Banks Articles


Liz Warren Praises Bernie Sanders

12:17 PM, Jan 06, 2016
Massachusetts senator Elizabeth Warren had some praise this morning for Democratic presidential candidate Bernie Sanders. Read more

Safer Banks, Fewer Loans

9:10 PM, Jul 25, 2015

All bad things must come to end has been the hope of the banking industry for these past eight years. Now it seems that time has come. In the past week or so just about everything has been coming up roses for America’s banks. JPMorgan Chase delivered second quarter earnings that “beat the Street”, as Wall Street jargon would have it.

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Safer Banks, Fewer Loans

7:20 PM, Jul 25, 2015
All bad things must come to end has been the hope of the banking industry for these past eight years. Now it seems that time has come. In the past week or so just about everything has been coming up roses for America’s banks. JPMorgan Chase delivered second quarter earnings that “beat the Street”, as Wall Street jargon would have it. Read more

Hillary Attacks High-Frequency Traders but Has Fundraiser Planned With One

10:42 AM, Jul 13, 2015

Today, in an economic speech at the New School in Manhattan, Hillary Clinton spoke out against short-term traders.

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Banks Hearing Bernie’s Footsteps

10:45 AM, May 12, 2015

The conventional wisdom is that he doesn’t have a snowball’s chance--and maybe that's true. But Bernie Sanders’s presidential campaign does have some people looking over their shoulders.

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Banks Under Stress

11:01 PM, Mar 13, 2015

So all’s well. No more financial meltdowns. No more taxpayer bailouts of bonus-hunting, risk-taking bankers. The Federal Reserve Board’s regulators have decided that all 31 of the largest U.S. banks, including seven that are foreign-owned, would survive a severe recession with sufficient capital to continue lending and remain in business without a taxpayer bailout.

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Cantor Lands a Job

12:08 PM, Sep 02, 2014

The former constituents who returned Eric Cantor to the private sector have reason to think, He is who we thought he was. As Mario Trujillo of The Hill reports:

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Bankers and Their Wounds

11:00 PM, Aug 08, 2014

Bank of America likes to top rival J.P. Morgan Chase in as many ways as possible. Except one. The $16-to-$17 billion check it is about to write to cover the fine for sins committed before the financial crisis tops the previous record of $13 billion paid by J.P. Morgan Chase just nine months ago. Add fines paid by Bank of America in connection with other activities, and the total take from the bank’s shareholders easily tops $22 billion. That’s certainly is real money, but not so much as to prevent Bank of America from raising its dividend last week.

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Claim: Press Traveling With Kerry in China Have Bank Accounts Hacked

6:01 AM, Jul 11, 2014

Agence France-Presse State Department correspondent Jo Biddle is claiming on Twitter that members of the media traveling with Secretary of State John Kerry to China "have had their bank accounts hacked."

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Bernie Madoff Is Jamie Dimon's Latest Headache

9:30 AM, Jan 11, 2014

Here we go again. JPMorgan Chase will pay $2.6 billion in fines and compensation for its inattention to numerous red flags warning that its important customer, one Bernie Madoff, was running a $65 billion Ponzi scheme.

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Bankers Win, Workers Lose

12:00 AM, Dec 14, 2013

Free traders are ecstatic. Negotiators at the 9th World Trade Organization ministerial conference in Bali cheered, hugged, and wept at what they see as the successful culmination of their recent round of talks. “A giant step for businesses large and small,” enthused the CEO of UPS.

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Big Banks Have Big Problems

11:00 PM, Oct 11, 2013

Janet Yellen, dubbed “Ms. QE Infinity” by some wags because of her support for printing money to create jobs, and her willingness to pierce the Fed’s long-held 2 percent annual inflation ceiling, will have more to worry about than monetary policy when she steps into Ben Bernanke’s ample shoes on February 1. There is the small matter of regulating the nation’s banks, a chore made difficult for her by two unrelated facts.

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Tell Us How You Really Feel

8:46 AM, Jul 15, 2013

The Brookings Institution might have been a little harsh on Senator Elizabeth Warren's plan to reduce student loan interest rates:

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Too Big to Tell

8:26 AM, Apr 11, 2013

President Obama will be meeting today with people one of his predecessors might call "malefactors of great wealth."  According to Dawn Kopecki & Margaret Talev of Bloomberg, visitors to the White House will include:

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'The Biggest Kiss,' cont.

