Better Markets: Wall Street’s too-big-to-fail banks

Why do almost all companies finance themselves mostly with equity, but Wall Street’s too-big-to-fail banks finance themselves almost 100 percent with borrowed money (debt), making them very unstable and at high risk of failure even if they only have tiny losses?  Because those handful of gigantic banks (only 9 banks in the …

The Stone that Brings Down Goliath? Richmond and Eminent Domain

In a nearly $13 billion settlement with the US Justice Department in November 2013,JPMorganChase admitted that it, along with every other large US bank, had engaged in mortgage fraud as a routine business practice, sowing the seeds of the mortgage meltdown. JPMorgan and other megabanks have now been caught in over …

The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks

The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks Posted on August 5, 2013 by Ellen Brown The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, …

Book Review: Bailout, By Neil Barofsky

Like millions of Americans worried over their shrinking retirement funds, I relied on www.sigtarp.gov to find the truth about where our tax dollars were going and to whom. Author Neil Barofsky headed SIGTARP as Special Inspector General over TARP which Congress authorized and funded to keep track and oversee the original TARP …

New State Bank Bills Address Credit and Housing Crises

New State Bank Bills Address Credit and Housing Crises Ellen Brown http://WebofDebt.com/articles February 26, 2012 Seventeen states have now introduced bills for state-owned banks, and others are in the works. Hawaii’s innovative state bank bill addresses the foreclosure mess. County-owned banks are being proposed that would tackle the housing crisis …

The Way to Occupy a Bank is to Own One

The Way to Occupy a Bank is to Own One Ellen Brown http://WebofDebt.com/articles December 15, 2011 The campaign to “move your money” has gotten a groundswell of support. Having greater impact would be to “move our money” — move our local government revenues out of Wall Street banks into our …

Why Banks Aren’t Lending: The Silent Liquidity Squeeze

Why Banks Aren’t Lending: The Silent Liquidity Squeeze Ellen Brown July 15, 2011 http://WebofDebt.com/articles Why aren’t banks lending to local businesses? The Fed’s decision to pay interest on $1.6 trillion in “excess” reserves is a chief suspect. Where did all the jobs go? Small and medium-sized businesses are the major …

How the Bailout Killed Local Lending — And How Some States Hope to Bring It Back

How the Bailout Killed Local Lending — And How Some States Hope to Bring It Back Ellen Brown June 27, 2011 http://WebofDebt.com/articles “Wall Street banks have cut back on small business lending… [by] more than double the cutback in overall lending.… [Small business] options just keep disappearing.” -Elizabeth Warren, Chair …