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7 posts tagged with banks and crisis. (View popular tags)
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"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 -
"I call it the destruction of shared prosperity hypothesis. ... [A]round 1980 the U.S. adopted a fundamentally flawed economic paradigm ... that abandoned full employment and severed the link between wages and productivity growth. ... Financial deregulation, regulatory forbearance, financial innovation, financial mania, and plain vanilla financial fraud kept the economy going by making ever more credit available, However, as the economy cannibalized itself by undercutting income distribution and accumulating debt, it needed ever larger speculative bubbles to grow. The house price bubble was simply the last and biggest bubble and was effectively the only way around the stagnation that would otherwise have developed in 2001." - an interview
with Thomas Palley
on the origins and prognosis for the crisis
posted by crayz
on Apr 18, 2012 -
Wajahat Ali, a solo practitioner from California, takes on Wells Fargo in an attempt to get his clients' home loan modified. Lots of ball dropping and passing of the buck ensues. He describes
the Kafka-esque nature of the experience.
posted by reenum
on Jun 20, 2010 -