a lucky crime, this was a well-organised crime A gang stole at least £20m ($40 m) in cash from a Belfast bank yesterday. Many suspect the involvement of one of the paramilitary organizations which collectively made off with over £43m during 22,000 armed robberies during the Troubles using the tiger kidnap. Only one problem: most of the cash was in Northern Irish notes. Which sometimes are not even accepted in the rest of the UK.
posted by fshgrl on Dec 22, 2004 - 22 comments

Worse Than the World Bank? Export Credit Agencies--The Secret Engine of Globalization The amount of investment that export credit agencies (ECA) support worldwide is significantly greater than the total amount of lending from the World Bank, IMF and all other multilateral institutions combined. ECA's account for the single biggest component of developing country debt and half of all new greenhouse gas-emitting industrial projects in developing countries have some sort of ECA support. Investments in places like Guatemala, South Africa, Pakistan, Chile [PDF], have had unacceptable social, environmental and economic consequences. Administered or backed by a government, an ECA uses taxpayer money to make it cheaper and less risky for domestic corporations to export or invest overseas. ECAs privatize the profit and socialize the risk while negatively impacting indigenous cultures and enironments, all with little or no governmental oversight or public awareness of the matter. So what can we do about it? [PDF]
posted by faux ami on Nov 26, 2004 - 14 comments

A little tale of 2 men, and one bank, with special guest stars Osama bin Ladin, Saddam Hussein, Abu Nidal, and Jackie O. more here, including passages deleted from the final report.
posted by amberglow on Aug 22, 2004 - 14 comments

Bank robbery in progress: You can probably watch it live on TV right now. Six schools close to the bank have been shut down, and the FBI is negotiating for the hostages to be released.
posted by ktheory on Sep 4, 2001 - 4 comments