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POPSWall Street=+10 *** Main Street= -20 Good article to help raise that blood pressure. Just in case you were concerned about the welfare of those poor, maligned execs and CEOs of our beleaguered and abused financial institutions, this will help to reassure those nagging worries.
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POPSBanks Get Into the Unemployment Biz Ye gods, do their little tick-tock minds ever quit? And why are we privatizing social programs? And why are our state legislators permitting the banks to abuse the unemployed through inquiry and withdrawal fees? More below: "For now, those without jobs who are trying to stretch every dollar from unemployment insurance are finding the banks eager to nibble away at even those modest sums."
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POPSObama's Big Sellout The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway
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POPS Deutsche Bank's Countdown to The Carbon Bubble Deutsche Bank's ... JUNK SCIENCE AWARD ...THE RUBBER DUCKIE To banks and financial players now lobbying Washington, Ottawa and governments everywhere, the rolling carbon counter is a rolling dollar counter. At 1,000 tonnes a second, if each tonne could be hit with a $50 carbon tax or carbon trading fee, that’s $50,000 a second, which works out to $2-billion a month. The potential, obviously, is in the trillions of dollars " bigger, even, than the global sub-prime crash. Citigroup, Bank of America, Merrill Lynch and Goldman Sachs are all part of campaigns to push the Obama administration to adopt carbon trading. Read more: http://bit.ly/61hjeK
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POPS TARP's Moment of Truth and Senate Democrats Only this week AFL-CIO President Richard Trumka dreamed up a new use for TARP money, demanding it be recycled into favored community banks or small businesses. This is how an emergency bailout program morphs into a White House's "walking around" money. Senator Thune has tried several variations on the end-TARP theme, and with each attempt has picked up Democratic support. When he offers this new proposal "perhaps as part of must-pass legislation to raise the debt ceiling to an eye-popping $13 trillion "taxpayers will be watching "deficit-hawk" Senators, from Alaska's Mark Begich to Arkansas's Blanche Lincoln to Nebraska's Ben Nelson. For Democrats who claim to care about runaway spending, no vote could be easier. TARP has served its purpose, and then some. End it.
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POPSReport: 237 millionaires in Congress
Senators’ estimated median reportable worth sunk to about $1.79 million from $2.27 million in 2007. The House’s median income was significantly lower and also sank, bottoming out at $622,254 from $724,258 in 2007. But CRP’s analysis suggests that some lawmakers did well for themselves between 2007 and 2008, even as many Americans lost jobs and saw their savings and their home values plummet. Senate Minority Leader Mitch McConnell (R-Ky.) gained about $9.2 million. Sen. James Inhofe (R-Okla.) gained about $3 million, Sen. Daniel Inouye (D-Hawaii) had an estimated $2.6 million gain, and Richard Shelby (R-Ala.) gained about $2.8 million. Some lawmakers have profited from investments in companies that have received federal bailouts; dozens of lawmakers are invested in Wells Fargo, Citigroup, Goldman Sachs and Bank of America. Vice President Joe Biden has often tagged himself as an original blue collar man. The CRP backs him up, putting his net worth at just $27,000.
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POPSGoing Galt "There is no way this will work as advertised.......Chaos will be created at these firms as top people leave in droves. Will the administration then order people back to work? "
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POPSYou're Not Going To Believe This One. Just when you think the Banks can’t possibly do more to hurt us... They come out with a lalapalooza... They are now going to charge their credit card customers for... hold on to your proverbial hats... INACTIVITY! I heard this on CNN this morning and I couldn't believe it. Bank of America, yup the ones who received $25 billion from the government's $700 billion financial rescue fund, including $10 billion that would have gone to Merrill had it not been acquired by good old Bank of America. Now, instead of just gouging those who are in debt and over a barrel they are targeting people who have enough income and only use credit cards, as a convenience. The question is, are these financially better off consumers going to take it? Or Are they going to (like the rest of us) GET MAD AS HELL AND NOT GONNA TAKE IT NO MO? I hope they will be strong enough, in numbers, to put these greedy banks in their place… If not there is NO JUSTICE! HAPPY NEW YEAR! :mad:
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POPSGoldman Can Spare You a Dime In particular, the tone-deaf Treasury secretary, Timothy Geithner, never ceases to amaze. His daily calendars reveal that most of his contacts with the financial sector in the first seven months of 2009 were limited to the trinity of Goldman Sachs, Citigroup and JPMorgan. And last week Bloomberg News reported that his inner circle of “counselors” " key advisers who, conveniently enough, do not require Senate confirmation " are largely drawn from the same club. It’s hard to see how any public official can challenge a culture that he is marinating in, night and day.
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POPSTrying to muster sympathy for the billionaires' shrinking assets More: Lawrence Katz, a labor economist at Harvard, sensibly points out that one could generate incentives to excel for less: “I don’t think the added incentive of earning $100 million over $50 million is very different than the incentive of making $10 million over $5 million,” he told me once.
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POPS Pay Czar Targets Salary Cuts Mr. Feinberg is expected to issue by mid-October his determination on compensation packages for 175 of the most-highly compensated executives and employees at the seven firms he oversees. The move will further reshape pay at those firms and could complicate efforts by some of those seven companies to attract top executives and employees. The issue could be particularly acute for Bank of America, which is searching for a successor to Kenneth Lewis, who announced plans to resign as chief executive of the company last week. A Bank of America spokesman said the bank declined to comment on compensation issues regarding the chief executive. "We have been in close communication with Feinberg and our compensation going forward is very much in line with his guidance," the spokesman said. Pay Czar to Cut Staff's Cash Salaries Video WSJ video (1:47) http://online.wsj.com/article/SB125478783753066235.html#articleTabs%3Dvideo
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POPSCitifinancial Citifinancial is a wholly owned subsidiary of Citigroup. Citigroup in its turn is the leading financial services provider in the world.
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POPSCitifinancial Read reviews about Citifinancial, an American financial services company that focused on providing their clients money for them to realize their ideas.
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POPSACORN's Corporate Donors Backing Off Banks and other financial institutions have given millions of dollars and other forms of support to ACORN for decades in response to boycott threats from the organization, as well as accusations of racism and other forms of discrimination in granting personal loans and mortgages. The ACORN campaigns followed passage of the 1977 Community Reinvestment Act (CRA), which was designed to pressure financial institutions to loosen lending standards in order to increase home ownership among poor and minority communities. Legislation strengthening CRA during the Clinton administration greatly encouraged such ACORN activities. Dissident current and former officials of ACORN claim that donations made to AHC and other affiliates are often misappropriated. “There’s no guarantee that any donations are going where they are supposed to be going,” said Ron Sykes, treasurer of the Washington D.C. ACORN and a member of the ACORN 8.
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