Citibank is an extremely low grade institution that both takes advantage of its customers and engaged in mortgage fraud during the housing bubble. Amazingly authors think nothing of holding them up as a paragon of efficiency with their Six Sigma quality programs. Citibank, the ultra corrupt bank that had to be bailed out by taxpayers [...]
Archive for the ‘Banking’ Category
CitiBank Uses Six Sigma To Drop Lending Standards
Posted in Banking on February 1, 2010 | 2 Comments »
Michael Hudson on How Banks Really Make Money
Posted in Alternate Economic Philosophies, Banking, Lauded Sources, tagged Michael Hudson, Milton Friedman on December 23, 2009 | 1 Comment »
In the modern Sarah Palin / Milton Friedman US culture, Michael Hudson is a Communist because he opposes the consolidation of power and the mistreatment of the non elite. These ideas can get you kicked out of the nicer cocktail parties in this country. Michael Hudson In an era when most economists are content to [...]
Grayson Asking Difficult Questions Regarding Bailout Corruption
Posted in Banking, tagged Alan Grayson on August 26, 2009 | 12 Comments »
There is one Congressman on the Financial Services Committee who has actually stood up to concentrated financial power, Alan Grayson. Who is Alan Grayson? Alan Grayson is a new Congressman who is a former practicing attorney who has clerked for the Supreme Court in his younger days. He sits on the Financial Service Committee. What [...]
Chase New to California But Not to Corruption
Posted in Banking, tagged Chase, DollarsandSense.org on July 31, 2009 | Leave a Comment »
This is an excerpt from the book. Real World Banking and Finance, by Dollars and Sense. It describes how Chase has been involved in banking fraud for some time. None of this affected Chase’s ability to buy other banks after the crisis. Now this terrible bank “serves” California. http://www.dollarsandsense.org/bookstore/infobanking.html Chase his brief roster offers just [...]
Michael Hudson on Real Estate Taxation
Posted in Banking, Debt Peonage, Economic Bubbles, Economic History, Real Estate, tagged Michael Hudson, Milton Friedman on May 4, 2009 | 1 Comment »
Michael Hudson has been covering real estate for some time and is one of the very few experts on real estate taxation. The picture above is a good representation of how banks see the optimal real estate situation, people who are so in debt that they have to allocate most of their income to their [...]
Unconstitutional Fed Makes International Banking Cartel Happy
Posted in Banking, Currency, Economic History, Economics, Misleading Financial Institutions, Videos, tagged Alan Grayson, CEPR.net, Goldman Sacks, Henry Paulson, Hoover Institute, Ron Paul, SEC on April 13, 2009 | 1 Comment »
What would you do if you learned that your government had outsourced its central banking function to a private company? Furthermore that this company had only a loose affiliation to the government, and that the government have very little oversight into this entity both in terms of controlling its behavior and being able to see [...]
What Happens During a Financial Crisis
Posted in Banking, Economic Bubbles, Economics, Real Estate, Stock Market, tagged Henry Paulson, Obama, SEC on February 11, 2009 | Leave a Comment »
We thought this was a good primer as to what we can expect in the coming years. It provides a historical perspective as to what happens during a financial crisis. Actually, it is likely that we can expect worse than this due to the size of the bubble on the upside combined with the utter [...]
Walking Away from Mortgages
Posted in Banking, Deliberately False Financial Information, Economic Regulation, Investment Advice, Mortgages, Real Estate, Videos, tagged CEPR.net, Henry Paulson on January 15, 2009 | 2 Comments »
(picture from http://boicemail.blogspot.com/2007/05/may-7-2007-newsletter.html) While banks are begging for and getting money to cover their losses, what has been must less discussed is whether homeowners will be offered debt relief. Henry Paulson, the Secretary of the Treasury has stated that the number one thing the government can do for the average American is “stabilize the banking [...]
Wharton Partially to Blame for Financial Crisis
Posted in Banking, Deliberately False Financial Information, Real Estate, tagged Michael Hudson, Wharton on January 12, 2009 | Leave a Comment »
Universities like the University of Pennsylvania’ Wharton School with its very prestigious financial school bears some responsibility for this crisis. One reason being that they produce so many graduates with illusory or marginal skills, but that feel entitled to so much compensation. Richard Herringhere, very calmly explains how things got “a little out of control.” [...]
Why Didn’t Anyone Want to Hold Mortgages?
Posted in Banking, Mortgages, Pensions, Real Estate, tagged Michael Hudson on January 12, 2009 | 2 Comments »
Something very instructive is how mortgages evolved over time. In the past banks and savings and loans owned and serviced mortgages in the US. After the savings and loan crisis of the 1980′s this dramatically reduced the number of savings and loans, which was really too bad because there is good evidence that savings and [...]
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