Frank Capra meets Collateralized Debt Obligations:

The idea is simple: If enough people who have money in one of the big four banks move it into smaller, more local, more traditional community banks, then collectively we, the people, will have taken a big step toward re-rigging the financial system so it becomes again the productive, stable engine for growth it's meant to be. It's neither Left nor Right -- it's populism at its best.

Footnoted.org, a blog devoted to pointing out those buried atrocities in SEC filings, is having its annual worst footnote of the year contest. contenders include Chesapeake Energy disclosing it spent $12.1 million to purchase Aubrey McClendon's antique map collection, Martha Stewart's $3 million retention payment to remain at Martha Stewart Omnimedia and InfoGroup disclosing it really spent $852K on former CEO Gupta's yacht instead of zero. Polls close tomorrow.
posted by krautland on Dec 30, 2009 - 24 comments

Is it still spam if they actually give you the money? (SLYT)
posted by mikepop on Dec 23, 2009 - 37 comments

Adnan Khashoggi was one of the high society news makers in the 80's, considered by some to be on Donald Trump's level. While things have gone alright for the Donald, Khashoggi hasn't done as well... [more inside]
posted by reenum on Dec 14, 2009 - 19 comments

In testimony before the Senate Banking Committee... where he’s seeking re-appointment as the Fed’s chairman, Bernanke called for cutbacks in Medicare and Social Security... “Willie Sutton robbed banks because that’s where the money is, as he put it,” Bernanke said. “The money in this case is in entitlements.” [more inside]
posted by Joe Beese on Dec 4, 2009 - 91 comments

This Christmas: 6 ways you're not saving money (when you think you are) and 39 ways you could be (that you're not doing).
posted by Taft on Dec 3, 2009 - 81 comments

“We send something whenever we have a little extra, at least enough so he can eat." Remittances, the small money transfers a previous FPP called "the most important antipoverty program in the world", are now flowing the opposite direction. Yes, poor families in southern Mexico are having scramble to find money to send north to their out of work relatives in the US.
posted by Forktine on Nov 18, 2009 - 14 comments

Cuban players have long been a mainstay in baseball. After Fidel Castro made it impossible for people to leave the island, the flow of players stopped to a drip. That changed with the defection of Rene Arocha in 1991. [more inside]
posted by reenum on Nov 8, 2009 - 4 comments

When people think of the pitfalls of the baseball draft, it is hard not to remember the story of Matt Harrington. Harrington was drafted in the first round of the MLB draft by the Rockies and the Padres in successive years, only to go back into the draft after failing to reach an agreement each time. As the years went by, his stock kept falling. [more inside]
posted by reenum on Nov 3, 2009 - 50 comments

Lenny Dykstra was lauded for his heroics with the Mets and Philles. After his career, Dykstra became well-known as a post-career athlete success story. Then the truth started coming out... [more inside]
posted by reenum on Oct 27, 2009 - 22 comments

Use the ($2) Two / Track the ($2) Two (and the $1, $5, $10, $20, $50, and $100) [more inside]
posted by MrBCID on Oct 18, 2009 - 42 comments

"If the Swiss can do it on a regular basis, why can't we North Americans too." The Dollar ReDe$ign Project believes its time for the United States to switch from the old to something new in the field of American currency. As a result, a contest was developed and submissions accepted. They range from the cultural to the cynical, and a salute to American space achievements to update designs to the present content.
posted by Atreides on Oct 14, 2009 - 126 comments

Neil Barofsky, special inspector general for the Troubled Asset Relief Program, says: If the goal was to increase lending, well we haven't increased lending. ... Banks that were too big to fail are bigger than ever. ... When TARP was announced, the whole purpose was a statement that we're not going to let our large financial instiutions fail. And with that I think we may be in a far more dangerous place today than we were a year ago. (via)
posted by Joe Beese on Sep 26, 2009 - 15 comments

Debt: The first five thousand years. Anarchist anthropologist David Graeber (previously) writes about "debt and debt money in human history" in Eurozine. Lots of thought-provoking stuff here; I'll put a sample in the extended description. (Via wood s lot.) [more inside]
posted by languagehat on Aug 23, 2009 - 44 comments

How Could This Happen to Annie Leibovitz? "This" being broke-ass-broke. More or less.
posted by chunking express on Aug 19, 2009 - 112 comments

