"What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human shit into billions of dollars of profit for Wall Street" - "Looting Main Street
" Matt Taibbi takes an in-depth look into how finance, deregulation, corruption, synthetic rate swaps, and greed decimated Birmingham, AL. [more inside]
posted by The Whelk
on Apr 12, 2010 -
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.
Move your money.
posted by Anything
on Dec 31, 2009 -
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 -
I am a Swiss Banker currently in possession of over $ 1 Billion in funds stashed away by the late dictator Mobutu Sese Seko of the Congo. Our Swiss Confederation President Micheline Calmy-Rey said her government is holding just $6.6m frozen in accounts.
"We discussed the question of Mobutu's funds and my government is prepared to restore the money to the DR Congo as soon as possible," Ms Rey told reporters
in the DR Congo capital, Kinshasa, after talks with Mr Kabila.
But we can help you get the rest of the 92.4 million dollars if you will just send us your bank account number and call to confirm your ID and pin number.
posted by infini
on Jul 17, 2007 -