There’s some work to do to get rid of the legacy TBTFs. But there’s some hope: the Fed seems to be putting its foot down on TBTFs going forward:
Finance Addict commented on the blog post The Actual Problem With Income and Debt Has Nothing to Do With Wall Street
Wall Street moans about lost bonuses. Main Street is horrified that they’re still receiving any, at all. There’s a win-win solution for both sides:
The mortgage settlement is like a rape victim being forced to post bail for her attacker: http://financeaddict.com/2012/02/more-easy-living-for-misbehaving-banks/
Finance Addict commented on the blog post Live Blog for #Occupy Movement: Massive Day of Action to Shut Down Wall Street
AIG Chairman to OWS and millions devastated by the crisis: You mad, bra? http://bit.ly/u6J2Oe
Finance Addict commented on the blog post Administration Favors Settling With Banks on Criminal Actions They’re STILL Engaged In
U.S. banks were told by the Feds to hire independent consultants to help fix the foreclosure mess. Who likes those odds?
Finance Addict commented on the blog post Greek PM Papandreou Calls Referendum on Greek Debt Deal
With this move Greece takes a lead from one of the chants used by Occupy Wall Street:
Show me what democracy looks like!
This is what democracy looks like!
What other popular petitions are out there that the President may or may not be working on?? Take a look.
Finance Addict commented on the blog post Occupy Together Live Blog: Day 39, Police Launch Early Morning Siege on @OccupyOakland
Finance Addict commented on the blog post GAO Report Shows Multiple Conflict of Interest Cases at Fed Regional Banks
this diagram from the GAO report is my FAVORITE!
Finance Addict commented on the blog post The New America: Home Demolition Rises as “Solution” to Housing Crisis
In our view this has *everything* to do with leverage. And I don’t mean of the financial kind. Ireland and America have always had great kinship and, lately, we’ve been doing lots of things together!
-Massive housing boom? Check
-Fiery crash back down to earth? Check
-Gigantic, controversial bank bail-outs? Check and check.
But here’s the difference: Ireland nationalized some of the banks they bailed out. As they own them now, the banks will have no choice but to go along with the “mortgage-to-rent” scheme proposed to try and stop the housing market’s bleeding. Leverage.
Finance Addict commented on the blog post Europe Tries to Conjure Up a Solution to Their Banking Crisis
This will not end well, especially when you cannot trust the data coming from the banks, themselves: http://bit.ly/r6VbcB
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