The Goat Who Took on the Fed: WSJ's Andy Jordan spends time in the Berkshires to see how locals make the case for "slow money" with their own local currency, "The Berkshare". (previously 1 2 3 4) [more inside]
posted by kliuless on Aug 3, 2009 - 14 comments

Nine years ago, in the autumn of 2000, Daniel Suelo decided to stop using money. He just quit it, like a bad drug habit. [more inside]
posted by william_boot on Jul 26, 2009 - 201 comments

Meeting Ticker -- if this helps shorten even one meeting by one minute, it'll have been worth it.
posted by nthdegx on Jul 17, 2009 - 20 comments

Madness is doing the exact same thing over and over again and expecting different results. (SLBP)
posted by vivelame on Jul 9, 2009 - 29 comments

"The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." [more inside]
posted by philip-random on Jul 6, 2009 - 76 comments

When Money Buys Happiness. List the ten most expensive things (products, services or experiences) that you have ever paid for (including houses, cars, university degrees, marriage ceremonies, divorce settlements and taxes). Then, list the ten items that you have ever bought that gave you the most happiness. Count how many items appear on both lists. [more inside]
posted by zinfandel on Jul 2, 2009 - 82 comments

Mark Wagner makes money into art.
posted by grapefruitmoon on Jun 15, 2009 - 17 comments

Standard & Poor’s changed the UK's credit outlook from stable to negative a few days ago, and warned that there is a chance the UK could lose its AAA rating. Meanwhile, Moodys, another of the big 3 rating agencies, has warned that the US might also eventually lose its AAA rating. The UK announcement caused sterling to drop by 1% and the FTSE by 2%. However, many blame the same rating agencies for their part in triggering the subprime crisis. The irony of this is not lost on the Wall Street Journal, who note that "After all, those governments are jacking up spending, in part, to bail out the financial firms who gobbled up those 'AAA' asset backed securities duly blessed by the credit ratings firms." [more inside]
posted by memebake on May 26, 2009 - 38 comments

The High Cost of Poverty : The Washington Post explores why the cost of living is proportionately higher in poor areas. Double Jeopardy: Why the Poor Pay More (pdf): a report on payday loans, the cost of homeownership, medical debt, and banking in poor communities.
posted by desjardins on May 19, 2009 - 230 comments

Maybe you shouldn't buy that.
posted by Brandon Blatcher on May 16, 2009 - 63 comments

The Dark Knight - On Sir Allen Stanford
posted by Gyan on Apr 29, 2009 - 9 comments

The new monetary standard: Copper.
posted by bigmusic on Apr 19, 2009 - 51 comments

How (and Why) Athletes Go Broke [more inside]
posted by ThePinkSuperhero on Apr 13, 2009 - 130 comments

What It Costs provides information on the costs associated with a wide variety of services and concepts. Whether you want to know the price range of practical activities — such as what it costs to replace a kitchen countertop, building a nuclear aircraft carrier — or are interested in unusual articles — such as the cost to build Fenway Park, being cryogenically frozen or cleaning up a murder scene — you will find all this and much more.
posted by netbros on Apr 9, 2009 - 24 comments

Indeed, all three of Hitler’s prized leather whips were presents from high society ladies. : Christopher Clark reviews High Society in the Third Reich by Fabrice d’Almeida in the London Review Of Books.
posted by The Whelk on Apr 7, 2009 - 24 comments

The recession has hit the theatre world (and the arts scene in general) very hard - but some argue that theatre practitioners aren't doing themselves any favours when seeking funding. The main question insufficiently addressed is "who is the funding for?" - hint: it's not about you. Approaching theatre as a product isn't working, not when MFA acting programs don't often allow its graduates to earn enough to earn back their debt. So now the question is: how can the economics of theatre be changed?
posted by divabat on Mar 29, 2009 - 60 comments

Where did all the money go? is just one of the enties to GOOD's financial crisis infographic competition. [more inside]
posted by pharm on Mar 20, 2009 - 30 comments

"I understand you want to make finance entertaining, but it's not a f*ckin game." (parts 1 2 3) After trading blows over the last couple weeks, CNBC's Mad Money host Jim Cramer appeared opposite Jon Stewart as a guest on The Daily Show. While Cramer worked to keep his poise during the awkward exchange, the evisceration may call to mind Jon's appearance on Crossfire.
posted by Christ, what an asshole on Mar 13, 2009 - 273 comments