4:34 PM, Feb 06, 2013

At the Washington Examiner, Tim Carney points to JPMorgan CEO Jamie Dimon's admission in an interview that the Dodd-Frank financial regulation law makes it "tougher for smaller players to enter the market." Dimon says the law widens the "moat" that surrounds big banks like JPMorgan and keep smaller banks from competing.

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We’ve Been ZIRPed

The perils of the zero interest rate policy.
Dec 24, 2012

Ex-Citi CEO Calls for Breaking Up the Banks

5:18 PM, Jul 26, 2012

Sandy Weill is calling for the banks to be broken up. Bloomberg reports

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Romney Should Call Them Out

8:29 AM, Jul 19, 2012

James Pethokoukis, writing at AEI Ideas:

 

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Dem. Chair Invested in Swiss Banks, Foreign Drug Companies, and the State Bank of India

10:55 AM, Jul 10, 2012

Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, previously held funds with investments in Swiss banks, foreign drug companies, and the state bank of India. This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for holding money in Swiss bank accounts in the past.

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Too Big for Comfort, cont.

9:56 AM, Jun 13, 2012

Frank Keating, the president and CEO of the American Bankers Association and former two-term governor of Oklahoma, writes this letter to the editor in response to James Pethokoukis's recent WEEKLY STANDARD article "Too Big for Comfort."

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The GOP and the Big Banks

8:36 AM, May 19, 2012

This story got me thinking about the GOP's complicated relationship with the big banks:

Crossroads GPS, a conservative-aligned outside group backed by Karl Rove, is on the air in Nebraska with an ad attacking former Sen. Bob Kerrey (D-Neb.) for supporting the bank bailout.

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Fear Athens Less and Washington More

11:00 PM, May 18, 2012

The tide sweeping from Greece across Europe and into the United States is washing away support for austerity, in some cases reinforcing opposition to it, largely from the left. President Obama is delighted at this support for his refusal to cut spending in the face of mounting deficits, and the Republicans are feeling beleaguered at what they see as the disinterment of the body of works of John Maynard Keynes.

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Obama Has Over $500,000 with JP Morgan Chase

2:55 PM, May 15, 2012

According to just released disclosure forms, President Barack Obama has between $500,000-1,000,000 in assets in a JP Morgan Chase account. The full title of the account, as it's written on the disclosures, is "JPMorgan Chase Private Client Asset Mgmt Checking Account." It is a jointly held account, presumably with First Lady Michelle Obama.

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Obama Administration Stops Foreigners from Clogging Teller Windows

2:32 PM, Apr 24, 2012

Most administrations are a bit reluctant to pass regulations that anger prominent members of their own party, but President Obama apparently has no qualms doing so. Last week the administration announced the final version of a regulation that will require depository institutions to report interest paid to nonresident aliens despite protestations from the entire Florida delegation (including DNC chair Debbie Wasserman Schultz) and a wide array of Democrats and Republicans across the country. The harmful consequences to our economy promise to be significant.

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The Daily Grind: Trouble in Paradise

7:30 AM, Feb 13, 2012

Tom Maguire: "Their gist seems to be that the 'less government' crowd is a bunch of hypocrites, but there is a glaring problem with their numbers."

The Hill: "Santorum suggests Romney rigged CPAC straw poll victory"

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Obama Burdens the Banks

The costliest regulation you’ve never heard of.
Jan 23, 2012

There are a number of pricey regulations that have received attention of late: net neutrality, new ozone standards, countless regulations stemming from the passage of the Dodd-Frank bill. These rules typically garner a mention in the Wall Street Journal, a formal Office of Information and Regulatory Affairs (OIRA) review, and, in some cases, a lengthy Regulatory Impact Analysis.

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New Chief of Staff: Former Hedge Fund Exec. at Citigroup, Made Money Off Mortgage Defaults

5:56 PM, Jan 09, 2012

President Obama's first chief of staff Rahm Emanuel once sat on the board of troubled federal mortgage giant Freddie Mac. Bill Daley, the president's chief of staff whose departure was announced today, was previously a top executive at financial firm J.P. Morgan Chase & Co. So of course there should be little surprise that Obama's latest chief of staff, announced today by the president himself, also has deep ties to the financial industry himself.

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