What Does $1 Trillion Look Like?
posted by ZenMasterThis on Mar 12, 2009 - 75 comments

Why are these companies free? In which we learn about "negative enterprise value" and an interesting prospect of using a market collapse to get free money. "Seemingly, a buyer who can afford all of the shares can end up being paid to own these companies."
posted by Cool Papa Bell on Mar 12, 2009 - 28 comments

Simon Johnson on Bill Moyers [1] (and, prolifically, making the public media rounds on npr [2]) tackling the bailout of the American Oligarchs, a.k.a. banksters... [more inside]
posted by kliuless on Feb 14, 2009 - 16 comments

Hard up for cash? Roll your own :P [more inside]
posted by kliuless on Feb 8, 2009 - 36 comments

Dating A Banker Anonymous Are you or someone you love dating a banker? If so, we are here to support you through these difficult times. Dating A Banker Anonymous (DABA) is a safe place where women can come together – free from the scrutiny of feminists– and share their tearful tales of how the mortgage meltdown has affected their relationships. Via
posted by ColdChef on Jan 28, 2009 - 167 comments

House Financial Services Committee Chairman Barney Frank gave a bank, whose capital ratio equaled only 1.88% of assets at the bank, versus a desired level of about 6%, TARP money after heavy lobbying. Frank inserted into the bill a provision to give special consideration to banks that had less than $1 billion of assets, had been well-capitalized as of June 30, served low- and moderate-income areas, and had taken a capital hit in the federal seizure of Fannie Mae and Freddie Mac. (WSJ link) [more inside]
posted by SeizeTheDay on Jan 22, 2009 - 92 comments

At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of Wall Street analysts and explained how his bank intended to use its $300 million in federal bailout money.

“Make more loans?” Mr. Hope said. “We’re not going to change our business model or our credit policies to accommodate the needs of the public sector as they see it to have us make more loans.”

Personal stories from the front lines of the American bailout.
posted by plexi on Jan 18, 2009 - 63 comments

If the Government is running a larger than usual Ponzi scheme, then developing your own abilities to launder money cannot be far behind. So, how would I go about laundering money?
posted by wallstreet1929 on Jan 17, 2009 - 29 comments

"5 Time management tricks I learned from years of hating Tim Ferriss", author of The 4-Hour Work Week.
posted by ThePinkSuperhero on Jan 8, 2009 - 89 comments

Wonder how your bank is doing these days? Here's how to interpret the data.
posted by St. Alia of the Bunnies on Dec 31, 2008 - 21 comments

TARP, SSFIP, EESA, CPP, TALF, MMIFF... Are you feeling overwhelmed by all the new acronyms coming out of the US Treasury Department lately? Here's a handy PDF reference guide to untangling the US government efforts to rescue banks, financial corporations, and other companies.
posted by Asparagirl on Dec 29, 2008 - 10 comments

Sadly, colleges are on track to become unaffordable for most Americans.
posted by plexi on Dec 3, 2008 - 114 comments

Anatomy of a Meltdown - Ben Bernanke and the financial crisis (in one page)
posted by Gyan on Nov 24, 2008 - 61 comments

We had a tale of time travel getting a man out of a speeding ticket. (Previously) Now we have a man trying to pay a bill with a spider drawing --not a speeding ticket this time. (He mentions time travel as well.) [more inside]
posted by cjorgensen on Nov 20, 2008 - 24 comments

Another economic post. With the debt and equity markets in a comparative calm, a lot of people are asking what next? One area little examined is the idea of sovereign risk. Basically, those with the armies make to rules, and you don't want to be invested there when they change the rules,. The USA has been the power behind globalisation for over half a century, enforcing the rules of the marketplace we have grown to accept. Some are questioning whether it can maintain this position. [more inside]
posted by bystander on Nov 3, 2008 - 15 comments

Confused about what caused this whole credit crisis? Let me Paddy Hirsch from Marketplace explain it to you in this surprisingly entertaining and easy to understand video. While you're there, check out his explanation of short selling and credit default swaps. I wish this guy was my finance professor.
posted by JPowers on Oct 23, 2008 - 23 comments

Pocketful of dough - an article on where the art of, er, tipping up front can get you. Originally printed in a year 2000 edition of Gourmet. Via Juicy Tidbits.
posted by nthdegx on Oct 10, 2008 - 59 comments